Deepika- Eonstarter is an IDO launchpad for BRC-20 tokens that is set to launch on July 15, 2023.
- An IDO launchpad is an effective tool for token sales and fundraising for various crypto projects.
- BRC-20 tokens are based on Bitcoin Ordinals and are a way to strengthen the BTC community.
Eonstarter is a new-generation token launchpad designed for Bitcoin-based BRC-20 cryptocurrencies. It aims to unlock the Bitcoin community’s full potential by introducing the BRC-20 cryptocurrency tokens to retail investors. With this launchpad, Bitcoiners with the most basic background in crypto can purchase BRC-20 tokens securely and very seamlessly.
Eonstarter Introduces a ‘DAO Maker’ for Bitcoin-based BRC-20 Tokens
Eonstarter, a pioneering BRC-20 token launchpad, made an official announcement, via Twitter, about its presale funding round that is soon about to kick off. Bitcoin users can purchase EONS tokens, which will serve as the backbone element of the new service’s tokenomic design, governance and revenue model. https://twitter.com/eonstarter/status/1675925699410927620
Technically, BRC-20 tokens are versions of Bitcoin Ordinals, a class of ‘inscriptions’ designed to store data within the Bitcoin blockchain. Since the BTC network does not support smart contracts by default, it fails to onboard mainstream token standards such as ERC-20 and ERC-721.
Bitcoin Ordinals were developed to store some specified data within each Satoshi on a block, about the transaction details. These spaces can be used to incorporate token standards and other data, enabling the secure representation of assets other than BTC. They can thereby serve the purpose of smart contracts without actually creating one, albeit to a limited extent.
Before Ordinals, programmable tokens only existed on blockchains compatible with Ethereum Virtual Machine, such as Ethereum, Polygon, Arbitrum, Optimism, and a few others.
Many of these tokens were introduced on Initial Decentralized Exchange Offering (IDO) launchpads, which are on-chain fundraising services for early-stage projects. IDO became a popular means for token sales during the 2020-2021 bull run mainly due to two reasons, it eliminates the requirement for third-party custody and makes it harder for whales and the project teams to make manipulations.
It reduces the scope for malicious activity by fundraisers, investors and other parties during the process of raising capital. Therefore, it enables a trustless system for secure early-stage funding, to establish a decentralized ecosystem.
To ensure fair and inclusive participation for all token sale applicants, Eonstarter employs several cutting-edge features. These include bot protection tools, an automatic whitelisting module, automatic token distribution to the participating addresses etc.
This opens the door for investors interested in leveraging Bitcoin-based tokens. This also serves as a great boost to the Bitcoin community, onboards new users, and increases market activity benefiting the overall liquidity.
Bitcoin (BTC) Ecosystem Cryptocurrencies on Fire
As previously covered by U.Today, the mania of Bitcoin-based assets gained steam in Q1, 2023. Developers started creating Bitcoin Ordinals by adding information to the transactions of Bitcoin (BTC), in diverse formats. These include .jpg images to JSON format messages, enlisting metadata etc.
CARD: https://u.today/heres-what-makes-bitcoin-btc-nfts-ordinals-different
This marked yet another attempt to add programmability functions to the blockchain of the world’s largest cryptocurrency and the most secure one in terms of aggregated hash rate.
Fungible BRC-20 cryptocurrencies are a class of tokens that represent a spin-off from the Bitcoin Ordinals idea. Just like with ERC-20, they remove the need to “reinvent” the procedure of minting fungible tokens, making it streamlined and standardized.
According to CoinGecko, a leading independent cryptocurrency data aggregator, the market cap of Bitcoin-based BRC-20 tokens exceeded $242 Million. Consequently, the number of centralized services listing BRC-20 tokens is rising, which is going to increase accessibility and attract more investors.
EONS Presale Kicks Off, Whitelisting Campaign Still Running
Here’s why Eonstarter, the first IDO platform for BRC-20 tokens, is a major milestone for the Web3 ecosystem as a whole, and its Bitcoin segment in particular.
Eonstarter raised $100,000 in a seed funding round for the development of the protocol. Moving ahead with the next phase of their roadmap, they have launched a presale whitelist campaign for the EONS tokens. The presale whitelist ends on July 15, 2023, and the presale starts on July 16, 2023, at 7:00 p.m. UTC. The tokens will be sold as per the ‘first come-first served’ policy.
Besides being a native utility token for the Eonstarter ecosystem, EONS can be staked to secure the network and earn staking rewards.
Eonstarter IDO Launchpad Kicks Off: A DAO Maker for BRC-20 Tokens
