Blockchain technology came, hit the world like a wildfire, with digital assets edging beyond what can be done and achieved with traditional financial instruments.
With trades happening at very high speed, low cost, and with more liquidity to transact with, blockchain is still hitting the world non-stop.
Digital assets are now popping up in many places these days for storing and exchanging value, easy and secured with no need for documents.
There are different digital assets based on blockchain technology, and while some persons are still trying to wrap their heads around the concept of cryptocurrencies, the term “tokens” is now all over the place.
You might probably be wondering if they are the same thing or not, and if not, what is the difference between them.
All these digital assets are been created on various blockchain networks just to harness certain advantages unique to each blockchain network.
Cross-chain is now the new crypto market trend emerging to take advantage of various blockchain networks that are soaring in numbers as new ones are launched now and then.
One new platform in the midst of all these is ETHPad, which gives full access to the cross-chain launches.
Key Takeaways
• ETHPad targets improved chain efficiency and free flow of features and crypto users across multiple blockchains.
• ETHPad token network model is inspired by the latest Ethereum Improvement Proposal.
• The token has inbuilt deflationary triggers that will be more effective than Bitcoin halving.
• ETHPad adopts EIP-1559 new transaction pricing method consisting of two fees: base fee and inclusion fees. This means fewer fees incurred to investors and transactions will be completed faster than before.
• Launching across platforms means a result-oriented staking system and easy liquidity sniping BOT defense.
Now, let’s take a detailed look at what ETHPad Token is all about.
What are Tokens?
The two most common blockchain-based digital assets are cryptocurrencies and tokens. Coins have their standalone blockchain whereas crypto tokens are built on an existing blockchain.
A crypto token is a digital asset that is built on an existing Blockchain. In another sense, you can see a crypto token as a denomination of a cryptocurrency.
Crypto tokens can represent physical assets, like real estate or artworks for example, or a utility or service. For example, some crypto tokens represent assets like real estate and art.
SEE ALSO: Best 10 ERC20 Tokens On the Market
Cross-chain
A cross-chain refers to the ability to interact across two different and independent blockchains. Simply put, it is the interoperability between two or more independent blockchains that allows for the transfer of data and value between different isolated blockchain networks
There are many blockchains out there in the crypto market, each with its unique ecosystem independent and isolated from the other since they are designed for a specific purpose or use.
As different as they are, so are their strengths, weaknesses, and limitations depending on what you have in mind. And since they exist in isolation, one cannot leverage desirable features of one Blockchain on another Blockchain.
Cross-chain technology comes in as the interoperability solution between blockchains. Meaning, you can now overcome the constraints of a single chain and transact across different blockchains without any third-party inclusion.
What is ETHPad?
ETHPad is an IDO (Initial DEX Offering) platform that acts as a crypto launchpad by providing complete access to cross-chain launches.
It is relatively new and claims to be the world’s first IDO platform with inbuilt deflationary and decentralizing triggers on the Ethereum network, having been modeled around Ethereum Improvement Proposal upgrade, EIP-1559.
ETHPad was launched by BlueZilla, the same company responsible for the launch of the BSCPad on the Binance network, TronPad on Tron, and other similar ones.
ETHPad Token
ETHPad coin, with the ticker symbol ETHPAD, is the native token of the ETHPad platform.
With a total maximum supply of 1,000,000,000, ETHPAD Started with an initial market cap of $55,500 and ranks at 2608 on market capitalization. It is available for trading and staking.
ETHPad ‘s deflationary triggers built into the structure come with programmed burning for IDO participation, staking, and selling of the token, to make sure there is a constant reduction in the total supply over time.
The distribution ETHPad token is as follows:
3% of all the tokens will be kept as a reserve
10% will be distributed to the liquidity pool
11% will go to ETHPad team members
6% will be distributed to the advisors
9% to ETHPad ecosystem,
9% to stakes and rewards
22% to Private token Sales
20% to Airdrops will make up 20% of the tokens
5% to Public BSCPad and 5% to Public TronPad.
SEE ALSO: What is an Anti-Whale Mechanism and How to Protect Your Crypto Investment
Frequently Asked Questions
Q1. What is ETHPad Contract Address
The official contract address of ETHPad Token is 0x8dB1D28Ee0d822367aF8d220C0dc7cB6fe9DC442.
Q2. Where Can I Buy ETHPad Token?
You cannot buy ETHPad tokens directly with cash, you need to swap another crypto for it. Currently, you can swap for ETHPad tokens on PanCakeSwap (V2) and Uniswap (V2), or swap your ETHPad tokens, if you have, for other tokens or cryptocurrencies.
1inch is another site where you can buy or sell ETHPad tokens. It allows you to search and compare prices of a cryptocurrency across exchanges that operate on Binance Smart Chain, Polygon, and Ethereum networks.
You can search and swap directly using its native CHI gas token and save time and up to 42% off your gas fees.
Q3. What is the best wallet for ETHPpad Tokens?
Top of our best wallet options for DTHPad tokens is Metamask and Trust wallet. Both are widely supported by exchanges. Trust wallet in particular is built by the largest crypto exchange in the world, Binance, but it is only available now as a mobile version wallet. So choose your best pick depending on what you are working with.
Q4. How do I get an ETHPad token?
• Log in to a desired digital wallet that supports ETHPad and then link it to the exchange platform you want to swap on.
• Add funds to your wallet if there are none and transfer them to the exchange.
• Use ETHPad contract address 0x8dB1D28Ee0d822367aF8d220C0dc7cB6fe9DC442 to search for it on the exchange.
• Enter the number of tokens you want to buy and swap for ETHPad by clicking the swap button.
• Now, transfer back to your wallet and you are done.
Final Thoughts
ETHPad token is the native token of a cross-chain platform whose build-up focuses on enhancing the deflationary mechanism of the network through the use of different deflationary triggers embedded in the staking, selling, and IDO participation.
Existing launchpads on the Ethereum network are vulnerable to sniper bots and other kinds of manipulations. As a result, the ETHPad team focuses on finding ways to control the variables and prevent these downsides to ensure a more seamless and natural process.
So we are looking at a token with a deflationary mechanism that might be more effective than the effect of halving on Bitcoin, meaning a token with a high value in the future.
To reap these future gains, be part of the IDO participation and buy the token from exchanges and be ready to make profits in the future. But you should do some research yourself before deciding if it is worth investing in or not.
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