Cardano (ADA), the second largest proof-of-stake (PoS) blockchain, welcomes a new decentralized protocol to its dApp ecosystem. With Coinecta, fundraisers, investors and stakeholders will not have to rely on third-party intermediaries to execute seed funding campaigns.
Coinecta Launchpad Joins the Cardano (ADA) Ecosystem
Coinecta, a novel decentralized launchpad for Web3 products, starts on the Cardano (ADA) blockchain. Coinecta is organized to provide a transparent and secure system for funding rounds of cryptocurrency protocols in the Cardano (ADA) ecosystem. The platform will be based on CNCT, a core native cryptocurrency asset.
According to statements from its team, Coinecta is a decentralized, fully open and community-backed on-chain cryptocurrency protocol, with no venture capital backing in any growth phase.
The Coinecta team is seeking regulatory approval for its product in El Salvador, one of the most cryptocurrency-friendly jurisdictions globally and a major Bitcoin (BTC) hub:
Work continues on the legal aspect. We are waiting to hear from the government of El Salvador if our license application is approved. As things slowly progress, we have begun to explore other options in other jurisdictions in order to move forward with the sale of the CNCT token.
Once launched, the CNCT token will be staking; The level of participation will represent the level of participation of this or that investor in Coinecta’s fundraising campaigns.
Additionally, the IDO launchpad will accept Cardano’s core token, ADA, and Djed (DJED), the first decentralized stablecoin natively launched on the Cardano (ADA) blockchain.
Introducing cross-chain IDO for Cardano (ADA) and Ergo (ERG)
In addition to offering a new level of accessibility for Cardano-based IDOs, Coinecta attempts to overcome the barriers of cross-chain integrations for clients of the protocol.
That is, the platform collaborates with ErgoPad, a decentralized token sale platform on Ergo (ERG), a proof-of-work (PoW) blockchain based on Ethash.
As such, Coinecta could be one of the first cross-chain IDO launch platforms on Web3.
Additionally, Cardano (ADA) welcomes its first on-chain derivatives trading platform, OptionFlow, as previously covered by U.Today.
