OnPulse— An Incubator and Onchain Sacrificer Launchpad for PulseChain
Sacrifices with no expectation of profits encourage innovation in new blockchain ecosystems but are prone to rug pulls. Vetted solutions are paramount in bridging the gap to fuel growth
A sacrifice of cryptocurrency tokens refers to the act of voluntarily transferring tokens to another address or entity, often as part of a community-driven initiative or project. The purpose of such a sacrifice can vary, but in most cases sacrifices are performed in support of an idea, mission, or objective with no expectation of profit for the token holder.
One example of a sacrifice with no expectation of profit is a “burn” event, where tokens are sent to an address with no known private key, effectively destroying them and reducing the total supply of the token. This can be done as a way to increase the scarcity of the token and potentially increase its usefulness, but some token holders may choose to participate in such events simply to support the community or project behind the token.
Another example is a donation of tokens to an individual, company, non-profit or charitable organization, where the goal is to support a cause or initiative rather than to generate profit. In some cases, the token may have no practical use or value outside of supporting the cause, but individuals may choose to sacrifice tokens as a way to show their support and contribute to a greater good. Great projects such as PulseChain and PulseX have achieved a high degree of success with their sacrifices.
Ultimately, the decision to sacrifice tokens with no expectation of profit is driven by each individual’s motivations and goals. Some may choose to do so as a way to support a community or project they believe in, while others may view it as a way to reduce their exposure to a particular token or asset.
Sacrifices are a great way to encourage continuous innovation, particularly in new and fast-growing blockchain ecosystems such as PulseChain. Unfortunately, bad actors tend to gravitate towards growing communities with ill-intentions and initiate rug-pulls against honest and hard-working community members.
A rug pull is a type of scam that occurs in the blockchain industry, particularly in decentralized finance (DeFi) and non-fungible token (NFT) projects. In a rug pull, the creators of a project present an idea to a community, then ultimately disappear with the funds received, leaving sacrificers with unfulfilled promises in the ideas for which they sacrificed their tokens.
The problem with rug pulls is that they undermine the trust and credibility of the blockchain industry. Blockchain technology is based on the principles of decentralization, transparency, and trustlessness. However, when rug pulls occur, they expose the vulnerabilities of blockchain-based projects and erode supporter confidence in offering future sacrifices in creative ideas that may have otherwise pushed the industry forward. Furthermore, rug pulls can have a significant financial impact on sacrificers who lose their tokens in the scam. As a result, rug pulls can deter sacrificers from further participation in the industry, which can slow down innovation and development.
To mitigate the risk of rug pulls, it is essential for sacrificers to conduct due diligence and research the projects they sacrifice in. Additionally, developers can implement measures such as audits, insurance, and community governance to increase the security and trustworthiness of their projects.
A Launchpad with a Purpose
OnPulse is a sacrifice and IDO launchpad platform that allows startups building on the PulseChain blockchain to launch their own token through a decentralized fundraising process called a sacrifice that eventually results in an initial DEX offering (IDO) on PulseX. Our launchpad provides a variety of services to help startups prepare for launch, including creating custom sacrifice pages, marketing, development, legal, and technical support. Extensive due diligence is performed on projects seeking funding, and approved projects are given access to create sacrifice pools that are then presented to potential sacrificers. Sacrificers who believe in the team, mission, vision, and values can then donate tokens using a predefined list of cryptocurrencies, such as PulseChain, HEX, or PulseX, for the duration of the sacrifice period.
The launchpad charges a small fee to maintain its services, which is either a percentage or a fixed fee of the total tokens sacrificed. In return, the launchpad provides various benefits to the startup, including access to a wider audience of potential sacrificers, a more streamlined fundraising process, and increased exposure for the project. A significant benefit for users to support launchpad-based projects is the increased scrutiny and due diligence performed, significantly reducing the likelihood of rug pulls.
With a long history of launching projects and providing in-real-life (IRL) incubation, the team behind OnPulse is well positioned to help grow the PulseChain ecosystem. Our incubation process consist of identifying PulseChain-based startups with high-growth potential and providing support and resources to help them develop and grow their businesses. Support and resources consist of a variety of services, including mentorship, technical support, access to funding, and networking opportunities. Our parent company, Starter Labs, also offer coworking spaces, access to specialized equipment, and other IRL resources that can help these startups develop their products and services more quickly.
