Since early this year, we have witnessed Tezos’s DeFi sector grow into existence. We have seen projects come and go, each one supplying a building block for the next. Through hard work and many hours of thinking, discussing, and building many have solidified a place amongst the “OGs” of Tezos DeFi.
Now however, we need to think long term. What do we do to give Tezos and our product the best chance to succeed? What is the next best step to make when we are in the Golden Age of building on the Tezos blockchain? There are most likely several answers to this, but the basis of each one of those begins with a strong team and like-minded ambitions. As Rocket Launchpad, we have seen some huge moments of success, and have worked hard to be a frontrunner IDO platform on Tezos.
We want to continue that success, and we have thought hard about the next move to ensure it benefits users, Tezos DeFi, platform growth and influence. We realized a key piece that was slowing us down, not only as Rocket Launchpad, but for Crunchy Network as well. We were spreading ourselves thin and even building duplicate services by having two major platforms working together, but separately at the same time. This we feel was our biggest hindrance and feel that by combining the efforts of both projects we could realize a whole new level of potential.
That is why we have decided…to combine the Rocket Launchpad and Crunchy.network platforms under the Crunchy name!
Why Combine the Two Projects?
Simply put, this is an amazing opportunity to truly create a DeFi hub for Tezos.
Utilizing blockchain products can be mentally exhausting. With Rocket Launchpad, we created a simple interface to stake $RCKT and then participate in IDOs/IFOs. From there, users would have to go to Crunchy.network in order to see locked liquidity as well as to farm. This got us thinking…wouldn’t it be nice if you could utilize one product to do everything?
Also with managing two projects, we were spreading ourselves too thin and we were noticing certain features were lacking or taking too long to build out. Combining teams to work full time on one major platform will ensure Crunchy can iterate quickly and we are excited about future, unannounced, products we have lined up.
With this change, there is bound to be some curiosity, confusion and possible frustration. We want to assure everyone this decision was not taken in haste and has been something that has been discussed continuously. This merger is not due to any other reason than to fully capitalize on an opportunity that will propel the launchpad services as well as the DeFi-as-a-Service (DaaS) platform on Crunchy. The ambitions of Rocket stay the same and the focus of the Rocket team will be primarily the launchpad portion of Crunchy, but we will now be able to promote many other aspects such as the farms, pie slicer and deep freezer.
What Does This Mean For Rocket Launchpad?
With this move all $RCKT and $rkDAO services will be suspended and terminated on the Rocket Launchpad site, and will be transitioned over to Crunchy.network. Crunchy is effectively absorbing Rocket Launchpad. All of the same services Rocket provided will still be available on Crunchy. All services now under one platform. Here is the rundown on how the transition will happen:
- $RCKT and $rkDAO currently in circulation will be swapped to the $CRUNCH token at a determined rate equal to the current value of $RCKT and $rkDAO a user holds, plus an additional 10%. You can start swapping your $RCKT and $rkDAO on Crunchy. A snapshot was taken before the official announcement for price capture. DO NOT SELL YOUR $RCKT AND $rkDAO! Well, you can but it would make no sense as you are getting more value by swapping to CRUNCH. You will have 45 days to complete the swap to the $CRUNCH token, and we will provide guidance on how to do this. Swapping runs until 27 November 2021 at 2000 EST.
- The Rocket brand will dissolve, and all relations will be made to the Crunchy brand. The site, smart contracts and all other aspects will be removed and all resources will be pooled with Crunchy.
- Once $RCKT liquidity unlocks, the funds will be removed and sent to the token launch funding pool for Crunchy.
- All $RCKT in the developer and community incentives pool will be burned and not converted to $CRUNCH. The only $RCKT that will be converted to $CRUNCH is the current RCKT circulating amongst users.
- To absorb any sell pressure from the increase in $CRUNCH circulating, starting October 21st we are creating two farms valued at $100,000! $CRUNCH/$kUSD farm for 3 months valued at $50K USD as well as a $CRUNCH/$WTZ farm for 3 months valued at $50K USD.
