Introduction to BinStarter
IDO Launch Platform on Binance Smart Chain
BinStarter is a decentralized insurance protocol which has a mining-style approval mechanism that brings together projects and liquidity providers. This insurance is designed to examine the projects according to certain criteria for 30 days and to protect liquidity providers from possible damages against any negativities that may occur.
BinStarter has a different working structure than other platforms that provide solutions for IDO. Although BinStarter is considered as a decentralized structure, it is actually subject to approval with an "evaluation pool" and number of protocols
It works in a structure similar to the mining system in bitcoin, inspired by the blockchain approval mechanism. So, what is the advantage of this structure?
In decentralized structures, the control mechanisms are still not at a sufficient level, so project owners or liquidity providers may be damaged due to various reasons. We can summarize the most common problems as follows;
1.Software Errors
Project owners sometimes encounter various problems while collecting funds due to the mistakes of their own software developers or 3rd party API services;
- Site crash and data loss as a result of overloading
- Instant changes in token sale price due to price volatility
- Theft of funds by malicious people in the project
- Errors caused by 3rd party organizations
- The promised software does not work
2. Fund and Token Related Errors
- Failure to adhere to the disclosed token distribution
- Raising funds outside the supply-demand balance
- Incorrect planning of the token inflation process
- Incorrect planning of the private sale process
3. Cases Arising from People
- Project owners acting out of purpose
- Acting out of purpose by the people in the project
4. Cases Originating from Investors
- Overselling of users with large amounts of coins / tokens
5.Exchange Based Cases
- Inflation processes due to stock exchange agreements
- Fake volume and price applications
Unfortunately, as a result of these and other reasons, the growth rate of the ecosystem can be negatively affected. Even in very professional and highly demanded projects, we can often encounter the above results. BinStarter, which has an insurance protocol that protects liquidity providers from possible fraud cases and an approval mechanism such as an "evaluation pool", has been developed to provide the clearest solution to this issue, without fundraising concerns of project owners.
Last modified 1yr ago