Step-by-step Launchpad
launch is scheduled for the third phase of the project development
Step-by-step Launchpad is a decentralized launchpad with gamification and insurance fund, projects audit performed by expert teams and community members.
Any project can apply for fundraising via Launchpad. The steps are as follows:
  1. 1.
    Application:
    • filling in the application
    • making minimum deposit (1 000 USD in tokens $8F)
    • pre-audit: KYC team, uploading video pitch of the project
    • uploading the presentation, financial model and other files
  2. 2.
    Expert Teams:
    • review of the project by the Expert Teams
    • question-answer sessions
    • improvements to the project
    • Expert Teams' approval of the project
    • preparing the project for a user vote
  3. 3.
    Step-by-step Launchpad users vote FOR or AGAINST the project:
    • publishing all information about the project for users
    • voting within 72 hours
    • making changes to the project in the event that vulnerabilities are discovered by members of the community
    • closing of the vote and vote tabulation
  4. 4.
    Fundraising
  5. 5.
    Conclude fundraising and start working on the project:
    • DAO is formed from the project investors; DAO manages the funds raised during the fundraising phase; each user has a share in accordance with the amount of investment
    • the project receives the raised funds not at once, but in small batches in accordance with the KPIs defined in advance by the teams of experts and decided by the participants of the DAO

Experts team

An Experts team (hereinafter referred to as ET) is a team of at least 3 people who understand the blockchain field, DeFi, smart contracts and other market components.
Each project must be approved by at least 3 ETs to proceed to the next stage: audit of the community members.

ET operation quality and their reward.

Several mechanisms have been developed to ensure a high quality of ET operation:
  • if the ET allows the project to transfer to the next stage, it shall be obliged to buy back this project coins at a price 2 times lower than the presale price, but not less than 1,000 UDF in $8F tokens per each team and not less than 1% of all project coins for all ET teams participating in the operation
  • mandatory lockup of ET coins for at least 6 months, so that ET allows for vote only high-quality projects having a chance for long-term success
  • An ET can also offer a project team to purchase an additional amount of coins over the limit using a special application. The amount of coins and the purchase price are specified in the application
  • each ET has its own page with details of team members, projects they have checked, funds invested and reputation
  • new projects can send invitations to any ETs to analyze their project (the ET reputation will matter her: the higher it is, the more new projects will apply to them)
  • 8.Finance periodically publishes a ranking of the best QEs that projects can apply to
  • we plan to launch additional mechanisms to motivate the work of QEs on our platform
This mechanism motivates ETs to pass only the best projects to the next round. And the number of ETs that have checked the project and bought their coins serves to indicate the quality of the project to the community.
Any teams are able to apply for the ET status (crypto-funds and DAOs are the priority) if they fill out an application, make a minimum deposit (1,000 USD in $8F tokens) and meet certain criteria (team members must pass KYC, fill out questionnaires with all the information about the team, give public links to their social media accounts, websites links, etc).
The more Expert Teams are in the project, the more decentralization is and the greater amount of new projects can be checked.

