SuiPad: The first multifunctional launch platform of the Sui ecosystem

SuiPad is the first comprehensive Launchpad project on the Sui public chain that integrates IDO, ISO, and INO functionalities. The project plans to conduct private and public fundraising rounds on a well-known platform on May 7 and 8. This article will delve into the distinctive features and innovative mechanisms of SuiPad.

Project Overview

SuiPad is positioned as a community-centered new project incubation platform within the Sui ecosystem. As a frontline project of the Sui ecosystem, SuiPad aims to become a one-stop solution for project launches on the Sui network through its official collaboration with Mysten Labs. Its core product is the SuiPad launchpad, which is an IDO platform focused on selecting and launching high-quality new projects on the Sui blockchain.

Featured Functions

Sui Tank

Sui Tank is a Web3 version of a startup reality show. In the show, Web3 startup project teams pitch their projects to a panel of experienced investors. This provides the community with an educational platform to learn how to professionally evaluate projects, while also giving entrepreneurial teams the opportunity to showcase their products and raise funds.

SuiPad Shield insurance

To address the issue of traditional IDO platforms lacking user principal protection, SuiPad has launched an innovative insurance feature. Users can choose to pay an additional 15% premium to purchase insurance, and this premium will go into the SuiPad Shield insurance pool. If the average highest price of the project tokens within 7 days after the IDO is lower than the IDO price, the insurance pool will compensate the users for their losses, thereby protecting the users' principal.

Suipad Academy

This is a 16-week full-time Web3 development bootcamp aimed at cultivating professional Web3 development talent. The curriculum covers front-end and back-end technologies, basic computer science, and Web3 development centered around Sui Move. Participants must purchase and hold $6000 worth of SUIP tokens to participate.

Token Staking and Layered Mechanism

SuiPad adopts a layered staking system, where users are classified into 6 levels from Ruby to Sui based on the amount of staked SUIP tokens. The more tokens staked, the higher the level, which may result in a larger allocation in the IDO. Additionally, SuiPad introduces a locking multiplier mechanism, allowing users to achieve higher levels by locking their staked tokens without needing to increase the staking amount.

Token Allocation

The distribution plan of the SUIP token includes multiple parts such as team, advisors, ecosystem incentives, etc., with specific ratios not disclosed.

Development Roadmap

• 2023Q1: Testing online launch, multi-wallet integration, testnet IDO
• Q2 2023: Mainnet launch, SUIP token IDO, staking pool and Shield insurance launched
• 2023Q3: Sui Tank program production and broadcasting, new batch of IDO projects, incubation plan launch
• 2023Q4: SuiPad Academy first course, second batch of incubation plan, ongoing IDO

Team Background

Core team members come from top centralized exchanges and well-known blockchain development companies, possessing rich experience in project selection, listing, marketing, and technical development.

Financing Situation

SuiPad has completed over $1.15 million in private financing, with investors including well-known institutions such as NGCVentures and GBV Capital. The public financing is scheduled for May 7th and 8th, including the OG round at ( 0.035 USD/token ) and the WL round at ( 0.05 USD/token ). Tokens will begin distribution on May 11th.

SuiPad, as a comprehensive Launchpad of the Sui ecosystem, is expected to become an important platform for promoting the development of the Sui ecosystem through innovative function design and diversified services.