Generalize
Information
What is SuiPad (SUIP)? SuiPad is a premier launchpad for innovative blockchain startups on the Sui network. Our flagship product is the SuiPad launchpad, an IDO launchpad that allows the community to participate in early-stage token sales for stringently vetted Tier-1 projects. With the official partnership with MystenLabs, our unique curation process and industry access enable us to offer the best new projects in the Sui blockchain.
What makes SuiPad (SUIP) unique? The Problems We Want to Address:
1. Lack of Knowledge Among Retail Investors: Most AMAs and project information shown online favor the project owners more. IDO participants have very limited knowledge as to how to properly analyze a project from different angles and metrics. 2. Token Price Falls below IDO Price: Many IDO participants suffer from tokens dumping right after TGE, especially in a bear market.
SuiPad Killer Features:
1. Sui Tank: An educational and entertaining Web3 Shark Tank series. With 6 VC panelists ready to grill the project owners from ground up so that participants can see the real deal behind every project, eliminating the camouflage that most projects tend to do nowadays. 2. SuiPad Shield Insurance: An innovative insurance feature to safeguard participants' principal capital, tailoring to everyone's risk appetite.
What is SuiPad (SUIP) roadmap?
Q1 2023: - SuiPad on Tesnet - Multiple wallet integration - Tesnet IDO for multiple projects on Sui - Continuous marketing push and community building
Q2 2023: - SuiPad on Mainnet - $SUIP IDO - Staking pool and SuiPad Shield - 1st batch of IDO (4 projects)
Q3 2023: - Production of SuiTank first season (8 Episodes) - SuiTank first season on air - 2nd batch of IDO (8 projects) - 1st Cohort of SuiPad Incubation Program
Q4 2023: - 1st Cohort of SuiPad Academy - 2nd Cohort of SuiPad Incubation - 3rd batch of IDO (8 projects)
How does SuiPad Shield work?
Currently in the market, most launchpads/IDO platforms do not have protection in place to safeguard users' principal capital against volatility when investing in newer crypto projects, making it an extremely high-risk activity for IDO participants. At SuiPad, we have engineered an Insurance feature to protect the user's principal capital. For example, if a user buys the IDO round of a launchpad project, the user can choose to add 15% of invested funds to buy insurance. The insurance fee will then be sent to the SuiPad Shield Pool. The SuiPad Shield Pool will then cover any potential loss of the user's principal capital for the next 7 days - on the 7th day since the IDO launch, if the average peak price is lower than the IDO price, the SuiPad Shield Pool will cover the differences to the user, so the user's principal capital is well protected. On the other hand, if the project does well, the user's return will be infinity% - 15% paid in insurance costs.
Insurance Protocol Mechanism:
- Launchpad participants can decide if they want to purchase SuiPad Shield. - All the insurance fee will go to the insurance pool directly. - The fund will be used to repay the loss of IDO investment. - After 7 days, DAO will calculate the average peak price of 7 days (UTC+0). - If the average peak price dropped below the IDO price, the difference will be covered. If the insurance pool does not have enough funds to repay the debt, funds raised from project IDO will be used. - If the insurance pool is not utilized, it will be accumulated for subsequent launches.
SuiPad Staking & Tiering:
SuiPad Tier System is one of the cores of the SuiPad Platform, ensuring a certain level of commitment and allowing stakers to participate in project IDO. SuiPad Staking & Tiering go hand-in-hand. To qualify for a specific tier, you must stake $SUIP tokens on SuiPad.
There are 6 tiers, namely:
- Ruby: 2,500 SUIP staked - Sapphire: 5,000 SUIP staked - Emerald: 10,000 SUIP staked - Diamond: 30,000 SUIP staked - Crown: 50,000 SUIP staked - Sui: 100,000 SUIP staked
The more SUIP you stake, the higher tier you earn, the bigger allocation size you get for project IDO. There will be a 15-day cool-down period after staking. We constantly review our tiering, weightage, and distribution mechanism to ensure the most fair model for our community.
SuiPad Lock Multiplier:
SuiPad Lock Multiplier system enables SUIP stakers to enjoy a higher tier without having to stake additional tokens. When you lock your staked SUIP for a predefined term, you'll be able to enjoy a multiplier to your staked SUIP. There are 3 locking terms you can choose, each with a set multiplier:
- 3 months → 1.3x Multiplier - 6 months → 1.5x Multiplier - 12 months → 2x Multiplier
For example, Kelly who staked 2500 SUIP (Ruby tier), decided to lock the staked SUIP for 12 months, she will then receive a 2x multiplier for her staked SUIP resulting in the smart contract recognizing it as 5000 SUIP (2500 SUIP x 2), hence she is now getting the Sapphire tier. 12 months later, Kelly's staked SUIP is now unlocked, she will get her tier refreshed from Sapphire back to Ruby, and she can unstake the 2500 SUIP that she staked one year ago. This Lock Multiplier mechanism allows our committed community to be able to earn a higher tier without having to stake additional tokens, at the same time contribute to the overall governance of SUIP.
