L2PAD: Layer 2 Decentralized IDO Launch Platform
The L2PAD whitepaper was released by the core project team at the end of 2021, aiming to address the need for a decentralized, fair, and scalable fundraising platform in the Ethereum Layer 2 ecosystem.
The theme of the L2PAD whitepaper centers on its core positioning as an "Ethereum Layer 2 launch platform." L2PAD’s uniqueness lies in its proposal of a "smart contract + Turing-complete virtual machine (EVM) + Gas metering" universal execution environment, enabling the blockchain to not only transfer assets but also automatically run arbitrary logic; L2PAD’s uniqueness is as a decentralized platform built on Optimism and Arbitrum, introducing the quadratic funding mechanism to achieve variable pool settings, diversified fund allocation, and automated secondary market creation. The significance of L2PAD is that it provides a low-cost, high-efficiency launch platform for Layer 2 projects, and through its AlphaPool and DAO governance model, promotes community-driven innovation and value distribution.
L2PAD’s original intention is to create an open, neutral "world computer." L2PAD’s original intention is to build a decentralized, self-organizing public goods ecosystem and solve the pain points of traditional fundraising models. The core viewpoint expressed in the L2PAD whitepaper is: by providing a programmable decentralized fundraising platform on Layer 2 networks, combined with innovative mechanisms such as quadratic funding, L2PAD can strike a balance between decentralization, scalability, and fairness, thereby achieving win-win incubation and growth for both projects and the community.
L2PAD whitepaper summary
What is L2PAD
L2PAD can be understood as a platform in the blockchain world that helps new projects "incubate" and "launch." Imagine a promising startup looking to raise funds—it needs a place to showcase itself and attract investors. L2PAD plays this role in the blockchain space: it’s a decentralized platform, mainly operating on two "highways" of Ethereum, namely Optimism and Arbitrum.
Simply put, L2PAD’s goal is to make it easier for new blockchain projects to obtain funding and help them issue their own tokens (which can be thought of as company shares or points). It places special emphasis on a model called "Quadratic Funding," which is a fairer way to raise funds, aiming to ensure that more community members’ voices are heard, rather than decisions being made solely by a few large investors.
Decentralized Platform: Like a website or system without a central administrator, all rules are written in code and maintained and decided by the community.
Optimism and Arbitrum: Both are "Layer 2 solutions" for Ethereum, which can be understood as faster "highways" built outside the Ethereum main chain, enabling faster transactions and lower fees.
Project Vision and Value Proposition
The core problem L2PAD hopes to solve is that in the blockchain space, many promising new projects may struggle to launch or grow due to a lack of effective funding channels. It provides a platform for these projects to create funding pools and attract community members to participate in investment.
One of its unique features is support for multiple funding models, including linear and quadratic funding. Especially quadratic funding, which encourages more small donations, allowing the collective will of the community to play a greater role in fund allocation. In addition, L2PAD plans to automatically create secondary markets for newly issued tokens, meaning that once project tokens are issued, they can be traded more easily.
Quadratic Funding: A public goods funding mechanism that amplifies the impact of small donations, better reflecting the willingness of more participants, rather than simply favoring those who donate the most.
Technical Features
Based on available information, L2PAD is designed as a fully decentralized platform. It will develop a software development kit (SDK) to enable front-end applications to also achieve decentralization. Its core includes an API, making it easy for developers to use L2PAD’s smart contracts to build decentralized applications (dApps).
Smart Contracts: Code stored on the blockchain that automatically executes when preset conditions are met, like a self-enforcing digital contract.
dApps (Decentralized Applications): Applications running on the blockchain, not controlled by any single entity.
Tokenomics
The L2PAD project has its own native token, also called L2PAD.
- Token Symbol: L2PAD
- Issuing Chain: Mainly on the Optimism and Arbitrum ecosystems.
- Total Supply: A total of 100 million L2PAD tokens issued.
- Token Type: It is a utility token, typically used for various functions and incentives within the platform.
- Initial Price: During its public sale (IDO) phase, the initial price of 1 L2PAD token was $0.8.
