XEND FINANCE INTRODUCES FIRST AFRICAN LAUNCHPAD, GIVING AFRICAN STARTUPS INCREASED INVESTMENT OPPORTUNITY

The Problem With Discovering African Blockchain Projects

Discovering and identifying projects when they are at an early stage is very difficult. It is even more difficult for African projects to get recognized at the early stages. This is why there are only a few African-based Blockchain projects, and a majority of them are only focused on remittances (i.e. sending money from other continents to Africa), leaving the hard work of building core infrastructure for Blockchain applications undone.

There are so many potential use cases of Blockchain in Africa, other than remittances, that projects that build these infrastructures might eventually become billion-dollar companies.

Missing out on those projects means you’re leaving out massive returns on the table, which is why we have created the Xend Launchpad by Xend Finance to help identify these projects and connect them with a community that will help bring their ideas to life. There are also great investors from Africa who want to invest in blockchain projects at early stages but do not have the exposure. This is also another major reason we have created this launchpad.

The Xend Launchpad is a springboard for projects that want to launch via sales of physical hardware devices, digital assets (including NFTs), or token sales. By staking and holding $XEND tokens, investors (which is accessible to all) can gain early access to the same top projects that are normally only available to top venture capitalists.

However, note that for projects to be listed and hosted by Xend Launchpad, they have to undergo thorough due diligence to ensure they meet high standards and have an excellent chance of success with our community’s support.

Some of the factors considered for the upcoming projects include:

• Promising project development roadmap
• Potential for large-scale adoption
• A dedicated and experienced team
• Ability to benefit the expansion of a broader crypto ecosystem

Once projects go through a selection process, they get featured on Xend Launchpad, where community members can participate and invest in the project’s offerings.

Funds raised through the Xend Launchpad are non-refundable; all the funds raised will be dedicated to the project upon completion of the Project Offering.

Why Xend Launchpad Increases Exposure And Investment Opportunity

Xend Launchpad was designed due to the need to develop more African-based projects and connect these projects to the international community. As Galaxy Digital CEO, Mike Novogratz said during his keynote speech at the Xend Finance DeFi Hackathon 2021, “… For Blockchain to develop in Africa, it’s going to take a tremendous amount of work and investment, not just from Africa, but the world.”

Projects that make it into the Xend Launchpad will benefit from the large community, marketing power, and investor network at Xend Finance. However, this is not targeted towards African projects only — other projects from different parts of the world that also want the opportunity to be seen by Africans can also apply to be part of this launchpad.

This Xend Launchpad will also provide more utility for the $XEND token. To participate in the project offerings of the selected projects, community members will have to stake $XEND tokens.

Features of Xend Launchpad

• Device Holders Offering (DHO): Device Holders Offering is a fundraising mechanism where eligible investors in a particular project invest in a project’s offerings by pre-ordering the physical items produced by the project, and in turn, they will get tokens and other perks being offered by the project. This is a relatively new concept to initial offerings on the blockchain, which will allow projects building physical hardware devices connected to the blockchain to raise funds by pre-order sales of these devices.
• NFT Sales Launchpad: Projects that want to launch using NFTs based on the concept of initial coin offerings, can launch their project by offering a set of limited edition non-fungible tokens for sale via Xend Launchpad. The NFT market is getting very popular and the NFT Launchpad rises as a solution to incentivize and reward investors and the communities. The NFT Sales Launchpad empowers participating investors to benefit from the inherent supply scarcity of the NFTs, as well as other perks such as tokens offered by the projects.
• Multi-Chain Support — Xend Finance supports Binance Smart Chain out of the box. It will soon support other Blockchains with flexible pool types and whitelist conditions. Projects will be able to choose the Blockchain which they want to launch on.

How To Participate

Users will need to complete a KYC verification process before participating in any project. Users are also required to stake $XEND tokens and pre-fund their wallets with a minimum amount specified for the project in order to participate in any project’s offerings.

• View Project Details: Investors are expected to read through the project details for any project they want to participate in. The team members for upcoming projects would provide technical documents, plans, and roadmaps to the community to understand their project idea and what they are trying to achieve.
• Xend Power: This is a result of a calculation based on the wallet of community members. It is a function of the various activities a wallet performs on the Xend Finance Platform such as Staking or Holding $XEND tokens for a certain period and performing activities such as Saving using any of the strategies on the Xend Finance Platform.
• Whitelist Process: Users will be whitelisted via a lucky pool draw (random selection) with preference to users with more Xend Power and the funds will be deducted from their wallets at the end of the draw period. Users who are not whitelisted can withdraw their funds at the end of the whitelist period.

How to Apply for Xend Launchpad

Click the link below and provide details of the project. The review team will get back to the project team. To evaluate the project, as a minimum requirement, you will be required to enter details about:

• Project metrics
• The team behind it
• Tokenomics
• Overview and use-cases
• Roadmap, updates, and business development
• Updated development progress
• Activity and a community overview
• Community and social channels

Link to apply: https://applylaunchpad.xend.finance

Disclaimer

Xend Launchpad by Xend Finance will not charge projects any fees to launch their projects. We are also not under any obligation to launch projects unless the Xend Finance team deems projects fit for launch.

Xend Launchpad does not have any specific times or periods to launch projects and can decide whether or not to launch projects.

This Launchpad was created with the sole purpose of exposing great African projects to the world and also giving African investors an opportunity to invest in early-stage blockchain projects.