Now that our two teams are combined, we now have a focused effort. The Rocket team and launchpad service will be transitioning over to operate on Crunchy. This move strengthens the Crunchy and Rocket team by combining under the Crunchy.network platform. Here are our thoughts on the move…
Resources: With two platforms combining to one, we now can focus our time, funding and efforts on expanding on ideas we have had as a team, but just haven’t had the time and resources to accomplish this.
Utility: With Rocket Launchpad, we saw that there was a lot of opportunity for utility expansion for $RCKT and $rkDAO, and much of that resided/was designed to reside on Crunchy resources. With the launchpad now being built into Crunchy, we mitigate having too many tokens that do the same thing. By moving to the $CRUNCH token, we further expand its use case to give launchpad users more options outside of just using the launchpad services. $CRUNCH is the utility token for Crunchy.network, and will give users more utility options in between IDOs and IFOs.
Userbase: Crunchy currently has 2450 wallets actively farming. Rocket Launchpad has had over 800 unique addresses participate in IDOs. Users will now have a central location to participate in IFOs, farm, check out the Deep Freezer and fractionalize NFTs.
Team Consolidation: With the Rocket x Crunchy merge, all team efforts now go to one platform. With the Crunchy DeFi-as-a-Service (DaaS) model, we can now continue to expand that aspect and add additional support resources to continue that growth by brainstorming, testing, creating and marketing not only one Tezos application, but numerous under the DaaS model. Here is the team:
Josh D: Crunchy Founder/Smart Contract Developer/Product Lead
Frank Kirk: Product Designer/Product Lead
Josh V: Community Manager/Marketing
Colin Cooley: Marketing Manager/Community
Andrew Algard: Front-End Developer/Back-End Developer
Melvin Kosisochukwu: Front/Back-End Developer
Initial Farm Offerings: We are going to be transitioning to an IFO-only based launchpad. This format doesn’t have country limitations and therefore allows all users to participate. With the Crunchy and Rocket user base utilizing one simple platform there will be much more exposure for the service.
There are already several new ideas being built even as we write this article, and we can’t wait to continue to provide more use for $CRUNCH to give our $RCKT and $rkDAO users a transition into something bigger and better than before.
The Plan: Short Term
With the transition over to $CRUNCH, it probably sounds a little overwhelming, but don’t stress, we built each part of this transition with $RCKT AND $CRUNCH holders in mind. Let’s take a look at the short term takeaways from this…
- You will get a 10% valuation increase based on your current $RCKT and $rkDAO holdings with the swap
- We are creating a $CRUNCH/$kUSD farm for 3 months valued at $50K USD
- We are creating a $CRUNCH/$WTZ farm for 3 months valued at $50K USD
- $CRUNCH token is the key piece that makes the entire Crunch platform operate. You are gaining an instant increase in utility with this transition
- Pixel POTUS is very excited to launch on the Crunchy Launchpad utilizing our IFO services. We also are still in talks with other projects and lining them up as we build the transition.
- We are working a $CRUNCH burn method into our IFO process. For each IFO, a percentage of $CRUNCH will be burned once the launching project’s raise-goal is met, thus causing $CRUNCH to become deflationary.
- We are in the middle of building and releasing some exciting new features on the Crunchy platform that will be fueled by the $CRUNCH token.
- We have already started pursuing exchange listings and have learned a great deal about the process from doing it with $RCKT. That is one of our top priorities is to get $CRUNCH listed on CoinGecko, CMC and a reputable CEX as soon as possible.
To wrap this up we always like to thank our users, supporters and OG’s for being here to help build this out. We know that without your help and support we would have never made it this far, and we are excited to transition this journey into something even better than before. We can’t wait to tap into all the additional resources we now have with the merger, and we hope to see you there Rocketeers!