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Thorstarter is a decentralized launchpad created to bring cross-chain liquidity to long tail crypto assets. The project transforms the way that new crypto projects source liquidity by providing a launchpad that brings cross-chain liquidity to ensure that funds are fairly raised. It does this through issuing liquidity grants to early stage projects and helping them launch via initial DEX offerings (IDOs). Projects which IDO can then swap native, THORChain-pooled assets with their token.
This is attractive for new projects for a few reasons: 1) Users (holders, traders, supporters) of their project can access liquidity from other blockchains, without using synthetic or wrapped assets, 2) They get a sizable upfront grant and investment from Thorstarter; 3) They get the support of both THORChain and Thorstarter communities and marketing arms; 4) They are LPs with a token — XRUNE — that, like RUNE, is a hyperliquid settlement currency. This makes the XRUNE grant even more attractive, since its demand will grow alongside the growth of Thorstarter.
Launchpads play an important role to allow broader adoption and building early communities. Launchpad tokens work as access tokens to allow users to access new projects. The structure of this access depends on each specific launchpad with some requiring large amounts of locked tokens relative to allocation. We’ve built Thorstarter with two important design principles in mind.
First, flexible design. Thorstarter works like a swiss army knife for structuring distribution. Projects can use a combination of methods to divy up allocation to groups of users. Second, Thorstarter Grants. XRUNE is always paired with another asset to allow cross chain swapping using native RUNE-XRUNE on THORChain. This is similar to Uniswap Grants for new promising projects.
Projects selected for THORSTARTER approval will need to go through a grant process, which is governed by a community DAO and signed off on by a 9-member multisig. These 9 members will together form a Council, named The Council of Asgard.
Every new project will go through evaluation by the Council of Asgard, and approved projects will be seed funded by the THORSTARTER Ecosystem Liquidity Fund. A project will have to go through the following stages to be selected, and funded with liquidity for an ASSET-XRUNE pool in external AMMs.