Through CloudFunding, which is a launchpad aimed to introduce a new dimension to the notion of crowdfunding, contributors to the platform are granted exclusive access to carefully vetted crypto projects as well as other one-of-a-kind incentives, all while maintaining custody of their initial investments, as per a press release shared with Finbold. At present, in cryptocurrency launchpads, contributors determine how many tokens they intend to put towards the effort. Instead, donations to CloudFunding originate from the incentives received by participants’ wrapped FLR/SGB capital; this method assures contributors will always keep their primary investment. Hugo Philion, CEO and Co-founder of Flare, stated: Philion added:
Contributor allocations
What’s more, using the launchpad, contributors may allocate 1% to 100% of the benefits generated by their primary finance initiatives, all while keeping their initial investment in a safe and low-risk crowdfunding process within the crypto sector. Users will get an IOU of the project’s token in exchange for their contributions, which will be listed by a number of Flare’s decentralized exchange (DEX) partners before the token creation event. These IOUs may then be freely transferred without waiting to distribute the project’s native token. The main advantage for projects that start on CloudFunding is that they get a consistent cash flow at the close of each award cycle and throughout the length of their community’s commitment. All while keeping their communities apprised of their progress, deliverables, and milestones, CloudFunded projects will have a method to pay their bills, finance development, promote themselves, and construct a long-term business strategy with this funding.
Launchpad enables support for ‘best possible projects’
Regarding the launchpad, Laura Moreby, Head of Communications and spokesperson for Lena Instruments, declared: Finally, users will have the peace of mind that comes from knowing they will maintain custody of their original principal throughout the process, allowing contributors to develop a stronger level of trust among their communities.
