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Guides
PAID Network Launchpad Comprehensive Guide
07/17/2023

PAID Network Launchpad Comprehensive Guide

07/17/2023
4,5

Interested in navigating the PAID Network Launchpad? Our comprehensive guide breaks down how to participate, the platform's unique features, and its current status. Immerse yourself to make informed decisions!

Navigating the cryptocurrency sphere can seem like a daunting task for newcomers. However, the PAID Network has emerged as a notable beacon with its innovative Ignition Launchpad. Our guide aims to demystify the intricacies of this Launchpad, equipping you with essential insights for informed participation. Ignition, born in 2021, has been instrumental in launching over 100 noteworthy projects, connecting ground-breaking ideas with the power of crowd-sourced funding. Ignition isn't merely an IDO Launchpad; it serves as a portal for the PAID community to discover remarkable projects. With its user-friendly interface and unique lottery system for PAID token holders, Ignition provides an avenue for limitless opportunities in the world of blockchain.

Source and Copyright © Paid Network

What is PAID Network?

Diving into the world of cryptocurrency, you might find the PAID Network an interesting point of focus. PAID has been hailed for its unique SMART Agreements. These agreements reinvent the traditional contract systems, replacing them with simplified business contracts. These are user-friendly, drafted in plain language, and are signed on-chain between two parties engaging in business.

  • Key features of PAID Network include:
  • Escrow System: This acts as a secure middleman during transactions, safeguarding each party's interests.
  • Insurance Mechanism: This feature allows parties to protect their contracts against potential defaults.
  • Dispute Arbitration: When disputes arise, three randomly selected arbitrators from the PAID community, chosen via the staking of PAID tokens, intervene to resolve the issue.

Adding to this, PAID Network embraces DeFi tools such as borrowing, lending, and insurance pooling. As a PAID token holder, you have the opportunity to participate in liquidity pools or secure loans for your business pursuits.

The network also incorporates a DAICO model to gather investments for new projects. This model promotes project accountability and transparency by closely monitoring each project against its roadmaps.

PAID ensures the security of business contacts by employing a biometrically enabled reputation scoring system. This prevents potential bad actors from creating new accounts to defraud future business contacts and lets business contacts view others' transaction histories and feedback.

In essence, the PAID Network positions itself as a comprehensive business toolkit in the crypto space, facilitating smooth and secure business transactions.

How Does PAID Network Work?

PAID Network's Ignition operates on an engaging lottery system where each lottery ticket signifies an entry into the public sale lottery. To qualify for a lottery ticket, you must stake a minimum of 1,000 PAID tokens in your wallet, from the time of whitelisting to the IDO period. This lottery system is divided into three tiers based on the number of tokens staked. These are:

  1. Moon Tier: If you stake 1,000 or more PAID tokens, you fall under the Moon tier. For every 1,000 tokens staked on Ignition, you'll receive a lottery ticket. Moon Tier is aimed at those who have between 1,000 to 74,000 staked tokens during whitelisting. For token holders with 75,000 tokens or more, additional benefits are offered beyond the Moon Tier.
  2. Galaxy Tier: As a token holder, if you've staked a sum total of 75,000 or more PAID tokens on Ignition, you are eligible for the Galaxy Tier. This qualifies you for a guaranteed allocation in the public sale of an IDO project. Plus, you'll also receive lottery tickets as per the Moon Tier rules. For instance, with 75,000 staked tokens, you'll receive one guaranteed allocation in the public sale and 75 lottery tickets, one for each 1,000 staked tokens.
  3. Cosmos Tier: The Cosmos Tier is designed for those who have staked more than 150,000 PAID tokens. This tier comes with two guaranteed public allocations, or in the case of a private sale, one private, pre-sale allocation. Not all projects offer private sale allocations, and their availability varies between projects. Additionally, you'll be eligible for Moon Tier lottery tickets based on the number of staked tokens.

In essence, the PAID Network's Ignition Lottery Tier System provides an engaging and equitable method for participants to stake tokens and partake in public sale lotteries. However, as with any crypto venture, it's essential to be well-informed and make astute decisions. Citizens and residents of the United States of America cannot participate in IDOs on PAID Network launchpads.

Statistics and Performance

According to data from cryptorank.io, PAID Network currently ranks 8th among similar platforms in the industry. So far, it has successfully accumulated approximately $23.14 million in investments. The platform boasts a commendable track record, with a return on investment (ROI) that has surged to an impressive 26.19x at its peak.

This trend suggests a level of confidence among up-and-coming blockchain initiatives that choose PAID Network for their token launches. It also illustrates the potential benefits for retail investors who engage in IDOs on the platform. Despite its current standing, PAID Network continues to be an active participant in the field of blockchain project launches, continually striving to build on its performance and market presence.

The results of ROIs on the All-time highs (ATH) for past IDOs held on PAID Network are shown in the following table.

Past IDOs ATH ROI
MetisDAO [METIS] 66.40x
Star Atlas DAO [POLIS] 136.52x
Star Atlas [ATLAS] 194.48x
Cornucopias [COPI] 21.28x
Ternoa [CAPS] 7.92x

What do you need to participate in IDO on PAID Network?

For participation in an IDO on the PAID Network, follow these steps:

  1. KYC Completion: Undertake the Know Your Customer process, a verification measure to confirm your eligibility and compliance with regulatory standards.
  2. Lottery Entry: With successful KYC, register for the lottery. This requires your wallet address(es) and acknowledgment of PAID Ignition's rules. If successful, your ERC/BNB address lands on the winner's list.
  3. PAID Tokens Staking: Staking the minimum required tokens on a single wallet is a requisite. This step opens up the opportunity to participate in IDO lotteries.
  4. Join Ignition Pool: As a lottery winner, you're required to join one or more Ignition platform launch pools, which grants access to redeem IDO tokens.
  5. Token Redemption: After the project starts trading, tokens can be redeemed. Keep in mind, the exact time of redemption is determined by the project, not Ignition.

