DeFiDrop Holds Yet Another Token Sale in June, this Time for PancakeLock

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DeFiDrop Holds Yet Another Token Sale in June, this Time for PancakeLock

Jun 23 2021

In brief

  • DeFiDrop did not waste time when it comes to selecting and preparing its next launchpad project.
  • Soon after announcing Simlancer token sale, the project also announced another one — PancakeLock.
  • The project held a presale on June 20th, and soon after it was completed, the project was also listed.

DeFiDrop has recently completed its fourth launchpad project, and this time, it offered the tokens belonging to the project called PancakeLock.

DeFiDrop is a rapidly growing launchpad and incubator for DeFi that has already held as many as four token sales in less than two months. The project had its first token sale in late April, followed by the second one in the second half of May. Now, there were two additional events in June that took place on DeFiDrop’s launchpad — the launch of Simlancer, and the launch of PancakeLock.

The sale of PancakeLock took place only three days ago, on June 20th, offering the tokens belonging to an autonomous, frictionless, decentralized app that aims to increase the security and legality of BSC-based protocols and their operations. Essentially, PancakeLock aims to use BSC to create a full-stack liquidity lock system, which will offer developers and token holders the opportunity to lock up their BSC-based tokens in a smart contract vault.

Doing so would allow them to earn rewards in the form of PLOCK tokens, just for using the token’s platform.

The project offers three core products/services, including liquidity pool locker, team token vesting, and NFT-infused staking. The Liquidity pool locker is a way of solving PancakeSwap exit scamming, simply by using standardized non-custodial smart contracts that lock liquidity.

Team token vesting is another smart contract that allows founders to make a vesting schedule, with specific dates for the project’s team members. Lastly, NFT-infused staking is rather clear from the name — it comes as a set of NFTs that can be staked. They will be offered during the project’s public sale. Staking NFTs certainly does come with some benefits, as liquidity providers will be able to enjoy bigger farming multiplier rewards from the fees.

According to the project’s roadmap, Q3 should be very interesting for the project. This is the quarter when it will focus on testing its products, it will go through audits with Solidity and CertiK, it will develop staking contracts, identify and approach potential partners and influencers, and focus on marketing and modifications, in general.

As for its DeFiDrop presale, the price was 6,400 PLOCK per 1 BNB, and the project sold 2,560,000 PLOCK per round. It also had a max allocation cap per wallet, which was 3 BNB. Its soft cap was 200 BNB, and the hard cap was twice this amount. The snapshot for whitelisted allocations took place only one day before the presale, on June 19th.

DeFiDrop is busier than ever

DeFiDrop is definitely seeing a very warm reception from the DeFi sector, including both the projects looking for a launchpad to hold an IDO on, as well as investors looking to invest in new, upcoming protocols. DeFiDrop held two IDOs side-by-side, basically, and four in total just as it started operating.

So far, there were no reported issues of any kind, and the confidence in the project is rapidly increasing, alongside its own user base.