It started on the Polygon network, moved to Cardano, and now Binance Chain and Ethereum are joining the ecosystem, a statement from Vent Finance, a decentralized crowdsourcing platform read this Wednesday. The explosive growth of the multi-chain ecosystem over the past year has seen many blockchain projects tap into the idea, and Vent Finance aims to join in its goal to become a full-scale multi-chain IDO launchpad.
Launched in 2021, Vent Finance boasts of the first full-stack multichain initial DEX offering (IDO) platform that makes it easy for project creators to offer token sales and users can participate in compliant early-stage token sales. The interoperability with two of the busiest and largest blockchain ecosystems, Vent will be able to tap into a 4 million user market, opening up new fundraising opportunities for projects on its platform.
Alexander Kunzman, co-founder of Vent Finance shared his thoughts on the growing multi-chain ecosystem, calling for more collaboration rather than the competition across blockchains. The interoperability of blockchains has been a key issue since the genesis of the technology, given that most are siloed in their own network.
“With the vast amount of new web3 projects arising, we realize there is no one perfect solution to meet all blockchain needs,” Kunzman stated. “Instead of portraying the multi-chain ecosystem as competition, the team and I see it as the way to connect every chain that serves a different use case to either improve the end-user experience or allow further innovation. That is why we believe it is the future and the next logical step.”
The latest expansion to BNB and Ethereum offers a collaborative and mutual value addition to all chains involved. New and existing users on Vent Finance will have the opportunity to transact and participate in early-stage token sales and easily switch back and forth to other supported networks. Additionally, the integration of the two blockchains opens up liquidity to other platforms, tapping into an ecosystem with over $7 million in daily value flow.
Kunzman further anticipates that Vent will continue its expansion to other chains such as Moonbeam, Cosmos, and Solana. The date of release of the integration to both chains is unknown.
The success of Vent Finance in the past has been nothing short of amazing. Earlier this month, CryptoRank, a crypto data aggregation and analysis platform, ranked Vent Finance as the highest returning IDO, with over 8.4x return on investment (ROI) in Q1 2022.
— CryptoRank Platform (@CryptoRank_io) April 15, 2022
Currently, the platform sits second in ROI since the turn of the year, with an average ROI of 17x for IDOs during this period. With new blockchains joining the platform, more users and project leaders will have access to decentralized crowdfunding, with liquidity expected to increase as well.
Apart from IDO launches, Vent Finance also facilitates incubation startup projects and helps stimulate the growth of blockchain entrepreneurs by providing projects with all the required resources, including expert guidance on product development, and strategy, as well as access to result-oriented partnerships.