A Deep Dive Into: Solstarter

Everything You Need to Know About Solana In Under 5 Minutes

What is Solstarter?

Solstarter aims to drive adoption of the Solana ecosystem, by supporting the incubation and funding of future projects that are built on Solana. 

Solstarter aims to be the premiere IDO platform that allows projects to fundraise in a fair, trustless and decentralized way.

The Problems

Issues With ICOs & IEOs

Historically, investments have been made through an Initial Coin Offering (ICOs), where interested investors could buy into an offering and receive tokens. These were hosted on

As of late, we’ve also seen Initial Exchange Offerings (IEOs) provide an alternative to ICOs, where an exchange oversees the token sale.

However, this does not solve the issue of centralization. Both ICOs and IEOs are subject to malicious third party influencers. They are also susceptible to hackers and human error, and lack privacy for the user.

Fundraising On Ethereum Is Expensive & Unreliable

We’ve seen a slew of launchpads make headway in 2021, most of which have built their foundation on the Ethereum network.

Ethereum’s current inability to scale has led to investors having to pay large amounts of money in fees to simply participate in an IDO, with many of these transactions often failing due to congestion.

This has led to fundraisers becoming cost-prohibitive and unreliable to participate in.

The SOLutions

Solstarter is essentially building a platform that is equitable as well as fair for everyone, and still rewarding to the token holders. Solstarter creates fair, decentralized liquidity raises through a tri-round system, and this makes a tier-based guarantee to interested participants that is based on the quantity of Solstarter tokens they own.

Fair Distribution

With the IDO fundraising approach, companies, especially startups, don’t need a centralized exchange and permission to kickoff the fundraising event. Also, anyone can organize or participate in IDO, not just private investors.

Guaranteed Allocations

Bot sniping can be controlled via IDOs. Allocations are conducted fairly, based on the tiered auction system implemented by Solstarter. By conducting it on a DEX, token buyers and holders’ coins are instantly secured via their wallet and private keys.

Fully Decentralized

Solstarter is governed by a DAO, and this determines the future of Solstarter as well as the pricing of tiers for pools. There are big aspirations for the future, and the community is welcome to help democratize the fundraising process in Solstarter.

Powered By Solana

As Solstarter is built on Solana, it can deliver lightning-fast and low-cost transactions. The Solana network itself is able to process transactions at a cost that is one million times cheaper when compared to Ethereum.

When we compare it to Ethereum 2.0, which delivers between 2000 to 3000 transactions per second (TPS), Solana can deliver 60,000 TPS at its peak.

Tiered Systems

Solstarter has four tiers.

This tier-based system is used to determine the guaranteed allocation in regard to each participant within a pool. It is fair, simple, and the amount of SOS tokens a holder has staked can determine the pool weight of allocation for a given participant.

These four tiers are:

  • Tier 1 – Moon – 7% Pool Weight – 5000 Staked SOS
  • Tier 2 – Planet – 15% Pool Weight – 9000 Staked SOS
  • Tier 3 – Red Giant – 28% Pool Weight – 16000 Staked SOS
  • Tier 4 – Supernova – 50% Pool Weight – 25000 Staked SOS

The SOS Token

Solstarter has a tier system that Is used to determine the guaranteed allocation for each participant in a pool. The amount of SOS tokens staked determines the pool weight of allocation for a participant. 

The main utility of the SOS token is to be able to participate in new IDO sales on the Solstarter platform through staking tokens.

Any participant can gain access to a project’s fundraiser by accumulating and staking SOS tokens.

The SOS token can be used to participate in the Solana DAO. The Solana Decentralized Autonomous Organization (DAO) will allow members to control the future of the platform through iterating key aspects of Solstarter, such as the pool weight proportion, additional utility given out to higher-tiered members, the minimum staking period that is required to participate in the new IDO’s and any other aspect that is voted upon.

