The Launchpad Protocol for Berachain
At Ramen, powering liquidity for long-tail assets has always been our mission from day one. This mission begins with building a Berachain-native token launchpad protocol that fulfils the following objectives:
- For the protocol developers & builders: Providing a comprehensive toolkit and solution that ensures equitable token distribution and enables transparent price discovery among active users in the ecosystem
- For users: Establishing a fair and decentralized allocation distribution system, ensuring that access to token launches of promising new protocols are available to all, not just the whales
- For the ecosystem: Building a protocol that creates net positive expected value (EV) by making liquidity more sticky for our partners and the entire Berachain ecosystem
This vision drove us to develop a unique launchpad protocol tailored to serve the Berachain ecosystem; a modular product that acts as a foundational building block that powers liquidity bootstrapping, one that works with all liquidity hubs on Berachain.
We are thrilled to unveil this strategic refocusing of the development of Ramen Launchpad as our primary offering and core product.
This decision, made after thorough deliberation, is driven by our conviction that the potential presented by this infrastructure will advance the protocol towards more opportunities for positive collaborations with all liquidity hubs and serve new protocols better as an impartial conduit and bridge to the ecosystem.
In the spirit of transparency, particularly to our community members and partners, this represents a strategic pivot in our product direction and we will not pursue the development of Ramen DEX as part of this new focus.
So how will Ramen work?
On Ramen Launchpad, users will be able to lock $RAMEN tokens for a maximum of 16 weeks and receive gRAMEN tokens (Governance RAMEN), an on-chain, non-transferable token.
The amount of gRAMEN tokens you hold will determine the base earn rate of allocation points, which can be spent to reserve allocation tickets to new launches.
The mechanisms, tokenomics, and user guides are provided in detail in our refreshed documentation.
Curated by Ramen
Select protocols will be executing their Token Generation Events (TGE) on Ramen.
With the help of esteemed independent community curators, such as The Honey Jar, Standard & Paws, and other notable partners, we ensure a meticulous and objective vetting process that will evaluate crucial aspects of the participating protocols, including the core teams’ prior experience, reputation, track record, and the audit results of their protocols.
The outcomes and assessments derived from this process will be openly shared with Ramen users. Moving forward, we will explore the opportunity to expand the independent curator set to include more credible partners and individuals.
Protocols that successfully navigate the comprehensive vetting process will be featured as a Curated Launch on Ramen . These selected protocols will be directly introduced to the Ramen community through a series of sharing sessions hosted on Discord, designed to provide the community with a thorough understanding of each protocol and fostering a connection that we believe will translate into long-term engagement and loyalty.
Fixed Price Mode
The Fixed Price Mode offers a familiar and straightforward token launch format to protocols and users: Participating protocols determine a fixed token price (therefore, implied fully diluted valuation) to launch their tokens at.
To ensure fairness in allocation distribution and to offer sybil resistance, Gacha is used to enter into allocation lotteries. This is how it works:
- Launchpad event participants lock $RAMEN for gRAMEN
- Holding gRAMEN gives participants Gacha linearly throughout the entire duration; the more gRAMEN you hold, the more Gacha you get
- For any Fixed Price Launches, you can enter as many Gacha as you want into the lottery; the more Gacha you enter, the more likely you will win one or more allocation tickets (each allocation ticket gives you a fixed allocation cap i.e. 300 $BERA)
- Each unique wallet can only win up to a maximum of 10 allocation tickets, regardless of the amount of Gacha you enter
Fixed Price Mode offers several different phases:
- Private Sale round: Whitelisted wallets receive a guaranteed fixed allocation without the need for gRAMEN or Gacha. Balance allocation unfilled in this phase will be moved to the Overflow round.
- Gacha round: Only wallets with allocation tickets will be able to contribute in this round. Balance allocation unfilled in this phase will be moved to the Overflow round.
- Overflow round: This round is open to all whitelisted wallets and all participants who have registered for the Gacha round, regardless if they have won allocation tickets. This round is first-come-first-served, with an increased allocation cap, until all the tokens allocated are sold out, or until the 2-hour window is expired.
Price Discovery Mode
Powered by Axis’ Sealed Bid Auction mechanism, the Price Discovery Mode facilitate organic and transparent on-chain price discovery, while providing unparalleled accessibility to all participants, allowing anyone to freely acquire tokens without lock-ups and vesting schedules.
Sealed-Bid Auctions offer a fairer and more reliable price discovery solution. Since all bids are encrypted, participants can place their orders without the fear of being outbid or sniped right before the auction ends. If their bid is successful, they get to acquire tokens at the most equitable price, thanks to the auction’s structured settlement process.
Deriving the optimal participation strategy is straightforward. As a participant, you first determine the highest price (and implied valuation) you are willing to pay for the tokens. There are two possible outcomes:
- Successful bid (Bid is above settlement price): You acquired more tokens at a price lower than your initial bid, which is a favorable outcome.
- Unsuccessful bid (Bid is below settlement price): You avoided overpaying for what you perceive as an overvalued deal, ensuring you don’t experience buyer’s remorse, which is also a favorable outcome.
Furthermore, unlike Liquidity Bootstrapping Pools (LBPs) where success often hinges on entering at the optimal moment, Sealed-Bid Auctions eliminate the timing-driven uncertainties. All winning bids placed before the auction closes are settled at the same uniform price, regardless of when the bid was placed. This ensures fairness for all participants, regardless of their timing.
This strategic refocusing denotes a new and exciting beginning for Ramen as our path towards product-market fit and solving a crucial ecosystem need becomes increasingly clearer.
Questions? Send us a ticket on our server, or join us for our upcoming Office Hour community call where we share more about our progress and answer your burning questions.
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