In-depth Analysis of SuiPad: An Integrated Launchpad Solution

Source: veDAO Research Institute

SuiPad is the first IDO, ISO, and INO Launchpad project built on the Sui public chain. According to official news, on May 7 and 8, SuiPad will conduct OG (Private) and WL (Public) round IDOs on DaoMaker. Below, veDAO will provide an in-depth analysis of the project's features and innovative gameplay.

1. Introduction to SuiPad

SuiPad is a community-centered new project launch platform within the Sui ecosystem. It is a Tier 1 project on Sui, and through its official partnership with Mysten Labs, SuiPad will become an integrated solution for project launches on Sui. Its flagship product is the SuiPad launchpad, which is an IDO launchpad. It offers users the best new projects in the Sui blockchain through a unique planning process and industry access.

2. Features of SuiPad

Currently, users participating in IDOs mainly face two issues:

1) Small and medium retail investors lack the knowledge and ability to professionally participate in early-stage innovative projects. Many IDO participants have very limited knowledge on how to analyze projects correctly from different perspectives and indicators. Project teams have more professional knowledge, but without professional VC investors, retail investors find it difficult to ask more professional and objective questions.

2) After obtaining tokens from IDOs, users often find that the secondary market price is lower than the IDO price at TGE. This causes many IDO participants to suffer immediate losses after TGE, especially in a bear market for cryptocurrencies. To address these issues, SuiPad offers the following solutions:

2.1. Sui Tank

SuiTank is a reality show series where Web3 startup teams pitch their projects to a VC investment group in a reality show format. This is known as the Web3 Shark Tank.

The show consists of a group of experienced VC investors known as "sharks," who listen to the project team's pitch about their business or product. These VCs will evaluate the business model and product of the pitched project and then decide whether to invest, in a live broadcast format. Participants include founders, product designers, or service operators of Web3 startups. Before the show begins, the project team must specify the amount they aim to raise in a private placement and the token ratio for investors.

The rules also state that if the project cannot raise at least this amount from the sharks, it is considered a fundraising failure, with a raised amount of 0. This means that after the pitch, one or more sharks must propose investment offers that exceed the initial amount set by the project team; if they do not, all shark offers become invalid.

SuiTank aims to serve as an educational program for the community to learn how to analyze projects from experienced VCs, as well as a platform for Web3 startups to showcase their products and ultimately raise funds. It is educational and has a certain entertainment value for users. The six professional VC team members of SuiPad conduct comprehensive, multi-angle, and in-depth inquiries with the project teams, allowing small and medium retail participants to gain a comprehensive and objective understanding of the project's true situation, eliminating the disguises and subjectivity often present in most projects' promotional activities like AMAs.

2.2. SuiPad Shield Insurance

Currently, most launchpad/IDO platforms do not offer protection for users' principal against losses after they win a lottery, which poses a high risk for IDO participants.

SuiPad has designed an insurance feature to protect users' principal. For example, when participating in an IDO, users can choose to add 15% of their investment amount (note that this is based on the winning allocation) to purchase insurance. The insurance premium will then be sent to the SuiPad Shield pool. The SuiPad Shield pool will compensate for any potential losses to the user's principal within the next 7 days—on the 7th day after the IDO launch, if the average highest price is below the IDO price, the SuiPad Shield pool will cover the difference for the user, thus protecting the user's principal. On the other hand, if the project performs well, the user's return could be infinity% minus the 15% insurance fee paid.

Insurance Agreement Mechanism

• Launchpad participants can decide whether to purchase SuiPad Shield.
• All insurance fees will go directly into the insurance pool.
• Funds will be used to repay IDO investment users for losses incurred within 7 days. The DAO will calculate the average highest price over 7 days (UTC+0) to determine whether there is a loss and how much.
• If the average highest price is below the IDO price, the difference will be compensated. If the insurance pool does not have enough funds to repay the debt, the funds raised from the project IDO will be used to cover the shortfall.
• If the insurance pool is not used, it will be accumulated for future payouts.

SuiPad Shield is an innovative insurance feature of SuiPad that protects IDO participants' principal. IDO users can choose whether to use the insurance feature, and they can also opt for partial funds to be insured, allowing the risk-return characteristics of the lottery to be adjusted according to each individual's risk preference.

2.3. Other Advantages

SuiPad Academy: A complete 16-week online Web3 development coding bootcamp aimed at training users to become Web3 developers. It offers a full-time 16-week course covering front-end and back-end technologies, foundational computer science knowledge, and Web3 development centered around Sui Move. The remote course is interactive in real-time and includes one-on-one assistance, professional guidance, opportunities to build real products, and frequent code reviews. It also helps students find jobs in the Web3 space by providing interview preparation, portfolio reviews, effective resume writing skills, and salary negotiation practice. To participate in SuiPad Academy, students need to purchase $6000 worth of SUIP tokens and hold them on SuiPad throughout the 16-week learning period.

