NearPad
DeFi hub for token distribution and management.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
$2.5m | Seed | ||
| Total Funding | 000k | ||
NearPad, which rebranded to Pad.fi, operates as a decentralized finance (DeFi) hub on the NEAR ecosystem, designed to launch and manage digital assets. Established in 2021, the platform functions as a launchpad for new crypto projects, a DEX (Decentralized Exchange) Aggregator, and a Yield Aggregator. The company's primary service is to provide a platform for startups to conduct crowdfunding through token sales, known as Initial DEX Offerings (IDOs), giving the community access to vetted opportunities.
In August 2021, NearPad announced the close of a $2 million seed funding round with participation from investors like NGC, NEAR Foundation, OWC, and LD Capital to develop its DAO-led DeFi hub on Aurora, an Ethereum Virtual Machine (EVM) created by the NEAR Protocol team. The platform was initially named NearPad to align with the NEAR ecosystem but rebranded to Pad.fi in April 2022 to reflect its broader offerings beyond just a launchpad service and to unify its product interface. The platform aims to solve issues like liquidity fragmentation by allowing users to find the best token swap rates across various decentralized exchanges through its DEX aggregator. For token holders, Pad.fi offers yield farming opportunities, where they can stake their assets to earn returns. To participate in token launch events, users are required to stake PAD tokens, with a tiered system that offers different allocation multipliers based on the amount staked.
The project is DAO-led, giving the community control over the treasury and public funds. Its native token, PAD, is central to the ecosystem, used for staking, governance, and earning protocol fees. The business model involves generating fees from its launchpad, DEX, and yield aggregation services, which are then used to buy back and burn PAD tokens, potentially increasing the token's value. Despite its initial plans and developments, the platform has been marked as inactive on some tracking sites, with its website no longer accessible, although historical data is preserved.
Keywords: Decentralized Finance, Launchpad, DEX Aggregator, Yield Aggregator, NEAR Protocol, Aurora, Token Staking, Crowdfunding, IDO Platform, DAO, PAD token, DeFi Hub, Crypto Asset Management, Liquidity Pools, Yield Farming, Token Swaps, Blockchain, Cryptocurrency Exchange, Digital Assets, Web 3.0