Trustlaun.ch: How to Participate in IDOs
The team here at CryptoCurrent has come from humble beginnings, an elevator repairman, a food service worker, a student, and… Steve. We saw the problem with Defi’s security and risk for average investors and we have made it safer with our revolutionary Vault (VLT) contract. This was a MASSIVE step forward, but it wasn’t enough. The problems with launches still exist. Investors can never be sure that their funds are 100% safe because they are at the whim of the project leads and developers. Unlike most Defi projects, we are committed to continuing to build our community and offer value to holders.
Trustlaun.ch is now live and it has already launched 2 projects successfully. Holders of 50 VLT or more will be allowed to enter into all IDO sales that are hosted on the platform 30 minutes early! This allows VLT holders to be first in line and get the best prices on some of the hottest new projects in Defi.
So how does it all work? First, our team consults with projects and we evaluate them on a number of metrics:
- Will the team KYC (reveal detailed personal information to the team)?
- Do they have a working product/contract?
- Is the team committed to supporting the project through marketing and further development?
- Will the team allow Trustlaun.ch to hold funds on their behalf? Does the project have utility?
- Is the idea sound?
As long as these criteria are met and all is well, CryptoCurrent will offer Trustlaun.ch’s launchpad to the project. We offer AMA services and access to some of the biggest crypto promoters in the space. The project will then be featured on the Trustlaun.ch website and the sale will be scheduled.
At that point, a timer will be initiated that will count down to the time of the sale. Once the timer reaches 30 minutes, there will be a button to verify your wallet holds at least 50 VLT. Once the wallet is verified, early access will be granted to VLT holders. It goes without saying that 30 minutes is an eternity in crypto and sometimes that short amount of time can make the difference between profit and loss.
CryptoCurrent offers services for a safe launch and presale to both BSC and ETH projects. We understand the importance of diversification and we are always ready for the next big thing. We also offer our Vault contract to projects that would like to use it for their tokens.
The Vault is essentially a store of funds (BNB, ETH, etc) that exists OUTSIDE of the normal liquidity pool. A percentage of funds from transactions goes into the Vault. Each token that is backed by Vault funds has an equal value based on the total supply.
1000 BNB in the Vault / 10,000 total tokens = .1 BNB per token
The contract operates through a one-sided swap function in which BNB can be sent to the Vault, but tokens cannot. This means that as the price floor increases if the liquidity price ever drops below the Vault price, users can burn their tokens into the Vault and recover funds. This protects a portion of every holder’s investment and makes the Vault contract “Unruggable”.
While KYC, Vaults, and solid projects all go a long way towards creating safe launches, there is always the possibility of dishonest actors finding a loophole. This is why the CryptoCurrent team INSISTS upon retaining assets of raised funds until liquidity is added. This principle is VITAL to protecting investors in CryptoCurrent products so their funds can be returned in the event of a scammer releasing a duplicate token, interfering with a sale, or looking to deceive investors.
Dexfolio Sale
Recently, action was taken by the CryptoCurrent team in response to some malfeasance during the Dexfolio sale. Many community members were present for the AMA in the CryptoCurrent telegram with the lead for the Dexfolio project.
At one point the CryptoCurrent team was informed that there was a new Dev team that had been hired to replace the old devs of the Dexfolio project who had been KYC’d by Marc and the team. Everything was set up for a public sale and listing on 3/16 with terms agreed upon by both parties. A goal was set for $200,000 in raised funds with $160,000 for liquidity with $40,000 for the Development with an individual hard cap of $1000 per investor.
In the first hour and a half, $100,000 dollars were raised for the sale. In conversations with the team, an individual from the Dexfolio team asked to have the cap increased from $1000 to $3000 per investor in the middle of the sale. CryptoCurrent informed them that this was not possible as the terms were agreed upon and announced far in advance.
Inexplicably, the Dexfolio team was not happy with the number of funds that were raised and was calling to end the sale and launch a 2nd IDO on a different launchpad a few days later. A recommendation was made by the CryptoCurrent team for a relocation of funds with $60,000 put into liquidity and the development team could still take $40,000 as payment. Dexfolio refused this offer. At this point, it was very apparent that this tenuous situation could become dangerous to our community of CryptoCurrent investors.
We are not accusing members of Dexfolio of being scammers and we are not trying to tarnish their reputation, there were simply too many red flags for us to continue to offer our services to them. With an anonymous dev team being switched last minute, the existence of a “freeze” function in the token contract that could make users unable to transfer or sell tokens, and the apparent desperation from an individual to raise more funds, the CryptoCurrent team decided that the situation was too risky to continue the sale. The decision was made to return funds to all investors and collected funds were IMMEDIATELY refunded to all public sale buyers.
CryptoCurrent does not take the trust that our community puts in our team and our platform for granted. We set out with an ambitious goal; to rid Defi of scams and make it safer and more profitable for all. We are fighting an uphill battle, especially on BSC, with even PancakeSwap itself falling victim to phishing scams.
We will never be able to catch all scammers and save all investors, but we are LASER focused on keeping investors in CryptoCurrent’s products safe from those that seek to harm and destroy through deception and wrongdoing. If we ever feel as though a situation could be potentially unsafe for investors, we will not hesitate to pull the plug and return all funds directly to the buyer’s wallets. While this can sometimes be irregular and inconvenient, we still feel that a 0% gain is FAR better than a 100% loss. We hope you all understand.
Our values are clear and unwavering: Make Defi a safer and friendlier place for all! We will always make decisions based on what is best for VLT and HTG holders as well as members of our community. We have some BIG announcements coming up for HTG and VLT holders, so make sure to follow us on Twitter and join our Telegram!
CryptoCurrent: https://www.thecurrent.io/
Twitter: https://twitter.com/hedge_tech
Telegram: https://t.co/TUQ8tyNAda?amp=1
