Vent Finance introduces multi-chain capabilities for Binance Chain and Ethereum network users
Decentralized IDO launchpad, Vent Finance is finally going multichain, adding the BNB and Ethereum blockchain projects to its ecosystem. These two blockchain networks join Polygon ($MATIC) and Cardano ($ADA) to offer a multi-chain launchpad for all IDO participants and project creators.
Announced Wednesday, Vent Finance, a full-stack IDO launchpad is adding BNB Chain and Ethereum network to its ecosystem in an effort to build a full-scale multichain crowdfunding ecosystem. The expansion to two of the largest blockchain communities is expected to open up the Vent Finance ecosystem to over 4 million crypto users, powering blockchain projects and offering a platform for all users to participate in token sales.
Initial decentralized exchange (DEX) offerings, or IDOs, are becoming a preferred way for most blockchain projects to crowdsource funds at their early stage. Nonetheless, the growth of IDO launchpads has been limited by the lack of interoperability across blockchains, which reduces the liquidity and adoption rates of these early-stage projects. Vent Finance is working on creating a single extensive network of blockchains that solves these interoperability issues and provides funding solutions to new Web3 projects.
Alexander Kunzman, Co-founder of Vent Finance believes projects should be moving towards a multi-chain ecosystem rather than competing with each other. He stated that the introduction of multi-chain solutions could lead to a more cohesive blockchain ecosystem, “improving the end-user experience or allowing rapid and further innovation” in the space.
“With the vast amount of new web3 projects arising, we realize there is no one perfect solution to meet all blockchain needs,” Kunzman said. “Instead of portraying the multi-chain ecosystem as competition, the team and I see it as the way to connect every chain that serves a different use case to either improve the end-user experience or allow further innovation.”
Adding BNB and Ethereum to its IDO launchpad will provide multi-market access to users and project creators and provide interoperability solutions through the viable and secure chain and bridge port development. New and existing users can transact on their favorite network and easily switch back and forth to other supported networks.
Providing sustainable crowdfunding solutions
Vent Finance launched in early 2021 promising to empower startups, early-stage stakeholders and token holders with technology that supports the sustainable growth of blockchain projects. Combining, security, transparency, and easy-to-use features, Vent’s newly improved IDO launchpad aims to revolutionize the crypto fundraising scene and help in maturing the decentralized finance (DeFi) and metaverse ecosystems.
At launch, the project deployed its first successful dual IDO with DAO Maker, raising over $168,000 for the project, with a 42x return on investment (ROI). The project has since raised over $1.5 million in funding for its launchpad supported by prominent crypto VCs and angel investors including DAO Maker, Vendetta CapitaL, Metrix Capital, Unanimous Capital, Dots Capital, Blocksync Ventures, Three M Capital, SkyVision Capital, SL2 Capital, X21 Digital, Bridge Mutual, and Synaps.
To date, the Vent Finance launchpad has successfully launched over 15 crypto projects, totalling over $3.5 million in transaction volume. The explosive growth of Vent Finance saw the project listed as the top launchpad by current IDO average ROI in Q1 2022, a report by CryptoRank shows.
— CryptoRank.io (@CryptoRank_io) April 15, 2022
According to CryptoRank, Vent Finance ranks second in current ROI (17.10x), with $2.91 million raised so far on the platform, only bettered by Lighthouse, a new IDO project with 176x ROI. Nonetheless, the introduction of BNB and Ethereum will open up the platform to more users, which could give ‘early birds’ a greater return on their token purchases.
Apart from providing an IDO launchpad, Vent Finance also supports Web 3 entrepreneurs with guided launches and the tools to better manage their funding, thereby fostering accessibility, trust, and inclusivity. This allows project creators to focus on building innovative and quality products for their users.
In his concluding statement, Kunzman confirmed that Vent Finance will continue integrating more blockchain projects, with an eye for Moonbeam ($GLMR), Cosmos ($ATOM), and Solana ($SOL) in the coming months.