The blockchain space has become intensely active in 2023 as the prices of prominent cryptocurrencies rise. The rise in their prominence has led to numerous advancements across the blockchain space, including Bitcoin. Ordinal Inscriptions and BRC-20 tokens have redefined how we use the Bitcoin blockchain apart from digital monetary transactions. The emergence of these new token types calls for the need for different business models, including launchpads, for which the foundations have already been laid. In this blog from Blockchain App Factory’s experts, we focus on building BRC-20 launchpad platforms for businesses. Continue reading to know more about this latest business model.
BRC-20 Tokens: A Refresher
BRC-20 tokens are based on the Bitcoin blockchain network, whose first tokens were minted in March 2023. Since then, nearly 25,000 unique tokens have been minted, mostly based on memes. Although the anonymous developer behind them labeled them experimental, enthusiastic community members found them amazing, and hence the aroused welcome.
Despite there has been no possibility for these tokens to be used for on-chain transactions in the Bitcoin ecosystem, the developer community has been focusing on making them useful. BRC-20 launchpad platforms are one of those use cases that can benefit numerous user ends.
What Does a BRC-20 Launchpad Do?
A BRC-20 launchpad is a platform that enables new projects on the Bitcoin network to position themselves in the market. These launchpads function similarly to any other launchpad, functioning mostly based on the Initial DEX Offering (IDO) model. Bitcoin business projects can reach out to a wider community, attract followers, and gain funding by selling BRC-20 tokens.
The space is still nascent, with only a few platforms available in the market, making the BRC-20 launchpad an attractive business model. The platform can ease how business projects on the Bitcoin ecosystem achieve their goals without hassles by connecting with the global community
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Starring Features of BRC-20 Launchpad Development
- Connect Wallet: Providing wallet integration capabilities is a fundamental feature of BRC-20 launchpad development. One can connect their existing crypto wallet accounts supporting various upgrades of the Bitcoin network (Native SegWit, Nested SegWit, and Taproot).
- Native Token: A BRC-20 token launchpad should have its own native token users to buy and hold in order to participate in IDO sales from projects. These can also help the venture raise revenue through value appreciation.
- Liquidity Pools: Liquidity pools in a BRC-20 launchpad solution can help projects provide liquidity to their tokens after launch to enable seamless trading. These portals can also work well for investors wishing to stake their tokens to offer liquidity in exchange for monetary rewards.
- Staking Tiers: Creating tier-wise staking qualifications makes it fair for investors to participate in IDOs per the number of tokens they have bought. Giving different benefits can also encourage investors to purchase more of the launchpad’s native tokens to have better prospects during IDO sales.
- Incubator Portal: A BRC-20 launchpad platform with an incubator can offer end-to-end assistance for Bitcoin-native projects, from development and fundraising to marketing efforts. Such a provision can greatly increase a venture’s chances of establishing itself in the Bitcoin space.
Technical Architecture for the Best BRC-20 Launchpad Solution
The complex nature of the BRC-20 launchpad model necessitates us to know the underlying technical architecture of the platform. The below points can help you deduce the platform’s technicalities:
- Bitcoin Node: The BRC-20 token launchpad can have an independent Bitcoin node to facilitate seamless transactions at all times. Doing so enables the platform to access and register data from the network, appealing to the global Bitcoin community.
- Batch Transfers: The launchpad for BRC-20 tokens works with batch inscription transfers using the Ordinals protocol. Such provisions allow the platform to conduct transactions in batches, executing them faster and at economical costs.
- Multi-sig Security: A BRC-20 launchpad can utilize multi-sig security measures to handle in-app funds efficiently and fairly. Using such mechanisms enhances the platform’s security and instills trust in its users.
Why is Developing BRC-20 Token Launchpads Necessary?
Building a BRC-20 token launchpad is vital for the current Bitcoin ecosystem’s growth. With Ordinals and BRC-20 tokens attaining importance over actual BTC transactions, platforms like Ordinals marketplaces and decentralized finance (DeFi) applications have found their need. Such advancements have led entrepreneurs to choose the Bitcoin blockchain for their business.
With BRC-20 launchpads, a subsystem surrounding these fungible tokens can be formed with DeFi applications and marketplaces. These platforms even have provisions for advertising, enabling projects to reach their intended audience. In turn, generating profits becomes easier with the availability of multiple revenue streams, including listing fees, advertisement service fees, and native token value.
Blockchain App Factory: An Innovation Hub with Expertise in Latest Technologies!
At Blockchain App Factory, we believe in tapping into innovative business models, and our excellence in BRC-20 launchpad development is courtesy of this. Our experts can create comprehensive BRC-20 token launchpads that reflect your business needs while ensuring all of Bitcoin’s technological requirements are met. The emerging nature of the extended Bitcoin ecosystem means our experts can aid in scaling your business with future upgrades.
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