- Token Utility: Although specific details have not been fully disclosed, as a launch platform, L2PAD tokens are likely used for platform governance, paying platform fees, participating in project funding pools, etc. The platform charges a fee for creating funding pools, which will be used to support L2PAD’s AlphaPool, allowing the L2PAD community to automatically access projects launched on the platform.
- Token Allocation:
- Seed Round: 0.70%
- Private Round: 5.00%
- Strategic Round: 2.30%
- IDO (Initial DEX Offering): 3.50%
- Team: 15.00%
- Token Liquidity: 10.00%
- DAO (Decentralized Autonomous Organization): 43.50%
- Liquidity Mining: 20.00%
- Current Circulation: According to CoinMarketCap and CoinCarp, L2PAD tokens have not yet been listed on any cryptocurrency exchange, and its self-reported circulating supply is 0.
Utility Token: The main purpose of this type of token is to allow holders to access or use products or services provided by a specific blockchain project or platform.
Team, Governance, and Funding
As for information about L2PAD’s core team members, there are currently no detailed listings in public sources. However, the project emphasizes its decentralized nature and mentions a "DAO discussion dashboard," which will be used for community project evaluation and voting. This means project governance will be community-led, conducted through a decentralized autonomous organization (DAO).
DAO (Decentralized Autonomous Organization): Like an organization managed jointly by code and community members, without a traditional centralized leadership, with all major decisions made by voting.
Roadmap
Due to the lack of a detailed whitepaper, it is currently not possible to provide a specific timeline roadmap for the L2PAD project. All we know is that the project was registered in 2021 and held a public sale on December 18, 2021.
Common Risk Reminders
Any blockchain project comes with risks, and L2PAD is no exception. Here are some common risk reminders:
Technical and Security Risks
- Smart Contract Vulnerabilities: Smart contracts are the foundation of L2PAD’s operation. If the code has vulnerabilities, attackers may exploit them, resulting in loss of funds.
- Layer 2 Solution Risks: Although Optimism and Arbitrum improve efficiency, Layer 2 solutions themselves may have technical or centralization risks.
Economic Risks
- Market Volatility: The cryptocurrency market is highly volatile. The price of L2PAD tokens may be affected by market sentiment, macroeconomics, and other factors, with the possibility of sharp declines.
- Liquidity Risk: Currently, L2PAD tokens have not been listed on exchanges, meaning liquidity is very low and buying or selling may be very difficult.
- Project Failure Risk: Any new project may fail, resulting in the token’s value dropping to zero.
Compliance and Operational Risks
- Regulatory Uncertainty: Global regulatory policies on cryptocurrencies are still evolving, and future regulations may impact L2PAD’s operations and token value.
- Competition Risk: There are many similar launch platforms in the market, and L2PAD faces fierce competition.
Not Investment Advice: Please remember, the above information is for reference only and does not constitute any investment advice. Before making any investment decisions, be sure to conduct thorough due diligence and consider your own risk tolerance.
Verification Checklist
Due to the lack of detailed official information, here are some suggested directions for verification:
- Block Explorer Contract Address: Look up the L2PAD token’s contract address on Optimism or Arbitrum, and use a block explorer to check token issuance, holder distribution, and transaction activity.
- GitHub Activity: Search for the L2PAD project’s GitHub repository to assess code update frequency, community contributions, and development activity. Current search results show a repository named CIMR-L2PAD on GitHub, but it is related to ESA’s Earth observation project and not a blockchain project. Therefore, you need to look for a GitHub related to blockchain L2PAD.
- Official Community: Follow its official website, Twitter, Telegram, Discord, and other social media channels to learn about the latest project developments and community discussions.
Project Summary
As a decentralized platform aiming to provide funding and launch services for new projects in the Optimism and Arbitrum ecosystems, L2PAD’s core value lies in promoting fairer, more community-driven fund allocation through innovative models like quadratic funding. It hopes to lower the threshold for new project issuance through features like automated secondary market creation. However, the project’s information transparency needs improvement, especially the lack of a detailed whitepaper and team information, and the token has not yet been listed, with extremely low liquidity. For anyone interested in L2PAD, it is strongly recommended to conduct thorough personal research and risk assessment before committing any resources.
For more details, please research on your own.