# Approach

## The Current State of Launchpads

Since the first launchpad was introduced to DeFi in late 2020, there have been a number of new platforms entering the space, each with varying degrees of accessibility and quality. Many launchpads quickly become exclusive due to a high cost of entry and a reliance on private funding, while others struggle to avoid diluted allocation sizes as their community grows. Launchpads are plagued by other issues such as hasty, low-quality project releases that are not ready for launch. To compensate for steep participation costs, users of these launchpads often feel the need to participate in every IDO that comes along, regardless of how they feel about it.

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