Red Kite to Support Conducting IDO for NFT Games and DeFi Projects on Polygon Network

We are thrilled to announce that the Red Kite launchpad will now support Polygon Network and projects developed on this network. We will also hold a new IDO project on the Polygon network very shortly.

Red Kite’s approach from day one is to be a cutting-edge launchpad with distinctive features, including multi-chain support. Alongside Ethereum and Binance Smart Chain, its next major milestone is becoming compatible with Polygon, one of the fastest-growing networks available in the blockchain world. 

This upgrade will allow the Red Kite team to bring many potential IDO projects developed on the Polygon Network to its user community. In addition, Red Kite users can also participate in IDOs with lower gas fees, which could pave the way for more accessible and enhanced token offerings.

Red Kite has received a development grant from Polygon. Thereby, Red Kite will develop features compatible with Polygon Network, and commits to conducting frictionless token offerings for qualified Polygon projects. In comparison to other launchpads, Red Kite provides customized distribution tools that enable projects to vest their tokens in pre-or post-sale offerings. Additionally, Red Kite offers convenient features for IDO participants, including a one-hour refund policy, pre-order service, and a reputation system. As a result, Red Kite will help empower the adoption and growth hack of the next generation dApps built on Polygon.

Polygon will serve as a conduit between its ecosystem’s early-stage projects and the Red Kite launchpad by recommending qualified projects to do IDO on Red Kite. Polygon’s recent surge in popularity as a full-stack scaling solution has been attributed to its ability to tackle several of Ethereum’s current challenges, including high fees, poor user experience, and low transactions per second (TPS). 

Therefore, numerous leading projects in the DeFi space and popular NFT games have chosen to deploy their dApps on Polygon Network. By bringing promising metaverse projects to Red Kite, Polygon will help its dApps gain wider mainstream acceptance and expose the Red Kite community to potential investment opportunities.

Red Kite will organize the first IDO on the Polygon network this August to kick off this partnership. 

About Polygon

Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 450+ Dapps, ~350M txns, and ~13.5M+ unique users.

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About Red Kite

Red Kite is a cutting-edge launchpad powered by PolkaFoundry as a part of the growing $PKF ecosystem. Red Kite projects are carefully chosen through vetting, which takes everything from the origins of the project teams to legitimacy and implementation capacities into account. These projects are also supported by a network of our high-class marketing partners, leading influencers, and interactive communities.

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Source : cryptodaily.io

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