SuiPad Marketing Strategy: Bringing high-quality projects to the platform IDO through Mystenlabs, driven by KOLs from different regions. Activities include Zealy events, OAT events on Galxe, and AMAs with KuCoin and other communities.

3. SuiPad Token Staking and Tiering

The SuiPad Tier System is one of the core components of the SuiPad platform, rewarding loyal users and ensuring that users hold tokens for a certain period. SuiPad Staking and Tiering are closely related; to qualify for a specific tier, users must stake SUIP tokens on SuiPad.

Users can be divided into 6 tiers based on the number of staked tokens, namely:

• Ruby: Stake 2500 SUIP
• Sapphire: Stake 5000 SUIP
• Emerald: Stake 10000 SUIP
• Diamond: Stake 30000 SUIP
• Crown: Stake 50000 SUIP
• Sui: Stake 100000 SUIP

The more SUIP a user stakes, the higher the tier they achieve, which may result in a larger allocation when participating in any project IDO. There will be a 15-day cooling-off period after staking (meaning that staked amounts will be used for tier calculation only after exceeding 15 days). SuiPad will continuously adjust its tiering, weighting, and allocation mechanisms to ensure the fairest distribution model.

SuiPad Lock Multiplier

The SuiPad Lock Multiplier allows SUIP stakers to enjoy higher tiers without needing to stake additional tokens. When users lock their staked SUIP for a predefined period, they will be able to enjoy a multiplier on their staked SUIP. Users can choose from 3 lock options, each with a fixed multiplier:

3 months → 1.3x multiplier 6 months → 1.5x multiplier 12 months → 2x multiplier.

For example: Kelly stakes 2500 SUIP (Ruby tier) and decides to lock her staked SUIP for 12 months; she will then receive a 2x multiplier on her staked SUIP, causing the smart contract to recognize it as 5000 SUIP (2500 SUIP x 2), thus elevating her to Sapphire tier. After 12 months, Kelly's staked SUIP will be unlocked, and her tier will revert from Sapphire back to Ruby, allowing her to unstake the 2500 SUIP she staked a year ago.

This Lock Multiplier mechanism allows loyal community members to achieve higher tiers without needing to stake additional tokens, while also contributing to the overall governance of SUIP.

The specific allocation of SUIP tokens is as follows:

4. Roadmap

Q1 2023

• SuiPad launches on Testnet
• Multiple wallet integrations
• Testnet IDOs for multiple projects on Sui
• Ongoing marketing push and community building

Q2 2023

• Official mainnet launch of SuiPad
• SUIP launch IDO
• Staking pool and SuiPad Shield
• First batch of IDOs (4 projects)

Q3 2023

• Production of SuiTank Season 1 (8 episodes)
• Broadcast of SuiTank Season 1
• Second batch of IDOs (8 projects)
• First batch of SuiPad incubation program

Q4 2023

• First session of SuiPad Academy
• Second batch of SuiPad incubation
• Third batch of IDOs (8 projects)

5. Team

Joe Wan, Co-Founder and CEO: Previously worked in the launchpad and listing departments of top CEXs, with extensive experience in successfully financing projects.

Daffy Lau, Co-Founder and CMO: Previously worked in the marketing department of top CEXs, with rich experience in project screening and assisting projects in going public.

David Tiser, Co-Founder and CTO: Leadership at blockchain company Cleevio, has led teams of over a thousand people, with extensive experience in web3 and DeFi development.

6. Financing Information

• Private financing: On April 27, SuiPad announced the completion of over $1.15 million in financing, with NGCVentures as the sponsor for this round, and participation from GBV Capital, RareStone Capital, Cogitent Ventures, Kernel Ventures, Kairon Labs, NewTribe Capital, MoonRock Capital, Extra Watts, Hype, Panony, DAO Maker, Maven Capital, Criterion, Limitless Value Capital, Autonomy Capital, and others.
• Public financing: On May 7 and 8, SuiPad will conduct OG (Private) and WL (Public) round IDOs on DaoMaker:
• OG (Private) round sale: Starts on May 7, 2023, at 13:00 UTC
• OG (Private) round price: $0.035
• WL (Public) round sale: Starts on May 8, 2023, at 13:00 UTC
• WL (Public) round price: $0.05
• Token distribution: May 11, 2023, at 12:00 UTC

For more information, refer to: https://medium.com/@suipadxyz/suipad-ido-guide-5560fa802d38

The token release rules for financing are as follows:

Related Links

Website: https://www.suipad.xyz/

Twitter: https://twitter.com/SuiPadxyz

Discord: https://discord.com/invite/suipad

Telegram: https://www.instagram.com/suipadxyz/

Youtube: https://www.youtube.com/@suipad