How TokenSoft IDOs Drive Massive Crypto Success

One of the best ways of supporting early-stage crypto projects in the market is through Initial decentralized exchange offerings (IDOs). 

Tokensoft: Rise and rise of crypto IDOs

IDOs have become a go-to choice for investors. In fact, data shows that around 76% of all public token sales now happen through IDOs, while ICO direct sales have shrunk to 2.3%, with the remaining 21.4% happening through IEOs.

What’s exciting about IDOs is that investors can purchase high-potential projects at a potentially lower rate and trade tokens immediately upon listing.

From Avalanche to Pencils: IDOs on Tokensoft

Platforms like Tokensoft facilitate these token sales and have been instrumental in the success of many IDO projects. Here are a few notable examples:

Avalanche (AVAX)

Avalanche saw massive success in the DeFi space. It held its token sale on Tokensoft, raising a remarkable $42 million within just four hours. The platform is well-known for its high scalability and fast transaction speed. Since its IDO on TokenSoft, its native token AVAX has surged by 4500%, reaching a value of $25, according to CoinMarketCap. 

The rapid success of AVAX marked a strong interest from investors in potential IDO tokens, and its price surge translated into exponential returns for early backers.

The Graph (GRT)

The Graph’s $GRT token sale was also launched through Tokensoft, successfully raising $12 million from investors across 99 countries. To date, GRT has seen a 373% increase in value, yielding significant gains for those who participated in the IDO at a much lower price. The platform provides a decentralized indexing protocol for querying blockchain data. This project attracted massive interest during its token sale across broader geographical regions, offering substantial returns for early investors. Additionally, The Graph continues to be widely adopted by blockchain developers.

Manta Network (MANTA)

This project is up by 193% to date, highlighting a healthy return for its early investors. Manta Network held a successful IDO of its $MANTA token on Tokensoft, raising $28 million. The growth signifies the project's potential as it continues to develop its privacy infrastructure and attract partnerships. Notably, Manta Network is a privacy-preserving protocol, focusing on building interoperable and scalable private transactions. It primarily works on privacy in the DeFi ecosystem, gaining attention in a market increasingly concerned with secure transactions and user data protection.

Pencils Protocol (DAPP)

Yet another promising project on Tokensoft is Pencils Protocol. The project launched the token sale of its native token, DAPP, on September 18. The sale was oversubscribed by 6x, with approximately 35,000 participants, even though the cap was set at 5,000 participants on a first-come, first-served basis.

Formerly known as PenPad, this project functions as an auction platform and yield aggregator in partnership with zkEVM Scroll. Pencils Protocol partners with the Scroll ecosystem and currently ranks among the top DeFi platforms on Scroll. Besides yield farming, Pencils Protocol offers staking, liquidity vaults, and has introduced the ‘Pencils’ points system to reward user engagement.

This project is among the top three DeFi farming protocols in the crypto space, with over 459,000 active users. Notably, Pencils Protocol has crossed a crucial threshold, accumulating $300 million in Total Value Locked (TVL). The DAPP token sale has seen overwhelming demand, making it one of the most talked-about projects in the DeFi space.

Several prominent figures and entities in the crypto market have invested in Pencils Protocol, including OKX Ventures, Sandy Peng (co-founder of Scroll), Taisu Ventures, Bing Ventures, DePIN, Black GM Capital, Animoca, Presto Labs, Gate Labs, and others, valuing the company at $80 million post-money. Backed by OKX Ventures and others, Pencils Protocol is also set to be listed on OKX Cryptopedia, further exciting the crypto community about its potential trading opportunities. 

Final thoughts

With past projects like Avalanche, Tezos, Synthetix, and now Pencils Protocol showing exponential gains, Tokensoft continues to attract both seasoned investors and newcomers, helping them navigate the IDO landscape effectively. Ultimately, the right project with huge potential, paired with the right platform, remains the secret recipe for massive gains in IDOs.