An insured, decentralized accelerator for the Cardano network designed to connect early stage innovators and projects with a community of donors.
CardStarter gives projects building on the Cardano network the ability to generate early support through IDOs run on the Ethereum blockchain. CardStarter also supports successful applicants with various developmental resources. Once developers have proved concept on Ethereum, and the project can be deployed through Plutus smart contracts, Cardstarter migrates the entire project, platform and community, from Ethereum to Cardano.
By staking CARDS tokens, on the Ethereum network, investors can achieve one of 9 tiers of access and guarantee themselves token allocation of the seed round, presales, and private sales of Cardano projects. Investor’s funds are insured against any negligence on the projects side of things through a pool of funds, an Insurance Treasury, directly contributed to by the projects that use the CardStarter accelerator.
The IDOs, Initial Decentralized Exchange Offerings, run through CardStarter give these projects access to funds they may find it harder to access elsewhere. Projects must apply to run an offering on CardStarter, and successful applicants not only get a chance at funding but they also get access to the Cards Accelerator Program, CAP, which provides the projects with developmental resources from firms partnered with CardStarter. These resources include: token engineering, security audits, Web3, and social media and branding support.
Potential investors might need to complete KYC before being able to stake tokens and invest in projects on CardStarter; however this requirement is decided on independently by each project’s leadership. Once fully registered investors can deposit and stake CARDS to obtain 1 of 9 levels of access to projects that are using the CardStarter accelerator to source funds. The more CARDS one stakes the larger the guaranteed allocation of tokens they will have access to.
After the sale is concluded all staked tokens are locked for seven days. If all the tokens were not sold in the initial sale then the remainder will be made available in a First Come First Serve, FCFS, sale where everyone who competed the KYC and everyone is given the same “‘tier” status; meaning that everyone is given the same maximum level on their token purchase.
With smart contracts yet to be deployed on Cardano these projects are launched on the Ethereum network to prove their concept and begin generating a community. Once the Cardano network and the project are ready CardStarter migrates the platform and the community from the Ethereum network to Cardano. Upon Cardano mainnet deployment investor’s ERC-20 vouchers are exchanged 1:1 for the Cardano Native Tokens of the project.