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What is ADAPad (ADAPAD)?
Luis Clark
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Luis Clark
What is ADAPad?
ADAPad is a deflationary launchpad solution for the Cardano (ADA) ecosystem. The project seeks to solve the issue of lack of innovation and reward decentralization in the blockchain space. To do so, ADAPad offers a democratic solution that enables people who hold ADAPAD tokens to invest in various Cardano ecosystem projects during their early stages.
The ADAPad platform is powered by ADAPAD, its native token.
Who is the Founder?
ADAPad was founded by BlueZilla, a self-styled crypto incubator. The development team is also behind projects like BSCPAD, TRONPAD, and ETHPad. They also claim to possess in-house marketers, traders, designers, influencers, and legal representatives.
How Does ADAPAD Work?
The primary deflationary mechanism of the ADAPad platform includes the following; early unstaking fees of up to 25% and a 10% fee on every token sale.
The sale fees are distributed as 7.5% and 2.5%. The 7.5% fee distribution is fixed to be used as a reward for staking ADAPAD, while the remaining 2.5% will be burnt forever.
For unstaking fees, users have the option of unstaking early but this comes with a 25% burn fee. That said, if users wait 8 weeks to unstake, no fees are attracted.
Key Features
ADAPad Lottery
ADAPad reserves 10% of its initial DEX offering (IDO) for lottery allocation.
The lottery system was developed to make ADAPad accessible to all community members. There is a low barrier to entering the littering system. Members who stake at least 2,000 $ADAPAD get 1 lottery ticket to participate in the IDO.
When more tokens are added to the total number available, it puts more pressure on the price. People who stake 4,000 ADAPAD receive 2 lottery tickets, and those who stake 6,000 $ADAPAD receive 3 lottery tickets.
Guaranteed Allocations
Just like the lottery, the guaranteed allocations is a system designed to make ADAPAD more accessible to community members. 90% of each project allocation is set aside for the guaranteed allocation round.
Unlike the lottery system, a minimum of 25,000 $ADAPAD is needed to unlock the guaranteed allocation in each project. The allocation per person is calculated using a pool weight mechanism. The higher the tier of the user, the larger their allocation.
Even though every tier outside of the lottery is a guaranteed allocation, Copper and Bronze tier members must complete the whitelist requirements. Members in the Copper tier and other higher tiers have access to unsold tokens from the first round. They can also purchase additional amounts. This is determined by a tier-based formula.
Incubator Program
The ADAPad incubator program is designed for new projects. ADAPad places a premium on identifying, selecting, and investing in the most promising teams and projects in the IDO space for cross-platform launches.
The program grants these teams and their new projects access to ADAPad’s legal department. The legal department will help the team set up the best jurisdiction for their project and token. The program also grants these new projects access to the following:
- ADAPad’s marketing and KOL network.
- Expert vesting schedule creation and tokenomics design.
- Access to ADAPad’s industry connections through its advisor and extended network.
- Exclusive access to ADAPad’s IDO platforms for the perfect launch.
You can join the incubator program by applying on ADAPad’s website. Once you click the “Apply” button on the homepage, you will be required to fill out a form. Vital information required in the form include:
- How much in USD are you raising in total?
- What are the vesting schedules for all rounds?
- What’s the initial circulating market cap?
- What is the fully diluted market cap at launch, What is your target market cap 3 months after launch?
- Who are your highest market cap competitors?
Don’t forget to share the link to the Program Telegram Group, your Website, Pitch Deck link, your Telegram handle, and your email address.
Weaknesses of ADAPad
ADAPad charges a whooping 25% fee for unstaking ADAPAD within 21 days of the initial stake. While this is done to prevent users from engaging in pump and dump behavior, it is hurting the users as they bear the ADAPAD price volatility.
ADAPad is also heavily reliant on the Cardano blockchain. If Cardano is negatively impacted in the future, ADAPAD price will also be affected and this can cause the ADAPAD price to nose dive.
How is ADAPAD Created?
All ADAPAD tokens were created at its launch by the development team with a total supply of 1,000,000,000. However, it currently has a circulating supply of 29,500,000.
Mining ADAPAD
All ADAPAD tokens were created at its launch so you cannot mine new blocks to create fresh ADAPAD tokens.
Which Blockchain does ADAPAD Use?
ADAPAD is an ERC-20 token on the Ethereum blockchain but it’s also compatible with the Binance Smart Chain.
How to Use ADAPAD?
ADAPAD is the native token of the ADAPad network. It can be used to access ADAPad staking tiers and unlock guaranteed project allocations.
The token also grants holders access to Initial DEX Offerings (IDOs) on the Cardano blockchain. All the holder needs to do is stake their ADAPAD and complete a one-time KYC process.
ADAPAD holders can also earn a yield in the form of ADA. This is gotten from the 10% sales tax on ADAPad.
How to Buy ADAPAD?
ADAPAD is available for purchase on several crypto exchanges, such as Gate.io, for example. A comprehensive list of all the exchanges that support ADAPAD is available on the Coin market cap website.
