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Since its inception, the crypto industry has boomed a great deal and is still yielding positively to crypto users as retail and institutional investors continue to venture massively into the crypto market. However, it is quite unfortunate that even malicious actors who seek to rip people off their funds are not relenting as the rate of fraudulent operations continues to rise in massive correspondence with the booming market.
This has been a great challenge to the crypto space and developers are initiating new projects to help investors protect their funds from the risk of losing them to malicious operators and other factors that might sour the fate of their investments.
Since IDOs are common avenues at which investors often lose their funds, FLy, a DeFi platform with a major focus on securing the interest of crypto investors, is seeking to provide crypto users with protection within the volatile space of DeFi investing.
FLy Builds Launchpad to Curtail IDOs Risks
In a bid to keep the community of investors in profit, FLy announced the debut of its Launchpad, providing users with the opportunity to invest in high-quality projects with good conditions, like pre-seed and seed institutional rounds.
 
 
The launchpad provides a full fundraising service, starting from advisory to post-listing, marketing, and market-making support for crypto startups to ensure that the interests of investors are protected.
The platform understands that IDOs can be risky for investors, hence it has decided to provide investors with a trustworthy platform that ensures maximum benefits for its community of investors and protects its customers.
The FLy team stated an example with a previous encounter, explaining how the platform had previously saved investors from losing their funds to a failing IDO program hosted on its Launchpad a few months ago.
“….on August 5th, 2021, a project called CFL365.Finance had an IDO for its token on the FLy Launchpad platform. The IDO was fully deposited within 30 minutes of starting and closed with a gained deposited amount double of what was necessary. But unfortunately, the $CFL365 token performance didn’t suit the risk management profile. FLy stopped the token distribution to ensure the FLy community from losses, all USDT tokens that took part in the IDO were unlocked.”
The team further revealed that the participants were later rewarded with airdrops in $CFL365 tokens for free according to the FLy token amounts in their wallets. Thus, the team ensures users of a safe and risk-free Launchpad as the team doesn’t leave their community without refunds in case of poor project performance.
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