SuiPad: An innovative project incubation platform in the Sui ecosystem

As the first comprehensive project incubation platform on the Sui public chain, SuiPad integrates IDO, ISO, and INO functionalities and is preparing to conduct a public fundraising event on May 7th and 8th. This article will delve into the unique aspects of SuiPad and its innovative mechanisms.

SuiPad Overview

SuiPad is positioned as a community-centric new project launch platform within the Sui ecosystem. As a first-level project on Sui, SuiPad is dedicated to providing comprehensive incubation solutions for projects on Sui through its partnership with Mysten Labs. Currently, SuiPad's flagship product is its IDO platform, aimed at screening and recommending the most promising emerging projects within the Sui blockchain.

Innovative Features of SuiPad

Sui Tank

Sui Tank is an innovative reality show that allows Web3 startups to showcase their projects to experienced venture capitalists. This format, similar to "Shark Tank," not only provides fundraising opportunities for project parties but also allows community members to learn how to analyze projects from a professional perspective.

SuiPad Shield insurance

To address the potential loss risk users may face when participating in IDOs, SuiPad has launched the Shield insurance mechanism. Users can choose to pay an additional 15% premium to protect their principal. If the project performs poorly within 7 days after the IDO, the insurance pool will compensate users for their losses, effectively reducing participation risk.

SuiPad Academy

SuiPad Academy offers a 16-week Web3 development bootcamp, covering front-end and back-end technologies, foundational computer science knowledge, and Sui Move development. This not only cultivates Web3 talent but also injects new vitality into the SuiPad ecosystem.

Token Staking and Layered System

SuiPad adopts a six-tier staking system, ranging from Ruby to Sui level, with staking amounts varying from 2500 SUIP to 100000 SUIP. The more SUIP users stake, the larger the allocation they may receive when participating in the IDO.

In addition, SuiPad has introduced a locking multiplier mechanism that allows users to enhance their levels by locking tokens for an extended period without the need for additional staking. This innovative design encourages long-term holding while increasing user engagement.

Token Distribution and Roadmap

The distribution of SUIP tokens covers multiple aspects, including ecosystem development, team incentives, and market promotion. The development roadmap of SuiPad includes important milestones such as the launch of the testnet to the mainnet, the production of the SuiTank program, and the launch of SuiPad Academy.

Team Background

The founding team of SuiPad has extensive experience in cryptocurrency exchanges and blockchain development. CEO Joe Wan has worked in the project launch and listing department of top centralized exchanges, CMO Daffy Lau has rich experience in marketing, while CTO David Tiser has led large Web3 and DeFi development teams.

Financing Overview

SuiPad has completed over $1.15 million in private placement financing, supported by several well-known investment institutions. The public fundraising plan will take place on May 7th and 8th, divided into OG (private) round and WL (public) round, with token prices of $0.035 and $0.05 respectively.

SuiPad's innovative mechanism and comprehensive ecosystem design bring new vitality to the Sui public chain. By integrating diverse functions such as education, insurance, and community participation, SuiPad is expected to become an important force in promoting the development of the Sui ecosystem.