Explore The First Platform For Tokenized Floating Infrastructure: Stead IDO on Spores Launchpad

Spores Network
4 min readFeb 9, 2024

Mark the date for the exciting IDO of the Stead project on Spores Launchpad on Feb 16th!

Stead is an RWA project based in Southeast Asia. It serves as a decentralized funding platform for floating infrastructure, including fishing and transport boats, fish cages, and floating houses. Stead allows the decentralized crowdfunding of floating assets, which serve to collateralize the token, providing real-world returns and mitigating risk to token holders while using the profits of those floating assets to buy back and burn outstanding tokens, leading to a net deflationary token model, all backed by profitable real-world assets.

🔷 Stead Highlights

  • The first platform to tokenize floating infrastructure such as boats, fish cages, and floating houses.
  • A highly experienced team, with core members holding C-level positions for over 7 years and extensive work experience at major tech firms.
  • Collaboration with leading floating infrastructure partner Arkpad, a distinguished Marine Construction Company.
  • Intensive community activities such as airdrops, AMAs, and Ambassador programs.
  • $120,000 liquidity locked on DEX upon listing for a 2-year duration.

🔷 How Stead Works

By selling tickets for the rental or use of seasteads, fishing boats, fish cages, and related properties, the rental income can be pre-minted, demonstrating their profitability.

For example, a business may want to build a seastead (floating house) as an Airbnb in a coastal area. They list details on the Stead dApp, allowing interested parties to buy Stead Tokens. Funds from token sales are used for construction. Once built, the Operator (business collecting funds) must burn Stead Tokens for use. This process applies to any floating asset.

At this stage, the Operator rents the seastead and is not the owner. Stead tokens are pre-sold tickets for property use and must be used up for continued use. The system ensures tokens sold are eventually repurchased and burnt by the Operator, increasing token value over time.

This system provides a digital asset backed by real-world assets, ensuring a baseline value increases relative to the US dollar over time.

🔷 Stead Tokenomic

  • 4,000,000 tokens will be pre-minted to help with the development, liquidity, and early funding of floating assets, they are broken up into these 4 categories:
  • ArkPad will hold 1,800,000 Stead in a slush fund to spend on floating assets, Strategic Partnerships and Investments, Marketing Partnerships, and other expansions to the Stead platform, including the possible development of a DAO to control future governance. 900,000 of these tokens will be available upon deployment of the smart contracts in February 2024, while the remaining 900,000 will be vested into the treasury multi-sig wallet over 2 years.
  • 200,000 Stead will be distributed over 2 years to liquidity farmers. An LP Farm will be available on Stead. Builders pay out 135,000 tokens to LP providers in the first year and 65,000 the following year. This guarantees a minimum amount of liquidity on Arbitrum over the first 2 years and facilitates the trade needed to get our platform off the ground.
  • 2,000,000 Stead will be vested to 3 founders, with 50% being granted at TGE and the remaining 50% over a 2-year emission period.
  • 1,000,000 Stead will be used in Discount sales. These pre-minted tokens will be held in a special wallet away from the other funds and only unlocked during our special discount sales, offering a 20% discount from the standard minting price. After these 1,000,000 Stead run out, no more sales will ever be rerun, offering a discounted price.

🔷 Stead IDO Timeline

  • Vip Round: 16th Feb, 10 AM UTC => 17th Feb, 10 AM UTC
  • Triple Round: 17th Feb, 10 AM UTC => 17th Feb, 11 AM UTC
  • FCFS Round: 17th Feb, 11 AM UTC => 18th Feb, 11 AM UTC

🔷 Stead IDO Details

  • Total Raise: $150,000
  • Token price: $0.7
  • Token symbol: STEAD
  • Network: Arbitrum
  • Total supply: 5,000,000 STEAD
  • Initial Circulating Supply: 1,180,000 STEAD
  • Initial Market Cap: $826,000
  • Token listing: February 21 (DEX)
  • Vesting details: TGE 10.00%, 1m Cliff, 4m Linear Monthly vesting

🔷 How to Join the Stead IDO

Step 1: Register for the IDO. To be eligible for IDO participation, please click this link: https://launchpad.spores.app/ido/stead-ido.

Step 2: Receive Email Confirmation After the whitelist closing time, Spores Network will notify you of your Tier Confirmation at least 12 hours before the sale.

🔷 Stead Core team

🔷 Stead Roadmap

*Stead is under Spores Network’s 24-Hour Secured Feature

Project Official Links:

Website | Discord | Twitter

About Spores

Spores Network is a leading multi-chain launchpad for IDOs and INOs, committed to supporting high-quality web3 projects with comprehensive solutions beyond funding. Join Spores as we revolutionize the world of decentralized finance and empower the next generation of creators and entrepreneurs to achieve their goals.

Join our collective. Tell your story. Share our vision at Spores Official!

Follow us on our Social Media: Twitter | LinkedIn | Facebook | Instagram | YouTube |

Chat with us on Telegram or get updates on Telegram Ann.

--

--

Spores Network

The leading multi-chain launchpad for IDOs and INOs of up-and-coming high quality web3 projects, in which user can seamlessly participate & support the project!