Lithium Ventures, an innovative Ecosystem, launched in April 2021, aims to promote the development of new Web3 projects. The Imperial Blockchain Group, formed by one of the world’s best universities, Imperial College, collaborates on the Lithium project. Lithium Ventures will collaborate with the blockchain group to organize events and will also assist Imperial students in launching innovative Web3 projects by providing resources.
Rug pulls and scams have been a major problem in the cryptocurrency space. According to Coindesk, crypto investors lost more than $2.8 billion to rug pulls, and rug pulls accounted for 37 percent of crypto scams in 2021, a significant increase from 1 percent in 2020. Rug pulls and other crypto scams are preventing cryptocurrency and Web3 from becoming more widely adopted around the world.
Bad actors in the cryptocurrency space are exploiting the concept of decentralization by posing as anonymous founders and taking money from investors without actually building anything. Several decentralized launchpads are teeming with fraudulent projects, sometimes as a result of insufficient background checks and validation on the team involved.
Lithium was able to address these issues with Launchpads by focusing on high-quality, KYC-ed teams with proven track records—all with the goal of putting capital in the hands of incredible teams working on real-world problems. Lithium Venture Capital provides financial support and guidance to innovative Web3 teams through their Launchpad and Incubator, while also assisting investors to earn more money.
The Cross-chain Launchpad at Lithium has overseen ten successful IDOs with an 80 percent oversubscription rate. The Launchpad assists Web3 projects in attracting committed and passionate investors for their community. Investors have the opportunity to be early adopters of high-potential cryptocurrency projects.
Lithium Ventures carefully vets and validates the projects chosen to do IDO on its Launchpad in order to reduce the likelihood of scams and rug pulls and, as a result, protect investors. By implementing verification mechanisms, the Launchpad protects its community from bad actors who use bots to grab all of the Whitelist allocations. The Launchpad also contributes to its community by offering non-lottery airdrops. The cross-chain Launchpad is also available on BSC, Solana, and Avax.
Projects that used Lithium’s Launchpad for their IDO received not only access to investor liquidity, but also pre and post IDO support, marketing strategies, community growth, KYC checks, brand development, and Code auditing.
$EBSC, the native token of Lithium’s ecosystem, is a utility token that is used to reward people simply for having the token in their wallet via yield tokenomics. Investors can earn passive income by staking $EBSC, and they can also gain access to cool ecosystem features such as access to IDOs, airdrops, and votes on community governance.
Lithium’s collaboration with Imperial Blockchain Group will aid in the ad hoc utilization of Imperial’s talent pool. The Lithium Ecosystem appears to be well-positioned to provide resources and support to Next-Generation Web3 projects, and its collaboration with IMG would aid in this endeavor.