You cannot buy ADAPAD with fiat currency because it is an altcoin. You will need to buy USDT to be able to buy ADAPAD. Below are the steps on how to purchase ADAPAD:
- Create an account on a fiat-to-crypto exchange. This will enable you to use your fiat currency to buy USDT (this is pegged at a stable USD price).
- Buy USDT with fiat money. The amount of USDT you buy should be equal in value to the amount of ADAPAD you intend to buy.
- Transfer the USDT you just purchased to an altcoin exchange like Gate.io
- Deposit the USDT in your altcoin exchange wallet.
- Purchase ADAPAD with the USDT
How to Store ADAPAD?
ADAPAD can be stored in your software wallet on the exchange where it was purchased or on any other software wallet that supports the storage of altcoins like ADAPAD.
Alternatively, you could store ADAPAD on a hardware wallet like Ledger Nano S or Ledger Nano X. Hardware wallets are considered the safest storage option for any type of cryptocurrency or crypto token.
Most hardware wallets support most blockchains as well as a wide range of BEP-20 and ERC-20 tokens. They have a friendly interface and are easy to set up.
Unlike software wallets, hardware wallets are not prone to hacking attacks. This means that you can store ADAPAD in the wallet for as long as possible without worrying about the security of the tokens.
Best Place to Stake ADAPAD
The best place to stake your ADAPAD tokens is on the platform itself, which is at staking.adapad.io.
Staking your ADAPAD on the platform offers a varying APY. That said, you cannot stake on the ADAPad platform if you have an active withdrawal or unstake request pending.
The platform currently has over 9,000 staking users and approximately 217,719,078.8349 ADAPAD tokens staked.
What You Need to Know about the Future of ADAPAD
ADAPAD price reached an all-time high of USD 1.28 on October 2021, where the initial market cap was still very low. However, according to expert analysis, ADAPAD price may not reach its all-time high anytime soon. The performance of the token is also very unpredictable and is extremely dependent on the widespread acceptability of the ADAPad platform, future IDOs and successful launches, and other incentives.
This is a huge problem though for the ADAPAD token as the ADAPad platform has its issues in terms of user acceptability, as there is a lot of complaint about the platform’s trustworthiness in the crypto space. If this problem persists, ADAPAD price will not increase anytime soon.
Furthermore, even though the token is deflationary by default, a large portion of the maximum supply has still not been released into the market. With every release of additional tokens to the circulating supply, price pressure is being increased.
Conclusion: Should You Put Your Money in ADAPAD?
The ADAPAD token is the native currency of the ADAPad platform. So before you put money into ADAPAD you must understand the objective of the platform, agree with it, and trust that it will be widely accepted in the crypto space. This is because the performance of the token and the ADAPAD price is strictly dependent on the success of the platform it powers.
Risk in Investing in ADAPAD
Just as with any other cryptocurrency, ADAPAD is extremely volatile and you can lose your investment by putting your money into the token. So only invest money you’re willing to lose in the worst-case scenario.
Our extensive analysis of the different Cryptocurrencies doesn’t stop here. You can also check out our “What is Pancakeswap?” guide to know more about another huge project.
FAQ
Most frequent questions and answers
You can get ADAPAD tokens by registering with a cryptocurrency exchange like Coinbase and then purchasing the token using Ethereum on the exchange. You can also buy the token in Uniswap, Pancakeswap, Gate.io, and AstroSwap.
No, ADAPAD is not listed on the Binance exchange for trade and service.
The IDO ADAPAD price was $0.004.
Yes, the platform requires that you pass their one-time KYC process at least 3 hours before IDO time to participate in it.
In most cases, IDO participation isn’t possible for US citizens due to regulatory reasons.
For IDO participation you need to be currently staking ADAPAD tokens and have passed the platform’s one-time KYC a minimum of 3 hours before IDO time.
This is a blockchain bridge used to enable the transfer of assets, data, and tokens between blockchains. It is also used to enable smart contracts between blockchains.
An IDO utilizes a decentralized exchange to make the token sale faster. To do so, a crypto project founder will offer their exchange to an exchange and the platform will facilitate and conclude the distribution and transfer of the tokens. This is an entirely automated procedure that happens on the decentralized ledger.
With ADAPad the team will have total control of cross-platform launches which will enable liquidity sniping bot protection, staking systems, and a cross-chain bridge.
US citizens can participate in ICOs however, the problem is that most ICOs block investors from participating due to various financial and investment policies of US authorities.
IDO is a crypto token offering that takes place on a decentralized exchange (IDO platforms) while with an ICO, tokens are sold beforehand to an exchange listing.
The Cardano Foundation recently announced the Alonzo upgrade, which will enable smart contracts and decentralized finance functions on the Cardano ecosystem.
Enabling smart contracts and decentralized finance will likely result in an increase in projects having IDOs on Cardano and utilizing launchpad platforms like the ADAPad to achieve a massively successful launch.
ADAPAD’S market cap is $1,666,054.46, with a fully diluted market cap of $14,162,026.96 at the time of writing.
ADAPAD’s initial market cap was $118,000.
Circulating supply is the approximate number of coins that are circulating in the crypto market and available to the general public.
Yes certain factors can decrease or increase a company’s market cap.
ADAPAD’s total supply is 1 billion tokens.
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