The Solstarter Core Team

The core team consists of the following people:

  • Roy Blackstone (CEO) – Founder of Mirana Rentals, Globalhalo.
  • Koroush AK (CMO) – Founder of Market Mediations, CEO at Koroush AK.
  • Sergii Ropchan (CTO) – Co-Founder/CTO at Everstake, CTO at Attic Lab.
  • Zhi Ko (COO) – Co-Founder and CEO of Coindust, CEO of NekozTek.
  • Yurii Savchenko (Senior Developer) – CTO at Attic Lab, CTO at APYSwap.
  • Vadim Grozinok (Senior Developer) – Blockchain developer at Attic Lab, former Blockchain Developer at Blaize.
  • Vit Parkhomenko (Project Manager) – Formerly worked at Everstake.
  • Yuriy Kashnikov (Technical Counsel) – Technical Lead at Bering Waters Tech, CTO at Ubik Group.

Investors & Partners

As the time of writing, Solstarter’s partners include:

  • The Solana Foundation – they have provided Solstarter a Solana Grant, which is a competitive grant awarded to Solana projects based on the quality of a project’s team, vision, execution, and community involvement.
  • LINKPAD VC – a venture capital fund aimed to maximize the value provided to their portfolio companies.

Funding Rounds

In the spirit of being community-first, Solstarter will allocate nearly half of all of the total token supply to the community through a Public IDO, Initial Market Fund, Staking Rewards, and the Ecosystem Fund.

15% of the tokens will be sold through vested seed & private sales, which will be done through strategic partners in order to help fund the development as well as the growth of Solstarter and connect the platform with high-quality projects for future IDOs.

The other tokens will be used for development, marketing, advisors, and team allocations. 

Token Release & Distribution

An important part of any project is the token distribution, as this can create incentive structures for the long-term growth of the platform. 

CategoryPrice% of TotalToken CountFunds RaisedVesting/Purpose
Seed$0.107.5%7,500,000$750,0005% TGE, 5% Monthly After
Private$0.137.5%7,500,000$975,00015% TGE,, 5% Monthly After
Public IDO$0.1510%10,000,000$1,500,000100% Unlocked
Initial Market Fund10%10,000,000Liquidity Provisional
Partnerships Advisors10%10,000,0001 Year Locked, 8.33% Monthly After
Staking10%10,000,000Community Rewards Emitted Over 5 Years
Marketing20%20,000,0005% Monthly
Ecosystem Fund15%15,000,0004% Monthly
Team10%10,000,0001 Year Locked, 8.33% Monthly After
Total100%100,000,000$3,225,000

Security Audits

The Solstarter team states they have several auditing partners as well as firms in the pipeline that are signed to secure the dApp, and they have reserved the full information on which firms these are for a future date. We’ll update this as more info becomes available.

Roadmap

Q2 2021Q3 2021Q4 2021Q1 2022
Receive Solana Foundation GrantSolstarter DAOEcosystem PartnershipsMulti-Chain Sales
MVP ReleaseOTC Trusted SwapsFurther Team ExpansionNFT Auction protocol
Curated Pools LaunchSolstarter Vesting ContractsLBP Model SalesMore To Come…

In addition to the key events above, they are also planning the following:

  • A DAO that will be used for any governance decisions that regard the token mechanisms as well as the treasury spending.
  • OTC Trusted Swaps Functionality in order to allow institutions as well as individuals to make trusted escrowed transactions on the Solana blockchain.
  • Liquidity tracking tools on the Solana chain that will allow users to verify how much of a project’s liquidity is locked for and the time period for which it is locked.
  • Expansion to other blockchains that need legitimacy as well as high-quality projects.

Competition 

Similar projects to Solstarter include:

  • Polkastarter
  • Binance Launchpad
  • Paid Ignition
  • TrustSwap
  • Duck DAO
  • Card Starter

Wrapping Up 

Solstarter is a platform that aims to disrupt the way everyday investors enter as well as participate in the DeFi ecosystem. It has a team focused on success, with future plans which are broad and involve the development of additional features for next-gen Solana projects.

As always, do your own research before buying into highly speculative assets such as cryptocurrencies.
More Stories
A Deep Dive Into: Serum