A Must-Have for L1 Blockchains
As new-comers in an ever-increasing and crowded space, where ecosystems are constantly vying for developer attention in the form of grants, incubation and other creative initiatives, new layer 1 blockchains often require decentralized launchpads for several reasons:
Accessibility: Decentralized launchpads allow projects to be accessible to a broader audience. They enable anyone, regardless of location or status, to participate in the launch of new blockchain projects without bias.
Transparency: Launchpads provide transparency by allowing the community to view projects with a 360-degree view. It ensures that the project is genuine and not a scam, and that the team is competent.
Security: Decentralized launchpads provide security to both the projects and sacrificers. It ensures that sacrificers’ funds are secure, and the project is not subject to any malicious attacks.
Liquidity: Launchpads allow for easy and efficient integration with DEXes such as PulseX, enabling instant trading of newly launched tokens, ensuring that sacrificers can easily exchange their tokens without having to deal with complex procedures.
Community Engagement: Decentralized launchpads enable the community to be involved in the launch of new projects, allowing them to have a say in the direction of the project.
Utility: By vetting, incubating, and launching products and services on PulseChain, a launchpad can help increase real-world utility by providing chain users with games and other useful tools.
Overall, decentralized launchpads are essential for new blockchain ecosystems as they provide accessibility, transparency, security, liquidity, utility, and community involvement. They allow projects to launch in a fair and decentralized manner, enabling anyone to participate in the launch process while delivering real-world applications for chain users.
How it Works
Unlike many “launchpads” in the industry, OnPulse is a fully decentralized platform designed using Solidity in the backend and ReactJS/Node for the front-end and APIs that operates entirely on-chain.
OnPulse for Developers
There are two types of projects supported by OnPulse: Certified or Community. Certified projects are those endorsed and vetted by the OnPulse team, while Community are those endorsed by the community.
Developers utilize OnPulse to create Community projects by first acquiring OPLS tokens to stake in the platform. Staking is a form of commitment to the community, guaranteeing that the developers are serious about pursuing the initiative for which they are seeking sacrifices to be made. Once staked, developers are given unfettered access to OnPulse and can begin by creating a Community Sacrifice Pool for their project. A Sacrifice Pool is an on-chain representation of a project, storing information including project name, description, whitepaper, tokenomics and other pertinent information. Developers are required to deposit the full number of project tokens available for sacrifice into the resulting smart contract created for their specific Sacrifice Pool. Note that Certified pools are vetted by OnPulse and, as a result, can only be created by the OnPulse team.
OnPulse for Sacrificers
When a Community Sacrifice Pool is created, it will appear in the user interface for sacrificers to DYOR and decide whether or not it is a project they are willing to make a sacrifice for. For the duration of the sacrifice period, users may decide to join the project by sending one or more of the supported tokens to the Sacrifice Pool Fund. Tokens sent to the Sacrifice Pool Fund are entirely controlled by OnPulse smart contracts and are not provided to the developers until the Minimum Sacrifice has been met and the Sacrifice Period has ended. Sacrificers are required to vote on whether or not a Community Sacrifice Pool should move on to the funding stage based on their own individual research, while Certified Sacrifice Pools are automatically approved by the OnPulse team.
Once a Sacrifice Period is over, tokens sacrificed during the period are made available for withdrawal to developers based on a predefined vesting schedule. Equally, project tokens deposited into the Sacrifice Pool’s smart contract are made available for claiming by sacrificers and according to any vesting schedules. In the event that the developers do not meet the performance requirements, any vesting for sacrificed tokens and future vesting for project tokens for sacrificers will be placed on hold until the community agrees to resume them.
In order to sacrifice your tokens for projects in OnPulse, you must stake OPLS to qualify for a certain tier. Your Voting Power for approving or denying Community projects is also based on the amount of OPLS you have staked. The 4 Sacrificer Tiers are as follows:
Diamond — the highest staking tier, Diamond sacrificers stake the most OPLS and receive first dibs (first chance to sacrifice) on projects.
Platinum — Platinum sacrificers stake OPLS to receive second-in-line chances at sacrificing on projects.
Gold — Gold sacrificers stake OPLS to receive an opportunity to sacrifice on projects following Diamond and Platinum stakers.
Non Stakers — Sacrificers who are not staking but would like to participate in some of the exciting projects in OnPulse may sacrifice their tokens after Diamond, Platinum and Gold tier sacrificers have finished.
OPLS is a deflationary token that burns according to certain activity performed. Unstaking OPLS incurs a burning fee of anywhere between 0.5% — 2% of the unstaked amount, depending on how long the original deposits were staked.
