Built on the robust foundations of the Magic Square community, featuring over 4.5 million unique user wallets and more than 1400 projects registered with the Magic Store Web3 App Store, Binance Labs-backed Magic Square proudly announces the launch of its new Initial DEX Offering (IDO) platform, Magic Launchpad. While primarily serving as a fundraising platform, Magic Launchpad also significantly enhances growth solution and community building within the Magic Square ecosystem.
Magic Launchpad is a strategic, modular, multi-chain platform that emphasizes the quality of projects through a rigorous application process being done by the Magic Square team. This ensures optimal leverage of the platform’s capabilities for both users and projects. It provides fair access to investment opportunities and prioritizes transparency, allowing all projects—regardless of their size or development stage—to have equal opportunities to succeed.
“By deeply integrating with Magic Square’s existing infrastructure, we are poised to redefine how early-stage projects raise funds and gain support in the Web3 ecosystem,” said Andrey Nayman, Founder and CEO of Magic Square.
“Magic Square has democratized the App Store process and now we are doing the same to investing by lowering the barrier to let our community back cutting-edge Web3 projects,” said Andrey Nayman, Founder and CEO of Magic Square. “Projects that raise through Magic Launchpad don’t just raise capital, the deep integration with our existing infrastructure means they can build a community like never before.”
Magic Launchpad will feature several types of IDOs, giving the community broad access to all sectors of exciting Web3 innovation. Users stake $SQR tokens to earn SQRp points, which is used to determine their allocation sizes in certain project launches that require points. Additionally, some launches may be structured as whitelist events, and others as private rounds, offering diverse participation avenues for potential investors.
A standout feature of the Magic Launchpad is the Road-to-IDO campaign which is hosted before every IDO. This allows users to earn token rewards by becoming active in the project’s community and on its platform before it hits the Magic Launchpad.
The first IDO on Magic Launchpad will be for Storm Trade, a groundbreaking perpetual DEX on the TON blockchain. Supported by Ton Ventures, Storm Trade integrates directly with Telegram to offer trading with up to 50x leverage across various markets. Celebrating the Magic Launchpad’s introduction and the imminent release of the $STORM Token, Storm Trade has allocated 5,000,000 $STORM tokens (≈0.05% out of the total supply) to the Road-to-IDO Campaign. Storm Trade features high-yield liquidity pools, social-fi elements, and a user-friendly interface, all underpinned by top-tier security through full decentralization.
About Magic Square
Magic Square is the first Web3 App Store, designed to tackle the challenges of user acquisition, enhance user engagement, and offer a rewarding experience through its community-driven platform. The platform connects high-quality users with projects, fostering meaningful interactions and growth. Backed by Binance Labs, Magic Square has over 4.5 million registered users and more than 1,300 apps and games listed on its platform. With the upcoming release of the Magic Launchpad, Magic Square is set to become a comprehensive solution for growth hacking, encompassing brand awareness, user acquisition, and now fundraising.
This post was last modified on May 17, 2024, 17:42 BST 17:42