By following these sequential steps, you're set to participate in the PAID Network's IDO. As with all crypto ventures, ensure you fully understand the process and the associated rules.

How to get whitelisted on PAID Network IDO

Gaining a place on the PAID Network's IDO whitelist involves traversing the Ignition Launchpad's lottery system. The first step is securing PAID tokens, the platform's native currency. Next, you need to stake these tokens on the platform, with 1,000 PAID tokens equivalent to one lottery ticket. Boost your chances of being whitelisted by staking more PAID tokens, with each additional set of 1,000 tokens netting you an extra lottery ticket. However, bear in mind that the process is lottery-based, and owning more tickets simply increases the likelihood, not a certainty, of whitelisting. Ensuring compliance with the PAID Network's staking rules is key to success.

How to participate in PAID Network IDO

To participate in an IDO on PAID Network, there are several key steps to follow.

Step 1. Registration

Initially, you need to register by clicking the 'Ignition' button on the project homepage and then scroll to the about ignition section and click on the link  'Raise the bar, be fueled by Ignition' link

From the Ignition page you need to click 'Sign In' at the top right and fill out the registration form. Once you confirm your registration via email, you can log into your account.

Step 2. KYC completion

Next, you should verify your identity or complete your Know Your Customer (KYC) process. After confirming your registration, find the 'Complete KYC' button and click on it. This process will require some personal information, an official ID document, and a facial scan to ensure user authenticity.

Step 3. Connecting a crypto wallet

Once registration and KYC are complete, connect a crypto wallet, such as MetaMask, to the Ignition website. Click 'Connect Wallet' at the top right corner and follow the prompts until your crypto wallet number is displayed on the screen.

Step 4. Buying PAID tokens

The following step involves purchasing PAID tokens, the native tokens of the platform, with a minimum amount of 1,000 required for IDO participation. These tokens can be bought from exchanges such as:

Step 5. Participation in IDO

After acquiring PAID tokens, stake them on the designated page on the website. Then, select the desired project and apply for whitelisting. Finally, all that's left is to wait for the results of the lottery, keeping in mind that participation does not guarantee a whitelist spot.

Project Team

The PAID Network comprises a global team of seasoned IT professionals, drawn from various fields and bearing years of experience in handling substantial projects. Here are some of them:

 

Kyle Chasse — CEO

 

Dane Hoy —  Head of Incubation

 

 Rosita Panmas —  Digital Marketing Manager

PAID Network Roadmap

The PAID Network's projected development plan outlines several milestones set to be accomplished by the end of the second quarter of 2022:

Q1 2022:

  • Introducing PAID Borrowing and Lending services.
  • Establishing PAID Decentralized Insurance for agreements, goods, and services.
  • Launching the PAID P2P and B2B Marketplace.
  • Developing PAID Enterprise Modular Contracts.

Q2 2022:

  • Releasing native mobile applications for both Android and iOS platforms.
  • Providing public API for seamless integration.
  • Facilitating undercollateralized loan services.
  • Implementing stakeholder voting for full DAO functionality.

Whitepaper

The PAID Network whitepaper is a crucial document that outlines the project's vision, infrastructure, and strategic approach. Authored by the team behind PAID, it provides a deep dive into their innovative solutions and goals. It can be found at this link.

Should I choose PAID Network?

Whether or not you decide to use PAID Network is a personal choice that, as always, necessitates giving serious thought to the platform's offerings, goals, and risks. With SMART Agreements, PAID Network presents a novel, blockchain-centric approach to corporate interactions. Additional safeguards are provided by mechanisms like dispute arbitration and insurance.

It's worth noting that despite PAID Network's innovative platform, the cryptocurrency market is notoriously unstable and difficult to predict. While the platform does include safeguards to reduce some hazards, it cannot guarantee complete safety. Users should understand that in the highly unpredictable world of cryptocurrencies, no project's merits or potential can guarantee its success or profitability.

Some users also could be put off by the platform's lottery system for distributing tokens. Those who would rather have a fixed allocation based on the quantity of tokens held may find this method difficult, but it is intended to assure fairness.

In conclusion, the PAID Network is an intriguing initiative that uses blockchain technology to streamline business dealings. Users should do their homework, acquire a feel for the platform's strategy, and weigh the benefits and drawbacks thoroughly before diving in.

FAQs

Is PAID Network Safe?

PAID Network uses blockchain technology, offering inherent transparency and security. However, as with all crypto-based platforms, users should conduct due diligence, stay updated with the platform's security measures, and remember that while the platform mitigates risks, it doesn't eliminate them.

How do I participate in PAID Network?

To partake in PAID Network's Initial DEX Offerings (IDOs), you need to stake PAID tokens, complete KYC verification, and adhere to the lottery system guidelines for token allocation. Remember to connect your crypto wallet to the Ignition platform for transactions.

What makes PAID Network Unique?

PAID Network revolutionizes business contracts through SMART Agreements, reducing complexity and cost. It blends traditional business contracts with blockchain's security. Additional features include dispute resolution, escrow services, insurance, and DeFi tools, making PAID Network a comprehensive solution for business transactions.

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The materials found on the Cryptonica website shall not be taken as individual investment recommendations. The financial instruments or operations mentioned therein may not align with your investment profile or objectives. We assume no responsibility for any missing facts or inaccurate information in the texts. Cryptocurrencies are financial assets with high risk and volatility. Therefore, it is crucial that you conduct your own research on financial instruments and make independent decisions. Before engaging in any actions related to cryptocurrency, you shall study, understand, and comply with the laws applicable in your region and country.

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