The First-Ever Automated Self-service Insured Launchpad — LIFTOFF

5 min readFeb 8, 2021

The beginning of 2021 created many all-time-high records for altcoins. With these staggering records, a lot of people had shrugged their shoulders and ignored cryptocurrency news started to gain interest. For both these newbies and average investors, finding safe opportunities in good and legit projects without getting scammed is hard. Many people lost a lot of money in the 2017 ICO boom.

Exit scams are stopping investors from joining new project launches for fear of fake developers launching a new crypto platform then disappearing with investors’ money and abandoning the project. Investors and newbies alike are on the hunt for a place where they can feel safe investing. The existing self-service fundraising market for ERC20 tokens and projects has not given investors many options to safely jump on the wagon.

INTRODUCING LIFTOFF

LIFTOFF is a sophisticated, flexible, and dominating technological breakthrough that tackles the above issues by combining several solutions to further Lid Protocol’s directive of making the DeFi space a safer place for investors. LIFTOFF will help reshape the self-service presale market entirely.

What is LIFTOFF?

LIFTOFF is the first-ever fully self-service insured launchpad. LIFTOFF.eth provides the most advanced token sale buyer protections to date.

LIFTOFF has 3 core features to protect investors:

Crash Insurance.

As the name implies, crash insurance is offered to investors to redeem at the presale price. If for whatever reason the investor is unhappy with their investment in the first week of the project going live, tokens can be redeemed for 100% of the presale price minus a 2% ETH service fee (Insurance fee). For the next 9 weeks, the insurance is still available but reduced. If no claims were made in the first week, the insurance fund is reduced to 42.5% (however, 100% of the presale price can still be claimed). The insurance fund then reduces 10% per week. Crash Insurance will be offered and available on all LIFTOFF launches. 100% Crash Insurance lasts for 1 week after listing while the reduced insurance pool lasts 9 subsequent weeks.

2. Gradual Payments

Project Devs are paid in ETH 10% per week over 10 weeks, minus any insurance redemptions.

As the project developer's pay is 10% per week for 10 weeks, the project developer is incentivized to continue active involvement. Time delays also create a high effort barrier, albeit not perfect, to scammers.

3. Free Liquidity

Each sale uses xETH with XLOCK to generate 10% Free Liquidity. Liquidity is locked immediately upon listing with set allocations of both ETH and native tokens. XLOCK takes advantage of this knowledge to ascertain a certain amount of ETH will never be removed from the pool. It adds this bonus ETH back as xETH, increasing liquidity by 10% for free for a total ETH sale allocation of 110%. The liquidity pool value is preserved and crash insurance can be offered to investors.

Other protections and benefits include:

Required informational disclosures

The Liftoff launchpad has both required and optional fields that project devs fill to provide information about their token sale. Buyers of tokens on the LIFTOFF platform are then able to exercise discretion both from the information is given and request explanation from the project devs for missing information.

2. Smart contract token distribution

Tokens are encouraged to already have a live, working Dapp as one of the fields provided in the launchpad. Lack of a live, working Dapp for a token sale should act as a red flag and a strong warning sign to everyone.

3. No team tokens

LIFTOFF does not allocate the project developers any tokens. Fair allocation, meaning 100% of tokens to liquidity and users, removes the volatility from insider sales. To acquire tokens, project developers must allocate some amount of their ETH payment to purchasing tokens. This provides price stability and reduces volatility risks

4. PenguinSwap partnership.

PenguinSwap is a newly developed and deployed front-end interface that interacts with Uniswap’s contracts. By using PenguinSwap the potential is there to get better value trades asPenguinSwap offers a greater variety of preferred routing tokens. PenguinSwap helps prevent Vampire Arb Bots from stealing from LIFTOFF launched projects.

LIFTOFF has included these extra protections to help potential token buyers greater trust and participation in the fundraising process.

THE LIFT TOKEN

LIFT is the platform token for LIFTOFF, incentivizing the development of a strong community around the platform. LIFT holders receive many rewards and benefits after applying to join the LIFT Club. The Tier 1 Membership requires 1 LIFT and a verified Discord account. 3% of each sale on LIFTOFF is airdropped to LIFT Club Members. LIFT Club Members vote to verify Sales on LIFTOFF they believe to be of exceptional value.

THE LIFTOFF PLATFORM

The LIFTOFF platform is a fully decentralized, autonomous, self-service platform. By fully decentralized, we mean the LIFTOFF platform cannot be censored or managed by any centralized authority. The domain LIFTOFF.eth is hosted on ENS, a fully decentralized domain service. The Dapp files are hosted on IPFS, a decentralized hypermedia protocol. LIFTOFF’s smart contracts are deployed on the Ethereum Mainnet as well as Ropsten.

Why LIFTOFF?

Compared to others, LIFTOFF provides far greater security and protection to investors. As mentioned above, the increased security and protection can potentially lead to greater trust and contribution participation from potential token buyers.

With the guarantee of liquidity being instantly locked, and crash insurance offering investors the potential for their money back, it is a win-win for both team and investor alike.

Being a self-service portal, the level of entry is easily accessible to all potential projects. With set allocations of raised ETH and native tokens, liquidity security and crash insurance can be realized on each and every LIFTOFF presale launch.

Stay tuned for more updates and announcements.

For more information about the project, please visit:

Liftoff platform: https://liftoff.eth.link

Xeth wrap/unwrap: https://xlock.eth.link

Lid Protocol: https://lid.eth.link

LiftOff Announcements: https://t.me/LiftOffNews

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