Launchpad

Launchpad - NFT based Smart Contracts Launchpad

NFT-based Smart Contracts Launchpad for XRPL-based Projects

Launchpad is revolutionizing the way XRPL-based projects can raise funds and empowering the XRPL community to be a part of projects they believe in. And all this in a simple and secure way by using NFTs and Smart Contracts(Hooks).

Inspiration

On the one hand, many people in the XRPL community are willing to help projects get started, but they don't have a safe place to do it. On the other hand, so many developers are building the XRPL in their spare time and are making slow progress due to lack of funds. Launchpad aims to solve this problem and thereby accelerate development speed on the XRPL.

What it does

It uses smart contracts (Hooks) and NFTs to provide a secure way to invest in XRPL-based projects. The actual workflow looks like this:

The project applies for funding
- The Hook gets prepared for their needs and installed
- The Project gets published on the Launchpad website
The investor can browse all available projects and their offers
- For example, it shows their name, their LinkedIn profiles, their vision and what they offer to investors
The investor invests in a project of his choice
- He chooses the amount of his investment and sends the required XRP to the smart contract
- In return he gets an NFT that points to an "Ownership Certificate"
If the funding goal is reached within the specified time
- The smart contract sends the total amount to the project's XRP account
If the funding goal is NOT reached within the specified time
- The smart contract sends investors their funds back

Holders of these NFTs are now entitled to all the benefits that the project offers them. And of course, the NFTs can be traded on the open market at any time.

How we built it

It uses Hooks, XRPL.js and Angular.

Challenges we ran into

Minting NFTs and creating "sell offers" and "payments" on Hooks in a fail-safe state while keeping the code fast and secure is quite a challenge.

Accomplishments that we're proud of

Launchpad gives NFTs a real-world use case and increases overall development speed on the XRPL.

What we learned

A lot about Hooks, WASM, low-level C and NFT's on the XRPL. But most importantly, how important the key features of the XRPL – speed, low fees, scalability, … – are in order to provide such services to the masses.