Our idea is to create an all-in-one tool that allows founders to create and launch their tokens quickly and at very low cost so that they can simplify the fundraising process on the Theta Network.
What it does 💣
Theta-Launcher is an all-in-one DEX to help you raise funds for your next project! On top of this DEX, we have integrated:
- a TNT-20 token factory.
- an IDO (Initial Dex Offering) tool to help founders kickstart their projects.
After creating their token from the Theta Launcher interface, founders can use the IDO tool to launch their IDO. During the IDO, early investors can send TFuel to the campaign. Once the IDO campaign has ended, the funds raised in the campaign and the TNT-20 tokens will be automatically used to generate a liquidity pool in the exchange. The early investors will be compensated with a portion of the TNT-20 locked in the IDO campaign. Founders of the IDO campaign will be entitled to the liquidity tokens of the DEX liquidity pool.
When the IDO period is over, how is the initial TNT-20 price calculated?
This is the formula used to calculate the price once the IDO period is over:
How we built it 🛠️
The great power of EVM networks is that the code of one network can be used to create an ecosystem on another. The world of the blockchain is a transparent world where everything is visible to everyone, from the source code to the content of each block. In a world where all code is public, it makes no sense to rewrite the code from 0 every time. It makes much more sense to reuse code written by others and build our work on the work of those who came before us, improving on what already exists through iteration. In such a world, forking someone else's code and being able to understand it is a very important prerequisite for working in a similar context.
“If I have seen further it is by standing on the shoulders of Giants” Sir. Isaac Newton
We decided not to start our project from scratch, but to fork an already existing, well-known, and battle-tested project, Sushiswap. We started working on this project before the Theta Hackathon. When we found this hackathon, we decided to try to deploy the project on the Theta network and join the hackathon. To do this, it was necessary to adapt the interface and the smart contracts to the new addresses obtained from the deployment. However, the process was very smooth. After the migration of Sushiswap, we created the new smart contracts that allowed us to manage the token factory and the IDOs. Once the contracts were created, we updated the interface, removing as many features as possible to make it as clean and simple as possible, respecting the KISS logic. Then we introduced the interfaces that allow you to interact with our initially deployed contracts.
Challenges we ran into ⚡
A difficult part of the project was finding a list of TNT-20 tokens in JSON format similar to those found in other EVM networks. Unfortunately, we were not able to find this list. The solution we found was to create this list ourselves, but we have postponed this functionality until after the hackathon as it would not add much value at this time.
Accomplishments that we're proud of 💪
Reading the codebases developed by other people is not always easy and requires a lot of debugging. We are happy to have succeeded in this.
What we learned 🤯
This was one of my first hackathons in the web3 world, I didn't have much knowledge about this application domain. Using these technologies allowed me to better understand the dynamics behind this world. I also got to know more about the Theta network, which I had heard of but had never worked with before. Finally, I was able to practice with presentations, a topic usually underestimated by us developers but which is very important when you start interacting with the world :)
What's next for Theta Launcher 🔥
- Among the first things to do after the hackathon, we will have to start inserting costs for the generation and deployment of IDO campaigns, to make the project financially independent.
- After fixing the codebase, we will want to deploy our product into production.
- Last but not least, start organically growing our users to be able to become a valid alternative to the DEXs present on BSC.