Daisy: Cross-Chain Launchpad and Community
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For any project to see its way through completion and wider implementation, the first step after conceptualizing is finding capital.
In the world of traditional finance (TradFi), the most common way to get funding is to pitch a project to investors. Usually, the founder has a clear understanding of his idea, strategy, and ways to implement it. With all this, he would pitch his project to investors, present a detailed business plan, fully substantiate his idea, and hope that it’s something investors are looking to get behind.
Another way to go about it is through crowdfunding. It’s a very interesting solution because the fundraising for the project is in the hands of a community. Kickstarter is likely to be the most popular crowdfunding platform where people post their projects and look for capital. It comes with its own pros and cons, but it’s a way for ideas to get funded.
What About Crypto?
Naturally, the above options are entirely possible in the field of cryptocurrencies, but being a hub for innovation, the models are taken to a different level and applied in another fashion.
It’s important to mention community-based tokens when it comes to it, and Dogecoin certainly comes to mind. While it was created by someone, its growth is solely due to its status as a popular meme-coin with a tremendous community behind it. However, this doesn’t necessarily mean it’s community-based.
Community-based tokens usually rely on holding and staking rewards. This brings us to one of the other ways of funding new projects with community efforts – initial DEX offerings (IDOs).
The Rise of IDOs
Initial DEX offerings, or IDOs, for short, became particularly popular in 2021. Community members can invest in the project and become holders of its native tokens ahead of market launch.
It’s worth noting that there is a lot of scams in the industry, especially in the field of initial DEX offerings, but it’s a strong showcase of the power of this model and how it can be leveraged to finance legitimate and disruptive projects.
Yet, it’s also true that the growing hype of community-based projects needs to be placed in a trusted space so that retail investors can go about it stress-free.
Here Comes Daisy
Daisy is a decentralized equity crowdfunding community of contributors who provide both the financial and social capital needed to fuel the growth and the development of innovative projects in the field of cryptocurrencies.
It’s an interoperable cross-chain platform with a goal to unite as many blockchain platforms as possible under its wing. It aims to systematically support the growth of products with an even distribution.
Daisy also brings forward a delegated proof of stake (DPoS) consensus algorithm that works in the community’s favor. As a rule, it presents participants to the validators and community members and rewards depending on their contribution to the given cause.
The main idea is to provide every contributor with the opportunity for profit, equity, and income within a safe and community-driven environment.
At the same time, it’s easy to create a project on the Daisy Launchpad, which makes it hassle-free for those who seek funding to opt-in and take advantage.
There are two key considerations that participating projects need to consider and go through so that they can have access to potential funding. These are:
- Approval from the Daisy research team
- Selection process that’s wholly based on community voting
In conclusion, it appears that community-based funding seems like where the industry is headed to in regards to raising starting capital, and this has its benefits. Of course, there are also drawbacks, as it is with all things.
And yet, decentralized crowdfunding falls perfectly in line with the narrative of Decentralized Finance (DeFi), making it the most logical choice and option to consider.
