Paid Network Review: Is It the Best Crypto Launchpad?

Paid Network is a crowdfunding launchpad focusing on funding Web3 startups and has helped over 100 projects raise $35 million from 250,000 members.

Paid Network is a crowdfunding launchpad that focuses on funding Web3 startups. It helps these companies launch their tokens and get funded by crypto traders. The platform itself is powered by the $PAID token, which is used for staking, voting, and getting special access to new projects.

But with so many decentralized launchpads on the market, is this offering enough to stand out in a competitive industry? In this review, we’ll take a closer look at Paid Network, including how to join a launchpad project, how projects are selected, and how it compares to its rivals.

What Is Paid Network?

Paid Network is a decentralized crowdfunding platform that is designed to help Web3 startups get funded. It connects emerging blockchain projects to a pool of investors in a transparent ecosystem.

The platform has included projects across the DeFi, AI, and gaming sectors, and it has helped over 100 projects raise over $35 million from 250,000 members.

Its goal is to transform Web3 crowdfunding by focusing on long-term value creation. This contrasts with the short-sighted practices often seen at traditional launchpads, which are more focused on maximizing immediate profits.

Paid Network aims to provide retail investors with better opportunities while ensuring the selection of high-quality projects. Its unique fundraising model is designed to distribute tokens in a fairer manner.

How Does Paid Network Work?

Paid Network helps projects fundraise via its decentralized Ignition launchpad. Investors can participate in token sales by holding or staking $PAID tokens, which grants them tiered access to new projects. Its main tier is EarlyPool which requires you to stake a minimum of 75,000 $PAID tokens (around $2,500 at current prices) to get instant access to all crowdfunding activities with uncapped allocations.

There is also the early access OpenPool which only requires 7,500 $PAID tokens for a prefixed allocation. The downside is that this pool opens only an hour before all users can join – leaving little time for researching projects.

For builders, you need to submit a one-page application form. If successful, you will be listed on the launchpad. You must also create a marketing deck and show a breakdown of tokenomics and evidence of your project through GitHub.

Paid Network Services & Features

Let’s look at the main services from Paid Network:

Ignition Launchpad

Ignition is the core of Paid Network, offering early-stage token sales for blockchain projects. A tiered allocation system provides a transparent, fair distribution and prioritizes community-focused fundraising.

By focusing on long-term value rather than short-term profits, Ignition aims to avoid rug pulls, an ongoing issue in the crypto space. Crypto is built on the remains of thousands of projects that started with a pump, only for the developers to run off with as much as they can collect.

The Ignition platform has raised over $35 million and has seen some fantastic returns for investors on some projects, including $AIOZ, which was listed at $0.015 during its token sale and is currently (at the time of writing) trading at $0.34.

All projects are rigorously researched before being offered to the public.

Staking & Governance

Investors can stake $PAID tokens to participate in Ignition launches and earn rewards, and Paid Network has $6.7 million in total value locked (TVL) from over 2,500 stakers.

Those who stake 75,000 tokens receive first rights on sales, with users that lock in 7,500 able to enter thereafter.

There is a 2% tax for staking and unstaking tokens. Rewards are issued via sPAID tokens and additional $PAID tokens are mint directly to your wallet.

The staking mechanism also benefits governance, allowing token holders to participate in platform decisions and upcoming project selection. Governance features enable votes on new projects, deciding strategic partnerships, and voting for platform upgrades.

This ensures that the network evolves in alignment with investor and developer interests and helps limit centralization and the addition of short-sighted incentives.

How to Join Crypto Launches on Paid Network

Here is a quick guide on how to join launches on Paid Network:

Step 1: Sign Up

Start by creating an account on Paid Network. Enter your email and password, then agree to the terms and conditions.

Next, complete KYC by submitting a valid ID document and proof of address. If your application is accepted, your account will become verified.

Step 2: Connect Wallet

Now, connect your crypto wallet to Paid Network. You can use either a Solana or KOII wallet address.

Step 3: Explore Upcoming Sales on the Ignition Launchpad

Look for current live sales on the Paid Network website. You will see the token price, launch date, and amount of funds it’s looking to raise. Choose the one you feel comfortable investing in.

Step 4: Stake $PAID Tokens