Project users

After checking the projects by the ET, the project shall be submitted for audit and voting by the platform users with feedback already received from the ET and information:
  • project presentation
  • video pitch of the project (optional)
  • information about the team KYC
  • evaluation of the project by each ET according to different criteria
  • feedback from each ET on the project
  • information about the project tokens by ET
Users votes FOR or AGAINST the project, in fact, it is a fundraising stage. Users are given 72 hours to vote, this period does not terminate earlier, even if the votes are obtained during the first second.
Voting is performed using $8F tokens, which users block in the smart contract during the voting. Each user can vote FOR or AGAINST the project with the amount of XX $8F coins, determined by expert teams separately for each project.
By voting FOR the project, users confirm they believe in it and agree to buy back its coins at the said amount of $8F voted for the project. The votes FOR are counted with a PLUS sign. The collected $8F as part of the FOR votes of the project are blocked for replenishment of the Hard Cap. At this stage, the number of FOR votes should be at least equal to the amount of the Soft Cap of the project.
By voting AGAINST the project, users express their distrust towards the project. AGAINST votes are counted with a MINUS sign. At the same time, one can vote with the amount of XX $8F coins maximum, determined by the ET for each project individually. The weight of "AGAINST" votes is 3 times higher than the weight of "FOR" votes. Each user voting AGAINST for the maximum number of coins can leave a comment for the ET about the project or some of its vulnerabilities, and the ET may suspend or cancel the vote due to this, returning the funds to users.
If the AGAINST votes win at the end of the voting, 50% of the FOR votes will be distributed in their favour (so users can earn up to + 150% to their votes by voting), the remaining 50% will be directed to the insurance fund. If, according to voting results, the FOR project votes prevail, those who voted FOR are guaranteed to obtain an allocation in the project. And the funds of those who voted AGAINST will go to the Insurance Fund in full.
If the number of votes for 72 hours is positive (and the amount of $8F obligatorily exceeds the Soft Cap), and the Hard Cap declared by the project team is fulfilled at this stage, the fund-raising is automatically completed, users obtain tokens of a project. If the number of votes is positive (and the amount of $8F obligatorily exceeds the Soft Cap), but Hard is not completed, the project moves on to the next fundraising stage. The place where any users can buy project coins. This stage date depends on the project team and ET, the duration is 24 hours.

Insurance fund

The insurance fund is intended for payment to users in the event of a possible scam of projects launched through Step-by-step Launchpad, within 8 months after the voting. Only users who participated in the sale in our Launchpad through their wallets receive a payment for the amount of coins they bought in our sales. Maximum insured amount is equal to the amount of funds in the insurance fund, but does not exceed 1,000,000 USD in $8F tokens per project. At the same time, ETs do not receive compensation from the Insurance Fund in case of risks realization.
The project team, at will, can replenish the insurance fund with an additional contribution for the users to have more confidence in Step-by-step Launchpad.
Why are 3 days allocated for auditing and user voting? For all the 8.Finance users to analyze and comment on the project, vote “FOR” or “AGAINST”.

Gamification

If the project did not collect the Hard Cap at the voting stage, users need to participate in 2 games to receive an allocation at the next stage:
  • entertaining game (one of 8 games for project choice)
  • game for the project tokenomics awareness (the simplest questions for understanding the project essence)
Users receive the allocation based on the number of points obtained in these rounds.

Commission for the participation of the project in the Launchpad

The project makes a 8,888 USD in $8F tokens deposit, and after the fundraising pays 8% of the project's fees of $8F (but not less than 8,888 USD in $8F tokens) + 0.8% of the total project tokens number.
Commissions are distributed as follows:
  • 0.8% of tokens are sent to the Investment Fund
  • 8% of tokens are sent to the "Commission Vault").
If the project does not pass the ET stage or the voting stage, the deposit is returned in full less the BSC blockchain commission and 8% service fee. 0.8% of tokens are returned completely.
If the project passes the voting and ET stage, the project pays an 8% commission from the fees (but not less than 8,888 USD in $8F tokens), and the deposit or its balance is returned to the project team. 0.8% of coins are transferred to Investment Vault.

Phased funding of a project as and when KPIs are met

Normally, funds raised by projects on the Launchpad are fully committed to the team, which spends them entirely at its discretion, with no mandatory reporting of expenditures to its investors.
At Step-by-step Launchpad, funds are locked into a DAO smart contract and unlocked according to the project team's performance against the Expert Teams' set KPIs. The setting and fulfillment of KPIs is monitored by the Expert Teams. Expenditures and project plans will be visible only to the Expert Teams, but all users take part in voting and may block allocation of the next tranche if dissatisfied with the project team or the Expert Teams. Stage financing (otherwise known as project financing) is used in the work of investment, banking and other financial institutions to minimize the risks of investing in projects and to keep project members disciplined when receiving money.
Step-by-step financing will bring the following benefits to the cryptocurrency community:
  • discipline of project team members who are recipients of the money
  • high quality control of project development by the Expert Teams
  • minimisation of potential risks and losses of investors/users when investing funds in DeFi projects.