The first Launchpad project in the TON ecosystem, analyzing the TonUP participation mechanism and token economy.

23-12-22 18:30
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Content Directory:
· TON's first Launchpad in the ecosystem, analyzing the TonUP participation mechanism
· Detailed explanation of $UP token economics
· Multiple IDO projects take off, with the highest financing exceeding 100 million US dollars

Since the launch of TonUP, the first Launchpad in the TON ecosystem, in August of this year, this IDO platform backed by the Telegram team and favored by venture capital institutions such as Waterdrop Capital has attracted attention from the community. With the recent popularity of "golden shovels," TonUP has further attracted more attention from the community after launching its official token $UP on Bitget.

This article will provide a detailed analysis of the TonUP ecosystem participation mechanism that has attracted tens of thousands of people to join the IDO, as well as the token economics of its first token, $UP.

TON's first Launchpad in the ecosystem, decoding the TonUP participation mechanism

TonUP is the first Launchpad of the TON public chain. Its creation is to solve the funding gap of TON and provide an environment to support the development of the ecosystem, in order to accelerate the construction of new projects. TON also provides significant advantages for TonUP. TON is a high-performance proof-of-stake (PoS) public chain, first proposed by the Telegram team.

On the technical side, TON uses the underlying FunC programming language and progressive sharding technology. In terms of the ecosystem, according to the third quarter ecosystem report released by the TON Foundation, the number of TON accounts has grown to over 3.5 million, with nearly 815,000 active wallets on the chain and 344 validators distributed across 24 countries. The staked amount is close to 500 million TON.

In August of this year, TonUP launched its first IDO project, Tap Fantasy. Users can participate in the IDO by staking $TON on TonUP and receive Tap Fantasy's native token, $MC. In less than half an hour, Tap Fantasy raised $100,000 in startup capital through IDO, and a total of nearly 80,000 $TON (approximately $180,800) was raised.

Although TonUP is an IDO platform, it also hopes to gain more traffic and funding. Therefore, TonUP has also issued its own token $UP and has chosen Bitget as the first platform to raise funds for its token.

Currently, ordinary users who want to participate in the TonUP project and ecosystem can achieve this by applying for or exchanging their official token $UP.

First of all, similar to Tap Fantasy, users can participate through IDO on TonUP. TonUP was launched on Bitget last week, and users can obtain $UP by pledging Bitget's native token BGB on the Bitget platform. It is reported that within one hour of the investment channel opening, the number of people participating in the project exceeded 6,700, with a total investment of over 17 million BGB (approximately 11.05 million US dollars); within 20 hours, the total amount of user investment exceeded 39 million BGB (approximately 25.35 million US dollars), with over 12,000 participants.

Secondly, users can also obtain $UP through application. On December 22nd, TonUP officials announced that the UP tokens for users participating in the IDO are now available for application. It is reported that only users on the whitelist can apply, with a total of 200,000 UP tokens available at a price of 1 $UP = 0.05 $TON. Currently, the investment channel has been closed and users' BGB will be locked and waiting for distribution. After the investment phase is over, the system will calculate the Launchpad token distribution for each user.

Additionally, after these two stages, the $UP token will be available for trading, and regular users can purchase $UP directly on the exchange.

In addition to providing IDO services, TonUP has introduced a new concept - Community Protection Plan (CPP) to safeguard the interests of IDO community members. CPP consists of two key parts: Liquidity Supervision Plan and Price Protection Plan. Projects participating in the Liquidity Supervision Plan will invest a large portion of their raised funds into DEX to form a liquidity pool, which will be jointly supervised by TonUP through multi-signature. This ensures the quality of the project and protects the community when the project goes online.

The price protection plan sets a minimum price protection, providing a secure network for token prices within a specified time after the project is launched. In addition, TonUP also regulates a portion of the fundraising amount within the plan, providing an extra layer of protection for investors.

It is reported that TonUP is designed for different audiences in the cryptocurrency field. For project developers, TonUP provides a secure and supportive launch platform, as well as marketing services and community building plans. Established and new projects can both utilize TonUP's expertise to enhance their visibility, reputation, and community engagement.

Explanation of $UP Token Economics

On December 14th, TonUP announced the token economics of $UP. The total supply of $UP is 100 million, including:

For IDO, the $UP accounts for 1%, and for IEO, the $UP accounts for 1.5%.

20% of $UP is used for strategic/private placement rounds;

30% of the $UP will be invested in decentralized autonomous organization (DAO) governance framework to mitigate the centralization risk in project governance caused by decentralization.

For the ecosystem, $UP accounts for 4% of the proportion, making it easier to further expand market share;

For team, the $UP ratio is 10%, and for consultants, the $UP ratio is 3%.

15% of $UP is used to incentivize the community and encourage users to actively participate in the development of TonUP;

For liquidity, $UP accounts for 5% of the total, aiming to address the current liquidity shortage in the TON ecosystem and promote asset circulation.

10.5% of $UP is used for perpetual development and market promotion.

According to this token economic model, 2.5% of the total supply will be distributed through IDO and centralized exchanges. This time, 2.5 million tokens (total circulation of 100 million) will be publicly sold. As 1 $UP = 0.05 $TON, if calculated based on the current exchange rate of 1 $TON = 2.26 USD, the total market value of $UP will exceed 10 million USD.

In addition, up to 64.5% of the tokens will be directly invested in the development and construction of TonUP. Furthermore, financing from strategic and private rounds usually have multi-year unlocking periods (TonUP team has reserved 10.5% of the tokens for market promotion), resulting in a much smaller actual circulation of $UP and relatively less selling pressure on the future token price.

TonUP announced on August 15th that it has received a six-figure investment from TONcoin.Fund, as well as the favor of a group of investors including The Block, Foresight Venture, Waterdrip Capital, BitFund DAO, etc. Here is the source.

According to the official website, TonUP will launch its mainnet and IDO project in 2023, followed by the launch of funding projects, LBP, mining projects, and the implementation of DAO governance in 2024 after the launch of $UP.

"Golden Shovel" project takes off, with financing reaching up to $100 million

On November 12th, Bounce Brand announced the completion of the Launchpad for the bridging protocol MultiBit (MUBI). They raised 88 ETH during this period and saw returns of over 80x.

On November 29th, Bounce Brand launched the public sale of Bitstable project token BSSB, a cross-chain DeFi protocol based on Bitcoin. On December 4th, BSSB broke through $1.6, with a 24-hour increase of 89.58%, reaching a new historical high.

On December 19th, AMM NFT trading platform BakerySwap also conducted its first Launchpad for Bitcoin Cats' IDO. After the Launchpad lasted for two hours, there were 37,383 ETH and 73 million BAKE tokens participating, with a total value of 106 million US dollars. The oversubscription rate was 150 times.

With the dual support of the flourishing "Golden Shovel" industry and Telegram's narrative empowerment, TonUP and its token $UP may usher in even greater development.

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