Press Release
BullPerks and GamesPad Are Revolutionizing The IDO Investment Space With Their New Self-Regulation Policies
Crypto Launchpads are calling to self-regulate in hopes of protecting investments and curtailing harm.
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Cryptocurrency and the industries surrounding it have garnered an infamous reputation for being vulnerable to schemes and grifters, easy to hack, and even easier to lose. The volatility and decentralized nature are what draw many to the emerging world of cryptocurrency, and it is also what gives others pause to join it. Centralized regulation might be on the agenda for some countries and governments, but that completely deviates from the nature of the movement and extinguishes its core values – Crypto, DeFi, GameFi, blockchain, NFTs, they are here to disrupt the traditional structures and empower people to take the value of currency back in their hands.
So what is the answer to flushing out the negative side effects of an emerging industry like this one? Influential companies within the industry are taking initiative to self-regulate. Being at the forefront of IDO policy-making, BullPerks and GamesPad are creating the alliance to establish new industry standards and higher accountability in the IDO space.
The Need For Self-Regulation
Crypto launchpads have always been a helpful facilitator for bringing together promising projects, entrepreneurs, and investors, with no strict rules or regulations except a desire to connect the community with exciting opportunities in an emerging field. But reputable launchpads are seeing trends that jeopardize their credibility as well as harm the community, from delayed launches to insufficient marketing, and delayed token distribution. The need for the self-regulation of crypto launchpads is more clear now than ever before.
GamesPad and BullPerks Implement New IDO Policies
Even in their short time in the industry, both BullPerks and GamesPad have always made it a high priority to practice thoughtful due diligence on all projects they do for launch on their platform. This foundational structure of their companies has made it possible to create and implement new policies for the continued success of their launchpads.
As they have been “committed to protecting users and prioritizing the safety of their investments from day one, BullPerks and GamesPad are introducing new self-regulation policies that will create all the favorable conditions for a successful IDO launch on these platforms, as well as secure investments for all users.” – Constantin Kogan, Co-Founder of BullPerks and GamesPad.
“We have seen too many projects taking advantage of retail investors so these new regulations are to protect those investors and hold projects accountable. We are in the process of creating an alliance of top launchpads to make these rules and more into industry standards” – Eran Elhanani, Co-Founder of BullPerks and GamesPad.
Below are just a few of the new policies that will be put in place by BullPerks and GamesPad:
- Both BullPerks and GamesPad won’t accept projects with unreasonable valuations (FDV) or where multiples between the seed and the public rounds are more than 5x.
- BullPerks and GamesPad will not participate in project launches if more than 4–5 launchpads are participating in the project public launch and will limit projects launching on our platform to around $1M in public raise unless there are exceptional reasons to justify a larger raise.
- Due to multiple issues where other launchpads got tokens prior to our community, GamesPad and BullPerks will enforce that all projects will verify the distribution times of all parties. Everyone will get the distributions at the same time or else they will suffer a substantial financial penalty or full refund or partial refund of all future distributions.
- GamesPad and BullPerks will require from projects full amounts of tokens before their launch. Unless the project has created a prior vesting contract with entire token amounts to be distributed on specific agreed dates which will be verified so it can’t be changed later.
- GamesPad and BullPerks will send the funds collected from the public IDO or VC deals only according to the vesting schedule. In other words, we will no longer release the funds at the TGE. GamesPad and BullPerks will hold raised amounts for refunds at a safe vault in case of rug pools or any other critical failure caused directly or indirectly by incompetent management of the company.
To view the complete list of new policies for BullPerks click here. And view GamesPad’s full list here.
Stronger Policies, Stronger Investments, Stronger Community
By publicly implementing these new policies within an established safety-minded system, GamesPad and BullPerks hope to incentivize responsible and well-intentioned entrepreneurs with properly vetted projects while continuing to effectively filter out those who do not want to utilize the community or its funds in the correct ways.
Both GamesPad and BullPerks will continue to engage in the practices that have been central to their core values since the beginning and look forward to how these new policies will strengthen the community and make their launchpad an even more successful place to invest.
