Red Kite and Genpad by Genesis Shards Join Hand to Bring Liquidity to Pre-IDO Projects

We are delighted to expand our partnership with Genesis Shards through the collaboration of Red Kite Launchpad powered by PolkaFoundry and Genpad by Genesis Shards. The aim of this partnership is o advance our mutual goal of bringing more liquidity to early-stage pre-IDO projects, including:

  • Red Kite projects will have access to pre-IDO liquidity on Genesis Shards through Gen Ticket NFTs.
  • Genpad pre-IDOs will have the option to launch their IDOs on Red Kite upstream.

Pre-IDO projects face numerous liquidity challenges, foremost among them the requirement to lock tokens into long vesting periods and liquidity fragmented across many DEXes. Genesis Shard’s Genpad is the first launchpad to offer a pre-IDO launch before the public DEX offering to bring much-needed capital to early-stage projects. The Genpad pre-IDO creates a liquidity vehicle for projects by wrapping fungible tokens into GenTicket NFTs. These pre-IDO NFTs can then be traded on the open market, including NFT marketplaces like OpenSea, and redeemed for project tokens after the IDO.

Red Kite is a state-of-the-art launchpad designed to improve investor access to and participation in IDOs. One way Red Kite is boosting project liquidity is by supporting multi-chains, currently Ethereum and BSC pools, and soon Polkadot. The hand-picked projects on Red Kite can now access pre-IDO liquidity through Genpad GenTicket NFTs.

As part of the Red Kite-Genpad partnership, Genpad IDOs will have the option to conduct their IDO token launch events upstream on Red Kite. Red Kite IDOs benefit from various innovative features, including a swap system and an intelligent reputation point system. Red Kite also offers IDOs access to many multi-chain services and parachain crowd loans as part of the Polkadot multi-chain.

Red Kite has quickly become an in-demand platform for IDOs with several high-profile projects in the pipeline. Now projects will be able to tap pre-IDO liquidity to support the early growth stage, providing the possibility to bring more robust projects to market through IDOs upstream. Participants in IDOs hosted on Red Kite need to hold the $PKF token.

This partnership with Genesis Shards will enable our projects to tap into the unique pre-IDO liquidity market. This partnership adds to our previous partnership & empowers projects on Red Kite to access high-quality resources and support through Genesis Shards’s strategic partner network. We look forward to exploring further areas of collaboration between PolkaFoundry and Genesis Shards”, said Thi Truong, PolkaFoundry Founder & CEO.

Nilotpal Mukherjee, Genesis Shards Co-founder, also stated, “We are glad to have Red kite as an upstream IDO partner for Genshards. Red Kite will be the first IDO platform on Polkadot with flexible pool types and whitelist conditions. Projects launching on Red Kite will be able to tap into Genesis Shards’ pre-IDO liquidity solutions and tap into the growing ecosystem on Genshards platform”.

About Genesis Shards

Genesis Shards is a decentralized ecosystem powered by Polkadot redefining NFTs as DeFi options, creating a permissionless environment of interchain liquidity for pre-IDO tokens. By wrapping time-locked fungible tokens into NFTs, Genesis Shards is creating a new marketplace for previously illiquid tokens.

About Red Kite

Red Kite, part of the PolkaFoundry ecosystem, is a launchpad designed with distinctive features to host hand-picked, fully-vetted projects. Capital-raising efforts are supported by a network of tier-1 marketing partners, top influencers, and communities, a robust vetting process, and easier investor access at a lower price. Features include multi-chain support, parachain crowd loans, a lane-based swap system, and an intelligent reputation point system.

About PolkaFoundry

PolkaFoundry is a platform for building borderless and frictionless DeFi & NFT dapps on Polkadot. It aims to be the one-stop production hub for DeFi & NFT dapps with all the necessary features, services, integrations, and tools for DeFi experiments, innovations, and real-world solutions. Taking advantage of Polkadot’s interoperability and scalability and integrating many DeFi-friendly services into the platform, PolkaFoundry also provides UX-enabling features that make dapps as easy to use as everyday applications and bring dapps to the masses.