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VENT Finance
VENT Launches Public WingRiders Token Sale That’s Open To Any Investor 1

VENT Finance is kicking off what is expected to be the first of many General Pool Sales as it looks to expand its launchpad model to make new projects more accessible to a wider range of investors. 

VENT announced that it’s dipping its toes into the GPS model through a blog post on Medium last month, explaining that it’s doing so to provide greater access to the upcoming projects it promotes and ensure they get more publicity. 

The GPS model is different from VENT’s traditional launchpad. With the older model, investors are required to hold a minimum amount of VENT tokens in their wallets to be able to access its IDOs. This is done to promote the growth of the wider VENT ecosystem, but it comes at the expense of accessibility as not everyone wants to hold those tokens. 

Going forward then, VENT said it will adopt a two-model approach for all new projects it supports. So investors who want a piece of the action will no longer be required to hold VENT tokens to get some of it. The only requirement is to register with the VENT platform and complete its Know Your Customer and AML processes. The price for not holding VENT tokens is that GPS buyers must pay a 20% participation fee on each token they acquire. This, VENT explained, is designed to ensure investors will still support its ecosystem when participating in GPS events, as part of those fees will go towards buying back VENT tokens off the open market. 

On the other hand, VENT token holders will benefit from being able to access the IDO too, as well as an allocation in the GPS that’s reserved specifically for them. 

“Added to IDOs, the GPS model is another excellent way to accelerate the development of successful fundraising methods across communities,” VENT explained on Medium.

The first GPS on VENT will be WingRiders, which is aiming to raise $500,000 on the platform. The raise will be split 60-40 between an ICO and a GPS, with $300,000 earmarked for the former and $200,000 for the latter. 

WingRiders is a Cardano-based AMM/DEX created by VacuumLabs that features a unique extended unspent transaction (eUTxO) model that’s designed to be more robust when executing multiple transactions. The platform provides all of the functionality one has come to expect from a DEX, with staking, trading, yield farming, and liquidity-providing mechanisms. It also boasts a number of unique capabilities. For instance, WingRiders is the first DEX on Cardano that supports hardware wallets like Ledger and Trezor, and it’s the first to support BTC, ETH, and other non-Cardano assets. Notably, those assets include stablecoins such as USDC. Other capabilities include integration with decentralized apps such as the Nu.Fi staking wallet. 

WingRiders also plans to introduce DAO-based governance, with voting rights guaranteed to $WRT token holders. Holding these tokens also provides opportunities for additional rewards when providing liquidity, yield farming, and swapping for ADA and other ERC-20 tokens. 

With so many unique features it’s no surprise that WingRiders has already emerged as the number three DEX on Cardano with regards to its total value locked.

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