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Binance Labs supports Magic Square as it announces the Magic Launchpad, marking a new era in the Web3 world. This long-awaited development aims to assist the creation and growth of early-stage Web3 projects as a decentralized fundraising platform.
What Does Magic Launchpad Promise?
Unlike traditional IDOs, Magic Launchpad promises a fairer opportunity for small-cap investors. The platform plans to ensure fairness with unique allocation strategies that consider user activity and contributions to the Magic Square ecosystem. This could enable a broader user base to participate in new and promising projects.
This is not Magic Square’s first step into the fundraising space. Having previously acquired another IDO platform named TruePNL, Magic Square laid the foundation for Magic Launchpad with this experience. The new platform allows projects to raise capital from Magic Square’s community of 4.5 million users while rapidly growing this community.
In addition to its launchpad, Magic Square offers a wide selection of Web3 applications, including dApps, CeFi and DeFi platforms, NFTs, and Blockchain games. Users are rewarded as they interact with the platform, encouraging participation in the ecosystem. Thus, Magic Square becomes a comprehensive hub for Web3 enthusiasts.
Aiming to Present Quality Projects?
Magic Launchpad’s multi-chain platform aims to present high-quality projects through a rigorous application process. This ensures fair access to investment opportunities, allowing projects to compete on equal terms. Magic Square’s founder and CEO, Andrey Nayman, comments on the matter:
“By deeply integrating with Magic Square’s existing infrastructure, we are ready to redefine how early-stage projects raise funds and gain support in the Web3 ecosystem. Projects raising funds through Magic Launchpad not only secure capital but also build a broader community thanks to deep integration with our infrastructure.”
Magic Launchpad will include various types of IDOs and provide the community with broad access to all sectors of Web3 innovation. Users will stake SQR tokens to earn SQRp points, which determine allocation sizes in project launches requiring points.
A Highlighted Feature
A highlighted feature of Magic Launchpad is the Road-to-IDO campaign held before each IDO. This campaign allows users to interact with the projects’ community and platform before they launch on Magic Launchpad, earning token rewards.
The first IDO on Magic Launchpad will be for Storm Trade, a groundbreaking permanent DEX on the TON Blockchain. Storm Trade will integrate directly with Telegram to offer trading with up to 50x leverage across various markets. To celebrate the launch of Magic Launchpad and the release of the STORM token, Storm Trade has allocated 5,000,000 STORM tokens for the Road-to-IDO campaign.
Magic Square addresses user acquisition challenges, increases participation, and offers a rewarding, community-focused experience. Supported by Binance Labs, the platform has over 4.5 million registered users and more than 1,300 listed applications and games.
