Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
The Worthpad ecosystem is building out its platform to serve as a one-stop shop for all things DeFi.
Blockchain technology and its attendant innovations are making life better for everyone today. From Bitcoin (BTC) to decentralized finance (DeFi), and Non-Fungible Token (NFT), the rate at which the innovation in the blockchain world is being unveiled is mindblowing, leaving early adopters in a better position to benefit in the long run.
While these innovations should be applauded, many come with models or operational modalities that can stump the plans for mainstream adoption. Besides the inherent fundamental issues which most blockchain networks face, the challenge of switching from one platform to another in search of unique product offerings is always going to impact general acceptability. However, the Worthpad ecosystem and its wide array of products and services all accessible on one platform are billed to change this narrative in a huge way.
Here is a look into the Worthpad Ecosystem.
Worthpad and Its 6-Faced Product Niches
Worthpad is a decentralized accelerator and incubation platform that connects early-stage innovators and projects with the platform’s native investors. The platform is powered by a multi-blockchain network including Ethereum, Polkadot, and the Binance Smart Chain networks respectively.
Worthpad has six core components including; The WORTH Token, the Worth DVC Fund, the Worth IDO Launchpad, Worth Smart Contract Foundry, Worth DEX, and finally the Worth Insurance Treasury.
- The WORTH Token: The WORTH Token is at the forefront of the Worthpad ecosystem, finding relevance in powering the liquidity pool of the ecosystem’s decentralized exchange. The WORTH token is also a channel for holders to access additional benefits including the platform’s staking benefits, as well as in securing a guaranteed allocation in the platform’s Initial Decentralized Offering (IDO) launchpad. WORTH tokens are the primary utility asset of the platform, whose use cases are billed to expand in the near future.
- Worth DVC Fund: The Worth DVC Fund is like a pooled fund wherein holders of WORTH Tokens can safely invest and earn rewards accordingly. The Worth DVC Funds targets innovative startups in the blockchain world while giving financial equity to everyone to participate for a chance to be part of a new unicorn. The capital for the Wealth DVC Funds comes from 5% of charges it collects from transactions carried out on the platform. If there’s capital scarcity from the collected charges, the liquidity is drawn from the funds collected from IDO projects.
- Worth IDO Launchpad: The Worth IDO launchpad is where new projects are incubated and nurtured. The Worth IDO Launchpad serves as a backbone for new projects, helping them to raise capital while also helping to monitor their marketing strategies and growth. The launchpad offers professional guidance, collaborations, marketing expertise, and even technical assistance to ensure these projects succeed. While the IDO launchpad beats the competition in terms of new project handling, it raises funds by earning tokens or sweat equity from the accelerated projects it has funded.
- Worth Smart Contract Foundry: The smart contract foundry is the open-source codebase of the Worthpad ecosystem. Through the foundry, developers can build powerful smart contracts without a deep knowledge of coding. The essence is to lower the barrier of entry to token creations. The smart contract foundry audited and secured from undue exploitations by hackers.
- Worth DEX: The Worth decentralized exchange will form an indispensable part of the Worthpad ecosystem. Exhibiting the core tenets of decentralization, the Worth DEX offers users the ability to conduct transactions in two major ways; through an off-chain order book for high-frequency traders, and via an AMM aggregator to ensure the best prices for everyone who participates on the platform.
- Worth Insurance Treasury: This treasury is the safety net for investors and users of the Worthpad ecosystem. New projects with plans to raise funds through the Worthpad IDO are required to deposit a certain amount of WORTH tokens. Should there be a rug pull or fraud before the project delivers on its promises, the deposited fund serves as a premium paid out to investors. The deposited funds are returned to the project developers once the project is completed by a predefined yardstick.
The Next Generation of All Things DeFi
The Worthpad ecosystem is building out its platform to serve as a one-stop shop for all things DeFi. Trailing a well-thought-out roadmap, as well as key integrations by major players in the DeFi world, the Worthpad Platform is on track to be the next generation of a decentralized finance service provider.