ETHPad is a decentralized and cross-chain platform functioning on several blockchains like BSCpad, TRONPAD, and Ethereum. The platform provides capital to the blockchains through launchpad products. ETHPad is a deflationary IDO (Initial DEX Offering) platform offering IDO participation facilities to crypto-traders.

Inspired by EIP-1559, the platform implements a burning mechanism by tying staking, selling, and IDO participation functions to the process. This means that the platform attains the circulated tokens by staking, trading, and allowing users to participate in IDO using ETHPAD, the native token of the platform.

In the current market, Ethereum-based launchpads are vulnerable to manipulative tactics and frauds. Thus, the ETHPad blockchain was launched focusing on finding suitable ways to avert manipulative tactics. The platform requires users to go through KYC as the identity verification process to ensure security over the ETHPad ecosystem. Also, the platform uses a third party to carry out Ethereum operations to eliminate susceptibility and initiate smooth functionality.

The initial two deflationary mechanisms have a 10% fee on all token purchases. Out of this, 2.5% is burned, and 7.5% is given to stakers in ETH. Burning is when a fraction of tokens are sent to a wallet with no private key. This means the tokens are lost forever. Tokens are usually burnt to reduce availability and increase market value. There is also an option to unstake the token that comes with a 25% burn fee. However, if the user waits for 21 days to unstake, there will be no fees applied on the transaction. 

 History of ETHPad (ETHPAD)

The founder of BSCPad Bluezilla has created the ETHPad. The maximum supply of the token is limited to 1 billion ETHPADs.