SuiPad Shark Tank (SuiTank):
SuiTank is a reality show series in which Web3 builders pitch their business to a panel of venture capitalists to secure investment from them. This is so-called the Web3 Shark Tank. The show features a panel of experienced VCs, termed as "Sharks", who listen to builders' pitches for their business or product. These VCs will judge the business concepts and products pitched and then decide whether to invest, live on the show. The participants are Web3 builders, product designers, or service operators who have what they consider to be a viable and potentially very promising project, but who lack funding and/or business acumen. Before the show, the participants have named a specific amount of funds they wish to get along with a % in the project that the participants are offering to sell to the VCs. The rules stipulate that if they do not raise at least this amount from the sharks, they get nothing. The sharks probe the idea further once the participants have made the presentation. This will either reveal a sound business proposition resulting in an investment offer from one or more of the sharks or a withdrawal from the transaction by all of the sharks. SuiTank is a reality show meant to be an educational program for the community to learn from experienced VCs on how to analyze a project and a platform for builders to showcase their products and eventually raise funds. Stay tuned for SuiTank!
SuiPad Academy:
SuiPad Academy is a 16-week full online Web3 coding bootcamp that trains people to become Web3 developers. We offer a full-time, 16-week program that covers front-end and back-end technologies, computer science fundamentals, as well as Web3 development that includes SuiMove as the core. Remote classes are live and interactive and include one-on-one help, professional mentorship, opportunities to build real products, and frequent code reviews. We also help students find employment within the Web3 space by providing interview preparation, portfolio review, effective resume writing tips, and salary negotiation practice. To participate, students will need to purchase $6,000 worth of $SUIP tokens and stake on SuiPad throughout the 16 weeks of learning.
Information
What Is SuiPad (SUIP) Crypto?
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 industrys 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.
How Does SuiPad Work?
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 users principal capital for seven days after the IDO launch.
The funds will also cover any difference in average peak price, protecting the users 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.
History of SuiPad and SUIP Token
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.
Answers
Is SuiPad (SUIP) a Good Investment?
Is SuiPad (SUIP) a good investment? As the official launchpad of the Sui network, there are several reasons that make SUIP an interesting investment to consider. Despite being 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. The official launchpad supporting the Sui ecosystem, SuiPad, could experience growth in developer activity on the blockchain, which 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 SuiPads services. The increased on-chain activity could support the $SUIP price in the market. Additionally, the SUIP price statistics could be boosted by a positive outlook among investors toward cryptocurrencies in general and key industry sectors, such as DeFi and web3.
What Is SuiPad Crypto Price Prediction?
What is SuiPad crypto price prediction? 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:
Level of Adoption
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.
Future Developments
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.
Market Outlook
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.
What Is SUIP Token Used For?
What is SUIP token used for? 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 projects 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). Its also possible to trade SuiPad crypto on exchanges to profit from changing market conditions and volatility. Buy or sell SUIP/USDT on BYDFi 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.
How to Stake SUIP on SuiPad
How to stake SUIP on SuiPad? 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 launchpads IDOs and other activities. Watch this space for more information!
What Is SuiPad Tokenomics?
What is SuiPad tokenomics? As per the SuiPad tokenomics mentioned on the projects 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: 20% will be allotted to the projects team members, 3% will be given to advisors, 2% of the supply will be assigned for the pre-seed round, 14.2% goes to the seed round for institutional investors, 22% will be allocated for SuiPads strategic sale. The remaining tokens have been distributed for IDO (9.8%), initial liquidity (10%), marketing and community activities (4%), launchpool (2%), and DAO Treasury (13%).
Who Are SuiPads Partners and Investors?
Who are SuiPads partners and investors? Official partners of SuiPad include Mysten Labs, Moonrock Capital, and Cleevio. SuiPads investors include NGC Ventures, Cogitent Ventures, GBV Capital, Rarestone Capital, Kernel Ventures, Kairon Labs, DAO Maker, and Maven Capital.
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- Is it possible to integrate suipad with popular cryptocurrency wallets in order to facilitate smooth and seamless trading? I am interested in using suipad for my cryptocurrency transactions, but I want to ensure that it can be easily integrated with the wallets I already use. Can suipad be connected to popular wallets like Coinbase, Binance, or Trust Wallet?2021-11-24
- Can you explain the advantages of using suipad, a cryptocurrency trading platform, for trading digital currencies? How does suipad stand out from other platforms and what features does it offer to enhance the trading experience?2021-11-24
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