Magic Square Launches New Launchpad Platform to Bolster Web3 Projects with Its 4.5 Million Users and 1,400 Applications
Magic Square has announced the launch of its new launchpad platform, a significant development in the Web3 sector designed to facilitate Initial DEX Offerings (IDO). This platform is strategically designed to support and accelerate the growth of Web3 projects by leveraging Magic Square's substantial user base and extensive app ecosystem.
The newly introduced Magic Launchpad is a modular multi-chain platform that emphasizes the quality of projects through a rigorous application process. According to the team at Magic Square, this approach not only maximizes the utility of the platform but also ensures fair access to investment opportunities. The platform pays particular attention to transparency, allowing projects of all sizes and development stages to have an equal chance of success.
Andrey Nayman, founder and CEO of Magic Square, highlighted the integration with their existing infrastructure. "This deep integration with our current infrastructure will transform how early-stage projects attract funding and support within the Web3 ecosystem," Nayman stated.
The launchpad platform leverages over 4.5 million user wallets and more than 1,400 projects registered on the Magic Store Web3 App Store. In addition, the platform is supported by one of the leaders in the crypto industry, Binance Labs, which significantly enhances its capabilities.
Magic Square aims to democratize the interaction with the App Store and now seeks to do the same with investments by lowering barriers and enabling the community to support cutting-edge Web3 projects. "Teams raising funds through Magic Launchpad are not merely attracting capital; they are creating deep integrations with our infrastructure, which allows them to build unique communities," Nayman explained.
Several types of IDO will be featured on Magic Launchpad, providing the community with broad access to various sectors of Web3 innovations. Users can use SQR tokens to accumulate SQRp points, which are used to determine the distribution volume during the launch of certain projects. Additionally, some events will utilize a whitelist structure, while others will offer private rounds, giving potential investors various participation opportunities.
A unique feature of the platform is the Road-to-IDO campaign conducted before each IDO. This allows users to earn tokens by engaging with the project's community and platform before it hits the Magic Launchpad.
The first IDO on the platform will be conducted by the decentralized platform Storm Trade, based on the TON blockchain, which works in tandem with Telegram and offers leveraged trading up to 50x across various markets. Storm Trade is supported by the venture firm Ton Ventures. To mark its launch on Magic Launchpad and the imminent release of its native token, Storm Trade has allocated 5 million STORM tokens (approximately 0.05% of the total volume) for the Road-to-IDO campaign.
Storm Trade promises high-yield liquidity pools, SocialFi elements, and a user-friendly interface, all underpinned by maximum security through complete decentralization, as emphasized by the platform representatives.
With these comprehensive features and robust support structures, Magic Square's new launchpad platform is poised to significantly expand fundraising capabilities for projects and facilitate the formation of robust communities around them.
