MALAGA, SPAIN / ACCESSWIRE / May 19, 2021 / Passive income is excited to inform the crypto community that it will release its own decentralized launchpad - PSIPAD - in the days ahead. The launchpad will serve as a secure, transparent, and user-friendly environment where legitimate startups come to launch their token and raise funds for the development of their projects.

To understand how useful PSIPAD will be, it's important to know the advantage that a decentralized launchpad has over its centralized counterpart.

The first advantage of course is fairness and transparency. With centralized launchpads, the whole process of vetting and managing a crowd sale is carried out by a centralized entity. As such it's very easy to manipulate the process in favor of some parties to the detriment of others. With decentralized launchpads, however, there is no need to trust a single entity as everything is done with the help of self-executing contracts. These smart contracts simply execute exactly as they were programmed without interference and therefore produce more trustworthy results.

Another advantage that decentralized launchpads have over centralized ones is the non-mandatory use of KYC. In most cases, KYC has proven to be an obstacle to some people for participating in presales, especially those in developing nations. To expatiate, people from less developed parts of the world often find it hard to possess all the necessary credentials that are required in a typical KYC process. This is often due to the fact that they live far away from city centers where public or government services are rare.

Other times these people just find it difficult to comply with all the sophisticated and bureaucratic processes for obtaining the identification documents they need, which further excludes them from financial services. So having a crowd sale event where KYC isn't mandatory is a big win for such people.

What will make PSIPAD unique?

The Passive income launchpad intends to establish itself as one of the most trustworthy decentralized crowdfunding platforms. To achieve this, they will differentiate all projects that have audited their smart contracts and those that haven't so that investors should be aware of the magnitude risk associated with every project. Not only that, but they will also indicate projects where the team was KYCed before participating in their presale.

To offer even more value, the Passive income launchpad will implement a trust score in the future to prevent unsuspecting defi users to fall victim to the numerous scams or rug pulls.

The current PSIPAD is developed on the Binance smart chain. But as time goes by, other iterations of the protocol will be developed on ethereum and possibly other interoperable blockchain platforms.

It should be noted that many presales that have taken place on current decentralized launchpads ended up failing. Sometimes the failure results from the poor user experience. With PSIPAD however, the story will be completely different as they will keep everything simple and intuitive so that it'll appeal even to non-tech-savvy individuals.

Closing thoughts

The Passive income launchpad (PSIPAD) seeks to establish a unique decentralized Launchpad with an intuitive and user-friendly interface. This will make it quicker and easier for defi startups to raise money from investors around the world. And to make sure that investors know what they're investing in, PSIPAD will make a clear indication of projects that have been audited and those that haven't. Also, projects, where the team has been KYCed, will be differentiated from those that do not.

Furthermore, placing a trust score on each project will help potential investors to have a general idea regarding the trustworthiness of the project they want to invest in. Not only will this save time that would otherwise be used to research the reliability of projects, but it'll also encourage more people to take part in crowd sales.

PSIPAD will be going live immediately after external testing and auditing is complete. If the results are satisfactory, a preview of the presale platform will be published on YouTube so that people can start to familiarize themselves with its features and how to use it

Media Contact:

Company: Passive Income
Contact: Bjorn Mattens, CEO
E-mail: bjorn@passive-income.io
Website: https://www.passive-income.io/
CEO Twitter: https://twitter.com/lucky_daltons

SOURCE: Passive Income