Genesis Shards to Bring Liquidity to Pre-IDO Projects Launched on CardStarter
CardStarter to Collaborate with Genesis Shards to Wrap Pre-IDO Tokens into NFTs for Liquidity
We are proud to announce that CardStarter, the world’s first Incubator, Launchpad and Insurance program for Cardano projects, will partner with Genesis Shards, the industry’s first liquidity provider for pre-initial dex offering (IDO) tokens, to wrap illiquid tokens of CardStarter launched projects as non-fungible tokens (NFTs) for trading. Projects selected for this collaboration will also benefit from the co-mentorship of the CardStarter Accelerator Program (CAP) and Genesis Shards’ mentorship program.
Early investors today have limited options for the tokens they own after successfully participating in presales. Initial tokens are often withheld from their rightful owners until the time of successful exchange listings. This practice prevents rogue actors from listing the tokens early with little liquidity, creating a negative environment for unsuspecting traders and detrimentally impacting the project. The post-launch to pre-IDO period can range from days to weeks, during which investment liquidity is tied up. By wrapping these time-locked fungible tokens into NFTs, called Gen Tickets, Genesis Shards changes the game by bringing liquidity to previously illiquid tokens.
Gen Tickets can be traded as DeFi options based on the value of the underlying assets and the derived value of a decreasing time till unlock. In addition to liberating investor liquidity, projects can also leverage the pre-market trading activity to begin growing community support. Now, the utility of Gen Tickets does not stop at IDO. Token vesting schedules can be coded onto the NFTs. As such, Gen Tickets can continually be traded even after unlocking a portion of the tokens.
Built on Polkadot, Genesis Shards will also use Moonbeam’s Ethereum relays to bring cross-chain liquidity to the ecosystem. Many projects built on younger platforms may only have access to lower market liquidity. By enabling cross-chain swaps on Genesis Shards own NFTX exchange these projects will not only be able to benefit from the liquidity of the NFT market but also the deeper liquidity of more mature platforms.
The initial scope of the collaboration focuses on the development of Gen Tickets for CardStarter launched projects. Subsequently, projects selected for the premium CardStarter Accelerator Program will also be embedded with Genesis Shard’s access networks and mentor partners. This dual mentorship aims to foster a nurturing environment for projects optimizing the chances for long term success.
By promoting liquidity in pre-IDO markets, both parties look forward to fostering innovation and research in the Cardano network.
About CardStarter
CardStarter is the first Incubator, Launchpad and Insurance program for projects being built on the Cardano network. The CARDS platform is a unique and dynamic launchpad, connecting projects to early investors 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’ investments with an in-house insurance program. CardStarter is proudly partnered with X21 Digital, BlockSync Ventures, Moonwhale Ventures, 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.
About Genesis Shards
Genesis Shards is a decentralized ecosystem powered by Polkadot redefining NFTs as DeFi options, creating a permissionless environment of interchain liquidity for pre-IDO tokens. By wrapping time-locked fungible tokens into NFTs, Genesis Shards is creating a new marketplace for previously illiquid tokens.
