Yes, the rumors are true! CardStarter, the world’s leading incubator, launchpad and insurance program for Cardano projects, will launch the Unvest IDO. Allow us to introduce Unvest, “the multi-chain protocol for trading locked tokens.”
Token lockups and vesting schedules are now standard practice among projects seeking early investment capital; investors have the opportunity to buy tokens early at low prices, and projects are able to secure capital with less fear of large sell-offs. This was an improvement of the IDO model, but in practice forces tradeoffs between both parties: On one hand, investors see large profits on paper but may be unable to realize them. On the other hand, projects must balance price stability against the wishes of private investors and VCs, on whom they depend for a significant portion of their investment capital.
Enter, Unvest. The proposition is simple, but groundbreaking for the vested IDO model: make locked tokens tradable. Liquid Vesting Tokens, or LVTs, can be traded without affecting the underlying price of the trading pairs they represent. Teams still enjoy the benefits of vesting schedules, investors can take profits early (with less fear of waiting to sell during a bear market), and the overall market becomes more efficient.
Based on the concept of liquid vesting, Unvest plans to release a full suite of features, which include:
- Liquid Vesting Tokens (LVTs)
- Liquid Vesting NFTs:
These NFTs will allow the Liquid Vesting concept to work effectively with linear (block-by-block) and high-frequency (e.g. daily or hourly) vesting schedules.
- Liquid Locks:
This function will allow already launched projects to conduct sales with the same liquid vesting functionality.
- Razor (fundraising with built-in KYC/AML and SAFT management)
- The Unvest Marketplace:
Once enough projects are using Liquid Vesting in Unvest’s closed beta, a public marketplace for locked assets will be released.
The $UNV token has four main use cases:
- Stake for protocol revenue (non-dilutive)
- Burn to access Razor (and other future products)
- Payment in marketplace
- Voting & governance
Unvest Liquid Vesting is a noncustodial vesting platform and trading protocol implemented for the Ethereum Virtual Machine. The Unvest contracts work in tandem with atomic swap contracts and decentralized order books to facilitate the trustless trade of tokens locked in early investor vesting schedules. Unvest provides free-to-use tools for projects running IDOs, curates a public-facing market interface and generates ecosystem revenue on pre-unlock trading activity.
Unvest is a multi-chain project with a strong focus on Cardano. Unvest has joined IOHK’s Plutus Pioneers program and will be deploying their tools to Cardano mainnet after a thorough testing and peer review process.
Unvest is founded by Kiran Matthews, previously Head of Product at Termius, a startup backed by Y Combinator & Initialized Capital (the first investors in Coinbase). Their lead smart contract developer, Klaus Vidal, created Prettier Solidity — a key tool used by Uniswap, Bancor, Open Zeppelin, Gnosis Protocol, Synthetix, Gelato, The Sandbox, UMA and others.
The team has experience working for leading technology organizations like Google, AirBnb, Dropbox, Microsoft and Facebook.
CardStarter is the first incubator, launchpad and insurance program for projects on the Cardano network. The CARDS platform is a unique and dynamic launchpad, connecting projects to early supporters and a network of key partners. The Cards Accelerator Program (CAP) team works with each project individually to establish the right connections and map marketing strategies, establishing the foundation for long term success.
CardStarter is also differentiated by its charge to protect its supporters. CARDS provides unbiased third-party audits of every project’s code and protects IDO participants with an in-house insurance program. CardStarter is proudly partnered with X21 Digital, BlockSync Ventures, Plethori, Fractal, PARSIQ, Scryptic Tech and Longtail Financial. Once fully built, CardStarter will be an all-inclusive platform with a decentralized exchange to complement the current offerings. CardStarter also aims to be a nurturing force in the Cardano ecosystem, with hackathons and project development support being a major focus of the roadmap.