Dear Scaleswap Community!
Scaleswap is well known for its fairness and community-oriented approach. We always had the aim to give equal opportunities for participation in good projects for everyone.
From the very beginning, Scaleswap DAO put all time and effort into doing deep research and due diligence on the projects. We carefully take every needed step to ensure that each project launching on Scaleswap has good fundamentals — to protect our community.
However, we have seen an increasing number of projects and teams that have not followed proper guidelines, simply being irresponsible and not respecting their community’s funds. To filter out the more reckless actors, and also to make sure projects put full effort into making their projects successful, Scaleswap decided to announce the new type of decentralized offerings that will be held on Scaleswap – called “Protected Launch”.
By announcing “Protected Launch” Scaleswap DAO commits that the launch will be held with rules, in order to protect Scaleswap’s community and to give the additional motivation for projects to put full effort into making their projects successful.
Find below the rules related to the “Protected Launch”:
Keep in mind that in case of breaking any of these rules – there is a reason for refund to participants, based on the decision of community voting of people who participated in the IDO event.
Scaleswap commits to
- A minimum amount of liquidity to be added by the project on a DEX according to the total raise.
- Lock-ups required for “Team Tokens” (team, development, marketing, advisory, etc tokens) of the project launching on Scaleswap.
- The case when some of the project partners got deployed tokens on any exchange earlier than Scaleswap’s community – it’s a reason for the community voting too.
- If any of the launchpads that were co-launching the project, decides to reimburse their community – it’s a reason for the voting to refund.
- Only send funds to projects in batches according to a vesting schedule to be able to refund the community in the cases of project abandonment, hacks, exploits, system breakdown, or malicious activity. (The funds are held on the decentralized protocol and do not have custody control)
- To have no more than 30 days between an IDO and its token listing. In case of a bigger delay, the community has an opportunity to vote for/against a refund. Except this timing was clearly communicated before the IDO.
These protected launch rules are subject to change if our community asks for upgrades or changes. In case of changes, it will be communicated properly before the project is launched as an IDO. For projects already launched, protected launch rules that were set at the time of the IDO can not be changed afterward.