Through our partners, we will complete at least 2–3 different security audits of OnPulse prior to going live in order to increase security and reduce the likelihood of bugs or vulnerabilities within the platform.
The tokenomics for OnPulse were designed to enable developer engagement, community support, and strategic growth for the product. Its allocation is as shown in the table below. Tokenomics are simply a means of allocating points in OnPulse that have no value. Sacrifices are sent for points as a political statement with no expectation of profit.
The Alpha Sacrifice period is the duration leading up to the PulseChain mainnet launch, where sacrificers receive a Bonus Multiplier of 20x by sacrificing during the early stage development of OnPulse on PulseChain testnet. During the Alpha Sacrifice, there is a 1.2x Volume Bonus for sacrifices greater than $20,000 USD.
The Beta Sacrifice period is the duration between PulseChain mainnet launch and the OnPulse IDO Sacrifice, whereby sacrificers receive a Bonus Multiplier of 10x by sacrificing after the public beta launch of OnPluse on PulseChain mainnet.
The IDO Sacrifice period is the duration in which sacrificers receive points on a 1.5x ratio by sacrificing during the initial DEX offering of OPLS on PulseX.
A portion of OPLS is also reserved for the following use cases:
- Points for matching present and future liquidity for IDO sacrifice on PulseX
- Points reserved to foster strategic partnerships and further grow incubating and launching projects on PulseChain
- Points reserved for giveaways and other promotional initiatives deemed necessary to scale OnPulse community
- Points reserved for continuous building and incentivization of long-term dev roadmap
- Sacrifice points for community development, including burn campaigns, airdrops for prior sacrificers, and long term staking rewards
About Starter Labs and Starter International
Starter Labs (https://starterlabs.xyz) is a US-based company specializing in the research and development for blockchain-based products. Our sister company, Starter International, Ltd. (https://starter.xyz) is a BVI-based company specializing in token-based project launches. We launched our first IDO and vesting products in February 2021 as a decentralized launchpad initially for Binance Smart Chain, followed by Polygon, Fantom, Avalanche, and Ethereum, eventually growing to 18 full-time staff and becoming the #1 launchpad in the blockchain industry by Q4'2021 based on ROI, according to a CryptoRank report.
In Q3'2021, we embarked on a mission to make blockchain gaming fun, creating a unique Tamagotchi-style product called Starchi. Still in development after an alpha release, Starchi aims to be a fun and engaging system for blockchain gaming over the coming years. A video demo and high level guide on Starchi can be seen in the links below.
With a long-term goal of increasing practical utility and value for PulseChain, our plan is to bring Starchi and other exciting products to the PLS ecosystem.
In addition to our in-house game development experience, our team has developed an NFT Launchpad called OpenStarter to minimize whitelist-hustling and encourage fairer NFT drops. OpenStarter has been temporarily placed on the shelf as the NFT market has seen increased marketplace competition and a significant decline.
Our long list of successes were not without their fair share of challenges. In March of 2022, we suffered a hack in our revamped staking contracts by an ex- team member. While we are not at liberty to provide any further details publicly into the progress of this incident, we are extremely satisfied with how things are going and can’t wait to share more in the near future.
Our latest project initiated in Feb, 2022 is a physical building in the heart of Atlanta, Georgia, USA. Atlanta is home to the #1 most busiest airport in the world (ATL-Hartsfield); the #4 top engineering school in the USA (Georgia Tech); 70% of the world’s financial payment transactions; the civil rights movement; and leading artists and blockbuster movies created over the last decade. Crypto pioneers such as Jeff Garzik (who worked with Satoshi on Bitcoin Core); Craig Sellars (co founder of Tether); and others are from the Atlanta area.
Called Atlanta Blockchain Center, we operate the first and only blockchain-focused coworking space, incubator, and events center in the fintech payments capital of the United States (Atlanta, GA). Every Thursday, we host in-person events with leading industry speakers to help educate our members and offer networking and community building opportunities. Some of our past speakers include BitBoy Crypto, Jeff Garzik, CleanSpark, Coinbase Ventures, Binance US, the FBI, Salesforce, Mastercard and many others. We also operate an incubator and college scholars program that have been quite successful.
With a knack for identifying ecosystems with great potential, we look forward to combining our decades of technical and entrepreneurial experience with our extensive network to aid in the growth of the PulseChain ecosystem. Follow us to find amazing sacrifices that will help make PulseChain an exciting chain to find amazing games, productivity tools, financial services, and more!
Connect With Us