💢UTXO launchpad

What is a launchpad: Crypto launchpads, also known as crypto incubators, are platforms that allow blockchain-based projects to raise capital while giving access to early-stage token sales for their group of investors. Access to early-stage deals means a bargain price for the investors before the public launch on the market. Also, because the cost of launching in a crypto launchpad is low (or insignificant), increasingly more projects are heading towards launchpads for fundraising. In this way UTXO want to create an UTXO ecystem via the launchpad to attract more teams and dapps to build on top of the SRC20 protocol.

Creating dapp proposals

Dapp proposals are proposals regarding new dapps that are build on top of Bitcoin and accept UTXO, BTC and (native SRC-20 token of the project/dapp). Dapp proposals via UTXO’s launchpad could add additional value and utility to UTXO and the whole ecosystem.

Via dapp proposals the community could provide clarity and direction to the need of what kind of new dapps they are interested in and think could provide additional value to the ecosystem. The UTXO community could help the new teams and projects by funding BTC via dapp proposal votings. Teams could host a fair launch mint of the SRC-20 token if they want to include this in the dapp beside UTXO and BTC.

The wallet and team who upload the dapp proposal is required to set a btc funding cap. If the proposal is approved by more than 50% of the community but the btc funding cap of the project is not reached by the community donations, the dapp proposal will be rejected. If the dapp proposal is approved by more than 50% of the community and the BTC funding cap is also reached, the dapp proposal will move forward to the next phase: The final dapp proposal and voting

Note: Only wallets holding 100K plus UTXO tokens could upload a dapp proposal. Also it cost 100 dollars in BTC to upload a proposal. This transaction will be split up in 2 separate transactions. 66 dollars goes to the UTXO community treasury wallet and 33 dollars goes to the developers' wallet for creating and hosting the UTXO dapp.

Note: If you want to upload a proposal you need to pay 2 transactions thus you need to cover two times the gas fee in BTC.

Note: Users / wallets need to pay an collateral (amount) in btc for the gas fee to inscribe the proposals end result on-chain on top of bitcoin inside an UTXO. This is only necessary for users who upload a community or dapp proposal.

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Final dapp proposals

During the upload process of the dapp proposal, the user needs to set the proposal date and the final dapp test date. Once the first dapp proposal is approved by more than 50% of the community and the BTC funding cap is reached, the final test dapp phase will become active. At the chosen specific time and date the dapp needs to be ready and active so the community can vote again on the final dapp proposal. If the final dapp proposal is approved by more than 50% (of all the users that were active during the first dapp proposal round), then the funded btc from all users will be send to the team/developers wallet address. If the dapp is not approved by 50% of the users. The team and projects needs to gather feedback and set a new test dapp proposal date and once that moment in time has arrived. The specific users/ wallets could vote again on this proposal.

Voting on community proposals

Voting on the community proposal is free. The only requirement is that your wallet need to hold 1 or more UTXO tokens. The voting power of 1 is equal to 100 UTXO tokens. Also, UTXO has implemented a whale cap with a maximum of 500K UTXO per wallet thus max 5000 voting power per wallet. If you hold more UTXO inside your wallet your voting power will not in increase.

Voting on dapp proposals

Once a user/ wallet has UTXO tokens inside his/her wallet the user could vote on dapp proposals. The only requirement is that you need to donate at least 50 dollars in btc to vote on the proposal.

Once you donate 50 dollars in btc or more for a dapp proposal, the BTC will be sent to a sub-wallet that is connected to your connected wallet and is only accessible by the specific user.

Once the final dapp proposal is approved, all the BTC inside every users subwallet that have voted and granted a specific amount on a specific proposal will be released to the teams btc funding wallet address.

Once the final dapp proposal has failed, the team / project has 2 additional changes to update their final dapp proposal. If 3 final dapp proposals have failed the dapp proposal will be rejected and closed. If this happens the BTC inside the users subwallet will be unlocked and the users could withdrawal his/her BTC or they could re-use the BTC and donate and lock it for a new dapp proposal.

Note: depositing and withdrawals to and from your BTC subwallet to your main wallet cost additional gas fee in BTC coins.