GUMPad — Gourmet Galaxy’s Crowd Funding platform
IDO, standing for Initial DEX Offering, is a crowdfunding model using a liquidity DEX as a fundraising platform. In 2020 and 2021, IDOs rose up as a reliable source of Crowd Funding for Blockchain startups instead of the outdated ICO (Initial Coin Offering) model and IEO (Initial Exchange Offering) model due to the following reasons:
- Instant access to Liquidity right after listing. IDOs provide new projects with a source of Liquidity right from DEXs.
- Reduced Costs: Instead of paying Centralized Exchanges a large sum for listing fees, IDOs allow startup projects to crowdfund without the middle man which reduces costs.
- Instant Listing: IDO projects usually get instant listing right after the IDO has finished.
At Gourmet Galaxy, we believe that Crowd-Funding will be a big part of the future global economy, and IDOs will be the most efficient source of crowdfunding. As a DeFi Ecosystem, our aim is to bring Finance and Opportunities to the people, and that includes the chance to invest in potential startups with no barriers.
Welcome to GUM Pad!
GUMPad
GUMPad allows cryptocurrency projects to raise funds by setting up a swap pool based on a fixed purchase rate for tokens.
With GUMPad, decentralized projects will be able to raise and exchange capital cheaply and quickly. Users will be able to participate in a secure and compliant environment and to use assets that go way beyond the current ERC20 standard.
How does it work?
GUMPad has two different types of users: Blockchain Startups and Investors. GUMPad enables Blockchain Startups to list their tokens at a fixed purchase rate and allows Investors to exchange their liquidity for tokens.
Suppose Bob is a Startup owner who wants to create liquidity and raise more funds prior to his DEX listing for his tokens. He can build multiple pools for multiple token standards to attract more potential investors.
In another example, we’ve got Sally — a potential investor looking for quality projects. Sally will take a look through GUMPad pools, and choose to invest in the pool that she likes most. This pool may be built on BSC, HECO, Ethereum, or Polkadot. After this, Sally simply swaps her liquidity (USDT, DAI, ETH, HT, BNB, DOT, etc…) in exchange for the project’s tokens.
Sally wouldn’t have to worry about the price rate, slippage, gas, cheaters, bots, or anything else due to GUMPad’s features.
Features of GUMPad
What are the key features of the platform?
Multichain support and Cross-chain pools
We call it Gourmet Galaxy for a reason. Decentralization has no limits, that is why we don’t want to limit it to one Blockchain. Purchasing and transferring assets between different types of Blockchain is a must-have feature for any platform. GUMPad is in fact a permissionless DEX for cross-chain token pools and auctions.
GUMPad supports 3 chains at the moment: Huobi Eco Chain (HECO), Binance Smart Chain (BSC), and Ethereum (ETH). This allows users to choose between their favorite Blockchain, and avoid the inconvenience of high Ethereum gas fees while still making use of its maturity and ecosystems.
This cross-chain pool system is powered by BSC and HECO bridge, which allow interoperability between Ethereum, HECO, and BSC.
Below is an illustration of how asset transfers between BSC and Ethereum work:
With the ability to interoperate with Binance Smart Chain and Huobi Eco Chain, GUM Pad making use of these high-speed, low-fees platforms in order to fully terminate the gas-war.
GUM Holder Offerings (GHO)
GUM Holder Offerings was originally inspired by DAO Maker SHO but with a little touch of Gourmet.
Projects participating in GHO must go through 3 rounds:
Round 1: Strategic Round
The Strategic Round is open to angel investors who commit to bringing priceless value to the project.
On GUMPad, the Strategic Round token price will always be equal to at least 80% of the GHO token price to avoid GUM Holders getting REKT.
Round 2: Gum Holders Offerings
Gourmet Galaxy will conduct a scan of different GUM Wallets to calculate the holding score. The longer you hold GUM, the more allocation you will be given to purchase from the project.
The hold score will be calculated as follows:
Hold score = [(GUM in Wallet) x (Time GUM has been in wallet)] /100 + (Times GUM has been transferred into wallet) / (Times GUM has been transferred out) x100
Times GUM has been transferred out minimum value will always be 1.
For example, if Bob holds 5,000 GUM in his wallet for 200 days, with a total of 5 times GUM Transferred into his wallet, and he has never transferred any GUM out, his hold score will be:
[5,000 x 200]/100 + [5/1 x100] = 10500 points
Another example of this: If Alice holds 2,000 GUM in her wallet for 100 days, with a totem of 10 times GUM transferred into her wallet, and 2 times GUM transferred out, her hold score will be:
[2,000 x 100]/100 + [10/2 x100] = 2500 points
The project can then select from a list of top holders to distribute allocations accordingly to their hold score. The minimum amount of GUM needed to participate in Gum Holders Offering is 2,000.
Round 3: Public Round
This round will open for anyone who wish to participate in the IDO. The rule for this round will depend on different projects.
Support for Whitelisting and Antibot
GUMPad will allow support for whitelisting and anti-cheat filter. Different CAPTCHA protocols will also be enabled to reduce bots as much as possible.
Investor Insurance
Projects on GUMPad will be Researched, Audited, and Insured by reputable third-parties. The names of the third party projects and the process will be announced soon.
Anti-Slippage
Using Oracle technology from third-party providers, GUMPad will incorporate a built-in notification system that notifies users when token prices increase too much, or if trades will suffer from increased slippage.
Website: https://gourmetgalaxy.io/
