Introducing KSM Starter
KSM Starter is the primary launchpad on Kusama Network, designed to empower projects and communities alike while leveraging the power of decentralized participation into a recognizable force within the entire ecosystem. Today, we are honored to introduce KSM Starter, share our vision, and provide essential information.
Benefits of Kusama Network
Kusama Network — the Canary Network on Polkadot — has established itself as vastly scalable, while providing much-necessary interoperability. The fundamental build of Kusama provides the perfect ground for emerging projects, as it allows for experiments while using Substrate to build towards final deployment on Polkadot. The speed of how Kusama Parachain Auction was brought also accounts for the level of both speed and complexity that Kusama Network can offer.
The team behind KSM Starter has long sought a comprehensive, collaborative launchpad that can not only help emerging projects raise capital but most importantly support the growth of the projects. Thus, Kusama Network was chosen as the most appropriate framework, and KSM Starter was built. KSM Starter is built to support the launch and growth of promising projects and introduce them to the Kusama ecosystem. KSM Starter does not in any way claim formal association or partnership with Kusama Network.
KSM Starter and the Kusama Parachain Auction
While the Kusama Parachain Auction shapes up to be an interesting, much-anticipated event, the excitement often leads to a false narrative that an emerging project must obtain a parachain slot on Kusama to build on the network. Kusama Network, just like any other blockchain such as Ethereum, can be used by emerging projects to connect and build upon without the need for parachain. Projects can connect to existing solutions such as Moonbeam to build on Kusama. In fact, most projects have no necessity to have their own parachain. Projects do not require a parachain to launch on Kusama, yet what these projects may need is a set of tooling that enables them to raise funds and launch on Kusama. This is where KSM Starter offers a solution.
KSM Starter allows any project to raise funds, as long as the projects are committed to exploring the possibility of joining the intricate Kusama ecosystem. Moreover, KSM Starter offers unique opportunities for these emerging projects to partner with experts and already established projects to continue building to deliver superior products that their communities can enjoy, while enriching the Kusama ecosystem.
Power in Democracy and Transparency
KSM Starter believes that true, genuine power is derived from democracy and transparency. This belief has been placed as a cornerstone of how KSM Starter is built, relying on the power of the community to direct KSM Starter in which projects to support.
KSM Starter Token (KST) holders are directly involved in the entire process of how IDOs (Initial DEX Offering) are offered on KSM Starter. Any projects are invited to apply for an IDO by filling out a simple form. After an initial due diligence process conducted by KSM Starter and ecosystem council partners composed of experts with proven track records, the IDO proposal is made public on KSM Starter. KST holders are empowered to support the IDO proposal by staking their tokens or reject the proposal by choosing to not stake their tokens. The minimum required vote is set to be dynamic according to the independent factor of the total IDO pool size set by the project.
This approach provides significant benefits for both the project and the community, in the following ways:
- Projects are able to engage with potential investors and future communities in the earlier stage of their pre-launch development rather than the latest stage. This allows projects to test public interest, build early community, and effectively increase their interest group to receive feedback and build superior products with significant support.
- Communities can win early whitelist allocations in projects which they have staked in favor. The early level of exposure also allows retail investors to be more deeply involved with the projects and obtain a sense of ownership.
Unified Communities in an Ecosystem
KSM Starter believes that a launchpad not only has the potential to build communities but also unify communities of different projects to be in support of another. KSM Starter also bases its belief in the duty of current projects to foster the growth of emerging projects, under the unified goal of further developing the ecosystem. KSM Starter accomplishes this in the following ways:
- The value-addition chain on IDOs: IDO participants enjoy an increased whitelisting allocation opportunity for not only holding KST but also holding the previous IDO tokens. This allows the community of supporters to be significantly rewarded while hedging the risks of holding a specific token by gaining opportunities to win whitelisting spots for the upcoming IDOs. This also enables the IDO projects to be highly interested in the success of the following IDOs, fostering partnership and mutual growth.
- The Ecosystem Council: KSM Starter Ecosystem Council is a continuously expanding body of experts and established projects. The council provides due diligence on the proposed IDO projects while offering advisory, partnership, and integration to the emerging projects that can benefit from a lending hand from some of the most well-established projects within the ecosystem.
Protection for IDOs and Insurance for IDO Participants
KSM Starter aims to be one of the most protected launchpads in the entire industry. This is why we have partnered with third-party projects to provide smart contract protection for each IDOs, allowing for the IDO itself to be technically competent. Moreover, KSM Starter is building a series of insurance products that offer risk-hedging for IDO tokens as these assets can be highly volatile in valuation.
KSM Starter is determined to offer multiple levels of protection to make both IDO launches and IDO participation a safe opportunity for all parties involved.
KST Auto Invest
KSM Starter is shaping to be the perfect platform for those who wish to have controlled, yet aggressive exposure to emerging projects. KST Auto Invest, currently in development, allows eligible participants to control the level of their exposure, while not having to tweak the details of that exposure on a continuous basis.
KST Auto Invest invites eligible participants to stake any amount of stable coin such as USDT and/or USDC to the designated staking pool. Once staked, the assets are automatically subscribed to the upcoming IDOs, allowing the participant to entirely skip the allocation subscription procedure. Once the staked stable coin has been depleted, the subscription suspends until additional stable coin assets have been added.
KSM Starter believes that KST Auto Invest can be used as a powerful, yet responsible tool for those looking to increase the diversity of their portfolio while being free of daily minuscule arrangements.
Current Progress and Upcoming Plans
At the current moment of writing (June 4, 2021) the entire KSM Starter team is advancing in building the platform, necessary contracts, and onboarding strategic partners. While the fully-built platform cannot be revealed to the public yet, we are excited to announce that KSM Starter already has 3 confirmed IDOs. This is a massive vote of confidence in KSM Starter, and we are truly grateful to our partners who are able to clearly see our vision.
We are dedicated to bringing more communities onboard while developing to become a launchpad that offers extraordinary, real value to projects and investors alike. KSM Starter invites everyone to become a part of a movement that aims to reignite a sense of unity and collaboration in the ever-growing space.
Telegram Announcement: https://t.me/KSM_starterANN
Telegram Community: https://t.me/KSM_starter