The .xyz community is growing with decentralized finance solutions, cryptocurrency tools, and investment platforms, as blockchain innovations continue developing worldwide. Crypto wallet Monolith.xyz aims to make it easier for users to buy, store, and spend their cryptocurrency in the real world. Web application IfYouBought.xyz helps you calculate how much money you would have made if you had invested in stocks or cryptocurrency. NFT-focused FlamingoDAO.xyz created a platform for investing in blockchain-based assets. In this week’s #WebsiteWednesday, we’ll introduce you to a community-driven launchpad aimed to connect investors with inventors of projects based on a choice of seven different blockchains: Starter.xyz.
Starter.xyz is a community-oriented decentralized launchpad for innovative blockchain-based projects. The Starter.xyz platform is unique for its multi-chain ecosystem, which means the platform supports project launches on seven different blockchains (Binance Smart Chain, Ethereum, Cardano, Solana, Polygon, Fantom, and, most recently, Avalanche). Members can connect their wallet from either of those blockchains for purchasing and storing the platform’s native $START token.
The $START token functions as a means of exchange, store of value, and a unit of measurement inside the Starter.xyz ecosystem. The total supply of $START is 1,000,000 tokens. Out of this total supply, 850,139 tokens are already in circulation. The current market price of $START (as of September 1, 2021) is $6.91. The $START token also provides the power to vote for projects to be launched on the platform.
Starter.xyz uniquely provides projects access to funding opportunities without common obstacles such as complex Know Your Customer (KYC) requirements. (KYC requirements help financial institutions to “know their customer,” stay compliant, and add value to the banking experience for their customers.) Starter.xyz allows developers to submit their projects directly to the platform’s community for review. After review, the community will come together to vote and decide on which projects will be listed. Every community member is required to perform their own due diligence and research before voting for projects to be listed. Every project receives an equal chance to access investment funding, and investors can quickly identify and invest in legitimate projects that meet their requirements.
Successful project launches include crypto lending platform Yamp Finance, gaming-focused social platform Wasder, and investment platform Wall Street Bets. The platform is launching projects that combine two popular utilities of 2021: decentralized finance (DeFi) and iGaming. This combination has resulted in a new term known as Gamified Finance, or GameFi. In September, Starter.xyz announced that Starchi, their first DeFi game, inspired by nostalgia for the original Tamagotchi, was awarded a grant from the Polygon Foundation. Within the game, players are tasked with acquiring and nurturing adoptable digital pets called Starchis from infancy to adulthood. Players are responsible for preventing further extinction of Starchi through friendly battles that allow them to socialize their digital pets and earn wages to become top collectors in the Starchi village. At the end of August, the community voted to list a first of its kind project called BUSTA. BUSTA is the first GameFi project built on the Binance Smart Chain. This jackpot game will also feature a trading and betting module as well as their own Decentralized Autonomous Organization (DAO), which will allow the BUSTA community to control most of the ecosystem.
Starter.xyz is a welcome addition to the .xyz community of blockchain innovators and forward-thinkers. We are inspired by their claim to have raised over $20M USD for more than 30 blockchain-based projects, and we are eager to see the projects that come to life. You can learn more by following them on Twitter @Starterxyz, LinkedIn, or by visiting Starter.xyz.