A breakdown of the first token launch using the WingRiders Launchpad, funds raised, token launched, and case study for next supporters and projects.
After months of preparation, the first WingRiders launch commenced and the outcome was openly seen all across the Cardano community. For future participants searching for new tokens, and for projects aiming to launch their token, the following blog will showcase what to expect, data-driven numbers, and also highlight the final outcome for the first projects’ token using the non-custodial, decentralized, automated smart contracts launchpad.
Launch of The WingRiders Launchpad UI
Following DAO community voting, several months dedicated to meticulous development, and a rigorous audit, the highly anticipated WingRiders Launchpad (WRLP) successfully and securely went live on the 6th of September, marking a significant milestone in the Cardano ecosystem.
WRLP is a tool for both innovative projects seeking to launch on Cardano and users eager to discover new Cardano tokens. Its unique blend of pro-rata and first-come-first-served (FCFS) models, complemented by NFT tiers and commitment limits, ensures a fair and organized fundraising experience.
Projects can leverage WRLP’s multifaceted approach to engage early supporters while maintaining equitable token distribution, while token supporters can navigate the platform with confidence, knowing they have opportunities to participate and discover exciting new Cardano-based assets. WRLP can contribute to the Cardano ecosystem, fostering growth, innovation, and a vibrant community.
First WRLP token launch: Orcfax token
The FACT token launch went live, early supporters managed to contribute ADA and within a very short period, the max raise had been achieved.
Despite a few UI issues that surfaced and were resolved in minutes, the launch went well and 142 participants managed to secure FACT tokens. For a more detailed account and breakdown of all of this, read this;
Orcfax launch numbers
Here are some of the key numbers for the launch:
Total participants: In the absence of a set maximum fundraising limit, we would have had 604 participants contributing a total of 10M ADA.
Successful participants: Out of these, 142 participants (141 in full and 1 in part) secured an allocation at a raise of 4.5M ADA.
Notably, the distribution of contributions was well-balanced, with no dominance by large “whales.” The top five contributors accounted for 1,632M ADA, and the 6th to 15th largest commitments totaled 1,137M ADA, with most contributions occurring after UI was running smoothly.
We can conclude, the launch would have likely sold out 15–20 minutes earlier if the initial unforeseen issues had not occurred. What is for sure is that the number of participants was diverse, and the overwhelming majority accessed the launch via the UI, demonstrating genuine user engagement.
WingRiders reached out and was in touch with the Xerberus.io team. They are doing an investigation but so far the preliminary findings are supporting the above.
Orcfax token claiming
The claiming process for the WingRiders Launchpad went smoothly and efficiently. Following the end of the launch event, participants had the opportunity to claim their rewards in a step-by-step manner. The process began with the calculation and distribution of claim rights, where token allocations were calculated based on individual contributions. These claim rights were then split into individual eUTXOs, allowing participants to claim their rewards directly from their wallets when the feature was enabled.
While the claiming process involved several steps, including the setup of the liquidity pool and verification of claim rewards, the overall experience was well-organized and user-friendly. Participants were informed about the status of the process through various communication channels, such as Discord, Telegram, and Twitter, ensuring transparency and timely updates.
Once the claim rewards button was enabled, participants could easily claim their eligible token rewards by visiting the Launchpad’s website and connecting their wallets. The process included a verification step to ensure smooth and reliable claiming.
Overall, the WingRiders Launchpad’s claiming process was a success, providing participants with a straightforward and secure way to access their rewards and participate in the ecosystem.
All details on claiming can be found in this post:
Orcfax liquidity pool and farm opening
After a successful token claiming process, the WingRiders DEX liquidity pool opened as planned, and all participants and the whole market could take part. The experience was very smooth and the UI and DEX held up stable against the initial market rush.
Liquidity providers who provided liquidity and deposited their LP tokens to the ADA-FACT farm during Epoch 437, were eligible for rewards from Epoch 438, starting on the 22nd of September, 2023 at 21:45:00 UTC.
The pool currently has over 2 million in volume over the past 7 days of writing and has an APR of over 40%.
All details for the pool can be found here.
This marked the first time for WRLP where a project successfully went through the entire process, which led to significant demand for its tokens and strong participation in the liquidity pool and initial trading.
WRLP Orcfax conclusion
In conclusion, the first-ever WRLP token launch ended with the Orcfax project raising its max. contribution (4,500,000 ADA).
142 Participants got access to an exciting project when the launch went live. Each project using Launchpad will continue to create its own launch configurations, and as the tool is used more, the community will eventually see the utilization of the NFT tier limiters per wallet and conditions to get those NFTs from the project options to be used.
Launchpad is a powerful tool with many ways to configure and set up project launches.
As the tool is implemented and used more with coming launches, projects, and the market will be able to understand what setup can work for them, and use the information to improve future actions.
We appreciate your support as we continue to enhance processes for the benefit of our community.
The lessons learned from this launch will undoubtedly enhance the efficiency and UI of forthcoming launches, reaffirming Cardano’s position as a dynamic and thriving blockchain platform, to use for DeFi for all contributors and the next projects launching on the WinGriders Launchpad tool.
Visit the WingRiders Launchpad at app.wingriders.com/launchpad.
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