SuiPad is the first decentralized launchpad on the Sui Network, supporting promising crypto projects on the high-speed blockchain via IDOs. It offers a strategized token launch experience with a customized launch model, period, accepted token types, and auction algorithms.
The SuiPad launchpad is designed to empower Sui project owners, both Token and NFT, and is built from the ground up to support one of the industry’s safest and most scalable Layer 1 blockchains. It has established an official partnership with Mysten Labs, the firm behind the development of the Sui blockchain.
SuiPad is community-centric and allows community members to participate in early-stage token sales for vetted Tier-1 projects through its flagship product, the SuiPad launchpad. The launchpad enables the community to curate projects and participate in the launch.
SUIP is the native token of the SuiPad ecosystem; it can be staked by users who want to participate in IDOs and project launches on the SuiPad platform.
SuiPad is a decentralized launchpad built on the Sui Network, which will offer a strategized token launch experience for Sui project owners. The launchpad platform aims to provide a safe and secure environment for investors and project owners on the Sui blockchain.
In addition to offering a launchpad for Tier 1 projects on Sui, SuiPad has also introduced a revolutionary insurance protocol mechanism called SuiPad Shield. This protocol provides insurance coverage for projects listed on SuiPad and protects investors against any potential risks associated with the launch of new tokens.
A user participating in an IDO round of a project on SuiPad has the option to add 15% of invested funds to buy insurance. The insurance fee, managed by the SuiPad Shield Pool, will cover any potential losses to the user’s principal capital for seven days after the IDO launch.
The funds will also cover any difference in average peak price, protecting the user’s original investment and making IDO participation less risky.
SuiPad Shield works by pooling the insurance fund, which is used to reimburse investors for any losses incurred due to project failure or malicious activities. In this manner, SuiPad makes launching new crypto projects on Sui more accessible, transparent, and customizable by utilizing blockchain technology and innovative mechanisms.
SuiPad was co-founded by CEO Joe Wan and CMO Daffy Lau. It is the official launchpad partner of Mysten Labs and aims to become the premier launchpad for Tier 1 projects on Sui.
The project went live on the Sui testnet in Q1 2023. Other developments in the quarter included integrating support for multiple wallets, supporting testnet IDO for various Sui-based projects, and community building and marketing activities.
As of May 2023, the team behind the project aims to launch SuiPad on the Sui mainnet in Q2 2023. Based on the SuiPad roadmap, other focus areas include $SUIP IDO, the official SUIP staking pool, and SuiPad Shield launch, and launching the first batch of projects on the launchpad.
In Q3 2023, SuiPad has plans to launch the production of its SuiPad Shark Tank, a reality show for web3 builders to pitch their business to VCs and raise funding. In addition, the project also plans to support the next batch of IDOs and launch the first cohort of its incubation program.
Goals for Q4 2023 include the first cohort of SuiPad Academy, a 16-week SuiMove online coding bootcamp to encourage more developers to join the Sui ecosystem. SuiPad also plans to launch the second cohort of its incubation initiative and support more projects on its platform.
As the official launchpad of the Sui network, several reasons make SUIP an interesting investment to consider. Although a new entrant in the crypto industry, the Sui blockchain is backed by established names and offers a highly scalable and versatile platform to power the web3 revolution.
As the official launchpad supporting the Sui ecosystem, a growth in developer activity on the blockchain could increase the appeal of the SuiPad launchpad. As more developers build and deploy projects on the network, there could be a higher demand for SuiPad’s services.
The increased on-chain activity could support the $SUIP price in the market. In addition to the rising adoption of Sui’s network and the SuiPad launchpad, the SUIP price statistics could also be boosted by a positive outlook among investors toward cryptocurrencies in general and key industry sectors, such as DeFi and web3.
Although providing a precise SUIP crypto price prediction is impossible, there are a number of factors that can be attributed to price action and volatility in SuiPad crypto. These include:
Increased adoption of the Sui network and the SuiPad platform among BUIDLers could support the price of SuiPad token in the market. As the platform supports more projects on its IDO launchpad, more users could buy and use the SUIP token, increasing the SuiPad value.
As the SuiPad platform rolls out more features in the future, such as its web3 Shark Tank, incubation program, and academy, the value of SUIP crypto could head higher. Developments such as new partnerships and investments could also boost investor confidence and send the SUIP to USD price higher.
A favorable outlook among investors toward digital assets and critical areas of the industry, especially web3 and DeFi, could also increase the demand for SUIP tokens in the market. The SuiPad price could strengthen amid positive or bullish sentiment in the crypto market. On the other hand, bearish conditions could cause selloffs that weaken the SUIP price.
SUIP is the native token of the SuiPad launchpad. Users who want to participate in IDOs taking place on SuiPad will need to stake SUIP tokens.
The more tokens users stake, the higher tier they can earn and the bigger the allocation size they can receive during a project’s IDO. Staking tiers are divided into Ruby (2,500 SUIP), Sapphire (5,000 SUIP), Emerald (10,000 SUIP), Diamond (50,000 SUIP), and Crown (50,000 SUIP).
It’s also possible to trade SuiPad crypto on exchanges to profit from changing market conditions and volatility. Buy or sell SUIP/USDT on KuCoin Spot Market or hold the token long-term if you believe in the prospects of the SuiPad project. Remember to DYOR before making investment decisions, as the crypto market is subject to high risks and unpredictability.
As of May 2023, the official staking program on SuiPad is yet to go live. Once it does, users can connect their wallets to the SuiPad platform and stake $SUIP tokens to participate in the launchpad’s IDOs and other activities. Watch this space for more information!
As per the SuiPad tokenomics mentioned on the project’s official documentation, the total supply of $SUIP is fixed at 100,000,000.
The initial circulating supply is set at 20,696,000 SUIP tokens, of which 10,000,000 will be for liquidity. The SUIP token distribution is as follows:
1. 20% will be allotted to the project’s team members.
2. 3% will be given to advisors.
3. 2% of the supply will be assigned for the pre-seed round.
4. 14.2% goes to the seed round for institutional investors.
5. 22% will be allocated for SuiPad’s strategic sale.
6. The remaining tokens have been distributed for IDO (9.8%), initial liquidity (10%), marketing and community activities (4%), launchpool (2%), and DAO Treasury (13%).
Official partners of SuiPad include Mysten Labs, Moonrock Capital, and Cleevio. SuiPad’s investors include NGC Ventures, Cogitent Ventures, GBV Capital, Rarestone Capital, Kernel Ventures, Kairon Labs, DAO Maker, and Maven Capital.