StarLaunch

According to the whitepaper, StarLaunch is the leading insured IDO launchpad and the project incubator (an organization that helps startup companies and corporations to develop their business) for Solana. An initial DEX offering (IDO) is a fundraising strategy that pools funds from retail investors. StarLaunch aims to connect the backers' community with authorized and vetted Solana blockchain projects.

StarLaunch works on a dual token system: a deflationary governance token ($STARS) and a secondary utility token named Hydrazine ($N2H4) to access IDOs. 

Apart from this, the StarLaunch token comes with the following features:

$STARS token staking develops Hydrazine ($N2H4), which is a utility token that offers users an opportunity to contribute or invest early in the vetted IDOs venturing through the platform.

Even though there might be an event failure due to team negligence or exploits in the event mechanism, users can stay protected and participate in the event with confidence.

The incubated projects can access vital resources and services such as token engineering, branding, front end, security audits, socials, and awareness.

The two-token model separates market volatility from platform governance. Hence, the staked but unlocked STARS are burned because of its deflationary ecosystem.

After all, StarLaunch also provides vital insurance protection to the backers for each IDO launched on the platform, three months post-IDO, till a launched project works as expected and a product is furnished. In the infrequent event where a project doesn't work as planned, whether because of a DeFi exploit, vaporware, or team wrongdoing, the insurance payout offers every IDO user a refund of the initial allocation amount.