TrustPad introduces Safeguarded Launch Protocol — Making the Launchpad Space Safer

Dear TrustPad Community,

As most of you might know already, one of the main key features and aspects with TrustPad has always been to make the DeFi and launchpad space safer.

“Making DeFi Safer” was actually our slogan for a very long time, until we changed it to “The #1 Multi-Chain Launchpad”.

Fun fact: The first-ever refund (post-IDO) by any launchpad was made by TrustPad.

Those who have been with us from the start, know we always have had an ardent security focus and safe element to TrustPad, and in fact we have been the first-movers when it comes to protecting our community by doing proper due diligence and also refunding or cancelling IDOs on a regular basis in case of malicious activity or critical errors.

Since day one, the TrustPad team carries out extensive research and due diligence both from the project and external sources. We take every precautionary step to ensure the project is solid — all to protect the community and investors.

For quite some time now we have had strict rules in place to protect our investors, such as not sending funds until 48–72 hours after DEX listing, to make sure everything is OK before sending funds. This made it possible for us to refund IDOs and other sales.

Even though this approach had a lot of controversy initially, we always believed it was the right approach, and now others follow suit as the launchpad space would get hurt without proper self-regulation.

The description about TrustPad below is taken straight from our One-Pager released 1 year ago when we launched TrustPad:

“TrustPad is a decentralized multi-chain IDO platform enabling projects to safely raise capital whilst giving investors confidence in the legitimacy of projects, all of which are launched on best-in-class proprietary technology.

TrustPad has been founded to aid the growth of the blockchain ecosystem in a safe and sustainable way.

Amongst the many launchpads, TrustPad is different. A ‘quality not quantity’ approach has been sought by the team to ensure that projects launched through TrustPad have long term, real value. This will provide the TrustPad community with sustainable growth which attracts a larger community, creating organic growth of both $TPAD and the projects launched on the platform.”

However, due to the recent changes in the DeFi and launchpad space, and the rise of greedy actors, there have been an increasing number of projects and teams that have not followed proper guidelines, simply being irresponsible and not respecting our community’s funds.

To filter out the more irrespective and greedier actors, and also to make sure projects put in full effort into making their projects successful, we have now decided to announce a strict 10 rules protocol called “SafeGuarded Launch Protocol” that projects have to adhere to with no exceptions — in order to receive all the raised funds, or even launch on TrustPad in the first place.

All of our upcoming launches will be under these rules. We will also enforce these rules to the already sold projects as far as possible. For instance, we started to send the collected funds from the sales in batches, according to the vesting schedule recently, so the rule has already been in action for a while.

Our aim is to protect both our investors and our sale partners. For the sale partners we will provide detailed guidance to avoid possible pitfalls in the listings. We will offer a launch protocol that provides detailed settings and parameters to maximize multiples the token price can make and we will offer guidance to sustain a high token price in the future as well.

Here we go!

10 rules for SafeGuarded Launches on TrustPad

Projects launching on TrustPad need to comply with the following requirements starting from today:

1. TrustPad will require a minimum amount of liquidity to be added on a DEX according to the total raise. It will be decided case by case according to the total raise and other circumstances, but it will never be less than $250k for a specific trading pair. The liquidity needs to be locked for at least 9 months and longer if the whole vesting period passes that. Please note: Planned DEX / AMM upgrades, such as the one from PancakeSwap V1 to V2, will also be taken in consideration, when deciding lockup time.

2. TrustPad will require mandatory lock-ups for “Team Tokens” such as team, development, marketing, advisory etc tokens. These tokens need to get locked according to their vesting schedule, no exception. Proof of lock is a must before launch. Any sign of more tokens in circulation than the specified DEX listing amount will prompt an immediate refund or at least a poll for that.

3. TrustPad will require preset distribution times to be complied with. If a sale partner allows a certain party to get their tokens before TrustPad investors, we will find a way to compensate our investors. If the sale partner acts maliciously or makes an error in regards to the distribution that causes losses to our investors, we will withhold an appropriate amount of the unvested funds in order to compensate the loss to our investors.

4. TrustPad will only send funds in batches according to the vesting schedule in order to be able to refund the community in the cases of project abandonment, hacks, exploits, system breakdown or malicious activity. For instance, if the contracts gets hacked or any other unforeseeable thing happens (force majeure), and the token price suffers due to that and the project is no more profitable to our investors, we will refund or at least set up a poll to refund the rest of the distributions.

5. TrustPad will make sure the initial project’s roadmap is followed and doesn’t put our investors’ money in jeopardy, we reserve the right to refund the rest of the unvested amounts. For instance, if the project decides that they are going to transfer their marketing funds to enrich the team members, that will naturally cause a finable, compensable event and also may cause a refund for the rest of the distribution amounts. All the money withheld as fines will be transferred to the sale participants, investors in that particular sale.

6. TrustPad will require all the tokens sold in a sale (IDO, Private or Seed) through TrustPad to be sent to TrustPad before the launch to make sure our community will get their tokens in time, without any delays, no exceptions.

7. No more than 30 days between a sale and its listing. Our aim is to have all the sales 24 to 72 hours before the listing to keep momentum intact. If a listing is postponed until further notice, we will automatically refund the sale if the delay is for 21 days or more. We will then have another sale date for the project close, 24 to 72 hours to the new listing date. TrustPad never wants to withhold investors’ funds more than what is needed. This rule is to ensure maximum ROI for the investors’ funds.

8. TrustPad will require full token audits from reputable audit companies to ensure that there are no malicious functions in the contract such as rug pull allowing tax systems, proxy contracts, honeypots, centralized blacklisting (other than possible launch related bot prevention), minting or other types of malicious functions.

9. TrustPad will provide a comprehensive launch protocol for the sale partners to follow. That protocol contains specific guidance regarding various issues to ensure that the listing goes technically smoothly, avoids various pitfalls, bot abuse and most importantly has a specific guidance to maximise multiples the price can do at the listing.

10. TrustPad will require projects to stay above their IDO price until at least 41% of the distribution is complete. If the term does not fill, we will set a poll to decide for a refund for the rest of the distributions. TrustPad will provide guidance to the sale partners to sustain a high token price. In the guide we will provide specific actions to do and others to avoid.

These rules go into effect Today, April 29th, 2022.

Besides the requirements above, TrustPad has the right to issue a partial or full refund or poll for a refund at any time if we find out that malicious, bad practices or critical errors have occurred.

However, we will also pay extra attention to all the critical details our sale partners might have with their launches, we have their backs as well. Our goal is to maximize the potential, ROI and utility all our launched projects can make and in the same time promise safety to investors, simply to have our investors’ back at all times.

You will always be protected and have peace of mind investing in promising projects through TrustPad.

Kind regards,

TrustPad Team

About TrustPad

TrustPad has been founded to aid the growth of the blockchain ecosystem in a safe and sustainable way. TrustPad is proudly partnered with Lupa X Capital, GD10 Ventures, Blocksync Ventures, X21 Digital, Meridian Capital, Wealth Union, Twin Apex Capital and 4SV.

TrustPad is different from other launchpads. A ‘quality over quantity’ approach ensures that projects launched through TrustPad have real long term value. This will provide the TrustPad community with sustainable development, attracting a larger community for both $TPAD and the projects launched on the platform.

Join the TrustPad Community

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Multi-Chain DeFi Protocol allowing projects to raise funds in a safe way. Official Website: https://trustpad.io

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TrustPad

TrustPad

Multi-Chain DeFi Protocol allowing projects to raise funds in a safe way. Official Website: https://trustpad.io