How Can MultiversX Attract New Users Unfamiliar With Our Ecosystem?
To drive user growth and expand our ecosystem, we propose making XLaunchpad multi-chain.
This strategy would attract and introduce users from other blockchain ecosystems (such as Solana, Sui, or Ethereum) to MultiversX, fostering organic adoption and increasing engagement with our products.
Why Is This Necessary?
Currently, we are seeing a recycling of the same user base rather than true expansion.
For instance, 90% of participants in the first Holoride launchpad were the same users who participated in the last one (Pell). This indicates a lack of fresh adoption, which limits growth and network effects.
By enabling multi-chain participation, we open the doors to new investors, developers, and communities, increasing the visibility and utility of the MultiversX ecosystem.
How Can This Be Implemented?
A multi-chain XLaunchpad can be integrated with XPortal, ensuring a seamless onboarding experience for new users.
For example, let’s take a project from the Sui or Solana ecosystem that wants to raise funds.
The project would already have an established community, a solid use case (like Pell), and a demand for funding.
Instead of limiting participation to existing MultiversX users, XLaunchpad can allow users from Sui or Solana to join while introducing them to EGLD, XPortal, and other ecosystem utilities.
Process for Multi-Chain XLaunchpad Participation
- User Onboarding via XPortal
New users from other chains would need to register via XPortal for KYC verification and ticket purchases.
This ensures they get familiar with XPortal, EGLD, and our ecosystem, increasing adoption.
- Project Selection Criteria
Each project can negotiate its conditions and criteria for launch.
Projects should have an existing community, proven use cases, and strong fundamentals to be eligible.
- XLaunchpad selection criteria
Collaboration with MVX ecosystem projects like Hatom (e.g., requiring users to buy ticket with USH).
Using of XMoney stablecoins (if available) for participation to buy tickets.
The ideas are endless the community can suggest criterias
Why Staking EGLD Might Not Be the Best Option?
While staking EGLD has been a traditional approach, it may not be suitable for users unfamiliar with the MultiversX ecosystem.
Expecting new entrants to stake EGLD before understanding the platform could create friction and limit adoption. Instead, a more flexible multi-chain approach would lower entry barriers and encourage broader participation.
Conclusion
A multi-chain XLaunchpad is a powerful way to attract fresh users, expand our community, and strengthen the MultiversX ecosystem. By leveraging XPortal for onboarding and integrating various participation mechanisms, we can make XLaunchpad the go-to platform for high-quality crypto fundraising, benefiting both new and existing users.
This initiative will lead to greater liquidity, increased EGLD adoption, and a stronger MultiversX network effect.