VelasPad
Crypto Overview
Overview
VelasPad is a launchpad platform built on the Velas blockchain that aims to facilitate new project launches and token sales. It serves as an initial DEX offering (IDO) platform where projects can raise capital and users can participate in early-stage token sales.
Purpose and Utility
The primary utility of VLXPAD token includes: governance rights over the platform, access to new token launches, and tier-based participation in IDOs based on the amount of VLXPAD held. Token holders can stake VLXPAD to gain allocation rights in upcoming project launches.
Business Model Analysis
The platform's core business model revolves around facilitating token launches and sales, which constitutes a legitimate exchange of digital assets. There is no evidence of the platform engaging in interest-based lending or gambling activities.
Development and Adoption
The platform has facilitated multiple IDO launches since its inception. The development team maintains regular updates to the platform infrastructure. Integration with the Velas ecosystem provides technical legitimacy to the project.
Token Distribution
The token distribution includes allocations for the team, advisors, and early investors with standard vesting periods. While specific percentages are not publicly available in recent documentation, the distribution model follows typical launchpad token structures.
Platform Operations
The core operations involve real asset exchange through IDO participation and staking mechanisms. Users receive actual token ownership and platform utility in exchange for their investment.
Crypto Impact
To assign a comfort level investing in VelasPad from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to VelasPad.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.