In this article, we would like to introduce NearPAD - a Launchpad & DeFi hub of the NEAR ecosystem. We'll be covering the following topics:
- What is NearPAD? What are NearPAD’s features?
- NearPAD Tokenomic: key metrics, token allocation, and token use-cases.
- How/Where to earn and store NearPAD tokens?
- Roadmap & Updates.
- Founders/ Team members, Investors, and Strategic partners.
What is NearPAD?
NearPAD is a Launchpad & DeFi hub of the NEAR ecosystem, working with the purpose of providing access to crowdfunding through the sale of project tokens for projects.
A high overview of NearPAD is available on Nearians - the Twitter account created by Coin98 Insights, providing Insights, knowledge and opportunities on Near!
How does NearPAD work?
To participate in IDO events, participants have to stake PAD tokens. The token will be locked for 21 days for the first time users stake their tokens into any pool before users can unstake them. After that, every time users join an IDO event, the lockup is extended by a week.
There are five-tier staking pools with the base minimum of 1000 PAD tokens and the maximum of 150,000 PAD:
- The entry-tier is pegged to 1,000 $PAD with a multiplier of 1.
- The second tier starts t 5,000 $PAD with a multiplier of 1.375.
- The third tier starts at 25,000 $PAD with a 1.75 multiplier.
- The fourth tier has a 75,000$PAD requirement and a 2.125 multiplier.
- The final tier is capped at 150,000 $PAD and possess a 2.5 multiplier.
What is PAD token?
PAD is an ERC-20 token. Its specific use-cases can be found below.
Detailed information about PAD token
PAD Key metrics
- Token name: NearPAD
- Ticker: PAD
- Token Standard: ERC-20
- Contract: 0xea7cc765ebc94c4805e3bff28d7e4ae48d06468a (ERC-20)
- Token use cases: Utility, Governance
- Circulating Supply: --
- Max Supply: --
- Total Supply: 150,000,000
PAD Token Allocation and Release Schedule
PAD Token Sale
Seed sale: Sale conducted at a rate of 1 PAD = 0.167 USDT and raised a total of $2M.
Public Sale: Sale conducted on September 1st, 2021 at a rate of 1 PAD = 0.25 USDT and raised a total of 3,000,000 PAD (2% of the total supply)
PAD Token use cases
PAD token’s functionality includes:
- Pay the launchpad a 0.5% fee collected in stablecoins. This will be converted to $PAD and burned;
- Yield Aggregator (soon): The protocol will charge a certain fee (to be decided by governance) for the yields. This fee will be used to buyback PAD and burn;
- DEX Aggregator (soon): A fee will be charged based on swaps made. This fee will be used to buyback $PAD tokens and burn them;
Governance: PAD holders may govern NearPAD by voting on proposals
How to store PAD Tokens
You can store, send, receive PAD Tokens on Coin98 Wallet with a few single steps. The guides on how to make transactions with Near on Coin98 Wallet are as follows:
Step 1: Open Coin98 Wallet & click Receive on the home screen.
Step 2: Search NearPAD Token.
Step 3: Copy the wallet address and send PAD to this address.
How to buy PAD Tokens
Coin98 Exchange is a decentralized exchange (DEX), a Multi-chain liquidity aggregator that offers users a wide variety of DeFi services (swap, stake, lend, borrow,...) through intuitive and simple interfaces.
You can use Coin98 Exchange to swap other tokens for PAD following these simple steps on: https://exchange.coin98.com/
Step 1: Connect to the Coin98 Extension Wallet.
Step 2: Choose coins/tokens for trading:
- Choose SushiSwap at the top of the trading screen.
- Search NearPAD.
- If the token is not shown, insert the token address: 0xea7Cc765eBC94C4805e3BFf28D7E4aE48D06468A
Step 3: Adjust the amount you want to swap.
Step 4: Adjust the gas fee, then click Swap.
Roadmap & Updates
On May 18th, 2021, the team has disclosed the 2021 roadmap:
Phase 1: Minimum Viable Product - MVP
- Minimum Viable Product or MVP refers to a new product that has been recently introduced in the market with basic features.
- In this phase, NearPad will offer a fixed swap rate pool for decentralized crowdfunding. It will support ETH-wNEAR-ERC20 fixed swaps for bootstrapping liquidity for projects.
Phase 2: Yield Farming
Portfolio management and auto-compounding tools for yield farming will go live. With these tools, users will be able to find, manage, and optimize yields across different protocols on the NEAR ecosystem.
Phase 3: NearPASS
NearPass is a Non-Fungible Ticket that gives you exclusive access to events and pools on NearPad. NearPass is designed to reward the community, loyal supporters, and bridge partners’ ecosystems. The community will also be able to mint these NFTs in exchange for PAD tokens. With NearPass, you will also be able to apply its attributes to increase allocation in the pool.
Is PAD a good investment?
Below are some highlights for your consideration:
NearPAD has had only one launchpad project - PULSE on October 7th, 2021. The ROI is actually not very good up to the moment of writing. PULSE price as of October 16th, 2021 is much lower than the IDO price.
NearPAD’s main competitors on Near Protocol include Skyward Finance and Heo Finance. Skyward Finance pursues a continuous auction model and Heo Finance does not require users to hold its native tokens to participate in IDO events. Heo Finance has shown little performance, meanwhile, ROIs on Skyward Finance are so far so good, but not extraordinary.
⇒ NearPAD is the only launchpad on NEAR that has a similar operating mechanism as leading IDO platforms on other ecosystems, such as Polkastarter (POLS), Solstarter (SOS), Cardstarter (CARDS),… and the IDO model has proven to be effective in the past.
As mentioned above, the PAD tokens are capturing value through being a Launchpad, a Yield Aggregator, and a DEX Aggregator. Any collected fees will be used to buy back PAD tokens and burn them.
⇒ In the future, if the team can catch up on their goals, the PAD value will depend on how many projects are launched on NearPAD, how much the swapping volume is when the team introduces its DEX Aggregator and how much the APYs, APRs it will offer when the team introduces the Yield Aggregator function. The more fees and PAD tokens that the platform can collect and burn, the higher PAD token value probably will be.
Team, Investors, and Partners
The team has not disclosed any information about its team members. Stay tuned with Coin98 Insight for further information in the future.
NearPAD closed its $2M seed round with the participation from NGC, NEAR Foundation, OWC, Ellipti, LD Capital, Flow Ventures, SuperNova Fund, ExNetwork, Genblock Capital, Arkn, and several other parties.
- Solstarter (Solana).
- Poolz Finance (Binance Smart Chain).
- Skyward Finance (Near).
- Polkastarter (Polkadot).
This article has included the most critical and detailed information on the PAD Token. Please leave any questions you have below, and we will get back to you as soon as we can!
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