This is a repost of
This article was originally published by Cherry Labs on the 29th of March 2022 with the title
Project Spotlight: Seedling — Revolutionizing VC
In this article, we aim to shed some light on Seedling, its progress so far, and its plans for the future.
To continue in our series of spotlight articles on projects incubated by Cherry Labs, we bring you Seedling in the Spotlight. It’s been a whirlwind first few months for Seedling with plenty of ups, downs, wins, and learning experiences along the way. Today, we want to focus on that last point: learning experiences. Diego, Project Lead at Seedling, shares with us what the Seedling team has learned in the first few months of their existence and how they are using these learning experiences to create more value for you, the Seedling community.
The following is a summary from a presentation by Diego, Project Lead of Seedling. The first person singular and plural refer to the actions and opinions of Diego and the team at Seedling, and not those of Cherry Labs.
Brand New Tokenomics
After just a few token launches, we [the Seedling team] decided to completely do away with the original tier system and implement a system based around token locking and burns. The details of this system are straightforward and robust.
There are now two ways to earn allocations for projects launching on Seedling: locking $SDLN or burning $SDLN. Let’s look at the mechanics of each process:
Locking $SDLN
The first method consists of locking your $SDLN tokens. Locking $SDLN provides investors with a monthly investment allowance based on the dollar value of their locked $SDLN and the length of the locking period.
- 1-month lock = 8x allocation each month
- 3-month lock = 10x allocation each month
- 6-month lock = 12x allocation each month
- 12-month lock = 16x allocation each month
For example, if you lock $100 USD worth of $SDLN for one month, you can purchase up to $800 allotment in Seedling IDOs for the month. If you lock the same amount for three months, you can buy up to $1,000 USD allotment in Seedling IDOs each month. Lock your $100 in $SDLN for 12 months and you can buy $1,600 USD in IDO allocations each month!
If the price of $SDLN goes up, your allocation size goes up by the same rate. If the price of $SDLN goes down, your allocation size will still be based on the $SDLN price when you originally locked your tokens. There is no downside risk to your IDO allocation sizes.
Burning $SDLN
The second option for participating in IDOs is through burning $SDLN which is rewarded with a 50x one-off dollar conversion. Therefore, if you burn $100 USD worth of $SDLN, you can purchase a $5,000 USD allotment in Seedling IDOs. This allotment can be spread across multiple IDOs.
Check out our Seedling documentation for more details on our new IDO system.
The reasoning behind the IDO system changes
The first quarter of this year will definitely go down as a learning experience for our team. One of the very first things we learned was that our old tier system was difficult to understand for new users. We continually fielded questions regarding the methodology behind the placement of $SDLN holders in their respective tiers. It was apparent early that the old system was creating a barrier to entry and that is not what Seedling, or Cherry for that matter, is all about.
Blockchain is already difficult enough for the masses to understand and we did not want to add another layer of complexity to it. These changes help us gain footing on more stable ground and help us scale up, but, most importantly, this new structure brings tremendous benefits to long-term $SDLN holders and, now, lockers.
Benefits to long-term $SDLN holders and lockers
The new system was designed specifically with our $SDLN holders in mind. We wanted the community to directly benefit from the value generated by our operations.
Both locking and burning $SDLN creates deflationary pressures on the token price. Both processes reduce the number of tokens in circulation making the token more valuable which, of course, benefits all holders.
Another clear benefit is increased flexibility in choosing which projects our community want to invest in and how much they want to invest. This new system gives our holders the power to use their allocations strategically for those projects they are more interested in. If they have a project that they really like, they can lock more $SDLN to increase their maximum allocation. If they do not like any projects in a given month, their allocation allowance carries forward to the following month. It is a win-win situation!
Addressing Challenges
Recently the Seedlings team had to take the unfortunate step to cancel some IDOs that had been scheduled on the platform. The story behind the cancelled IDOs also cycles back to our learning experiences of these past few months. Basically, no two projects or two teams are created equally. We learned that what a prospective project says and what a prospective actually does can be two very different things.
We have always followed strict due diligence practices and required the safest conditions for our community. If our due diligence reveals some red flags, we have no problem reversing our decision on launching a project if that is in the best interests of our community. We believe that there were risks involved with both projects that we just could not turn a blind eye to.
The Cherry Ecosystem in the run-up to Mainnet Launch
Everyone throughout the Cherry Ecosystem is pumped to see the hard work of the Cherry team come to fruition. We fully believe that the launching of the Cherry mainnet will have a major ripple effect not only for the Cherry Network, but also the broader crypto community.
The entire Cherry ecosystem is growing at an extremely rapid pace, a ton of the developments are being done behind closed curtains, but once that mainnet switch gets flipped, we know those curtains will swing wide open and an abundance Cherry-based projects will come to light. As the official launchpad of Cherry, we are ecstatic to have the opportunity to offer our community early-entry positions in all of these project launches.
Future plans
Our IDO system revamp has established clear protocols and guidelines which are essential for scalability of the launchpad into the future. It is undeniable that working with Cherry Labs, the project incubator of Cherry Network, provides us with a wonderful competitive advantage over other launchpads on the market.
That said, we believe that interoperability and composability are key characteristics of the future of blockchain technology and we at Seedling are focused on nurturing developments in these areas. We want to become not just another launchpad, but THE premier cross-chain launchpad. We will do this by accepting also the highest quality projects from other ecosystems that must pass our strict quantitative and qualitative analyses and meet our community’s high standard of quality.
Marketing
We hear questions about marketing from our community quite often. We hear you! As Cherry mainnet moves closer and closer to becoming a reality, we will begin to ramp up our marketing activities. This new marketing campaign will focus on various features of our platform that will be critical for mass adoption.
We are looking forward to solidifying our ties with capital partners and key opinion leaders. To supplement these efforts, we will also reach out to our community with an Ambassador Program. The program will involve the most experienced, enthusiastic, and loyal day-one holders of $SDLN. These ambassadors will be able to apply their unique talents and help spread the Seedling word.
We are also looking to cooperate with some of the top influencers and other major players in the crypto space. Finding the right partners to collaborate with, those that will support Seedling over the long-term, will be critical for increasing the brand awareness of our launchpad.
Final thoughts
We are also constantly working and brainstorming on new ideas. We are not just looking to attract new investors to our platform, but also to benefit the people that have been with us and have been actively supporting us since day one.
Thank you for engaging with the project and contributing your ideas and knowledge on our Telegram and other social media channels. We listen to every one of your opinions and feedback and always keep them in mind for future implementations.
There are some massive announcements coming soon! It is a great time to be a SDLN holder!
Follow Seedling
🌐 Website: https://seedling.cm
👥 Telegram Group Chat: https://t.me/seedling_cm
📣 Announcement Channel: https://t.me/seedlingnews
🐦 Twitter: https://twitter.com/SeedlingCM
Cherry labs is an incubator that specializes in blockchain products and applications. We are currently open for applications from all teams and developers building on the Cherry Network. Learn more here:
Apply for incubation | Follow us on Twitter | Discover Cherry Network
About Seedling
Seedling is the first launchpad dedicated to launching projects on the Cherry Network, as well as the main blockchain networks such as Avalanche, Ethereum, Polygon, Binance SmartChain, Fantom, and others.
Follow us
Join our Telegram channel for more information and to keep up to date with Seedling: https://t.me/seedling_cm
The Announcements for the private and public campaigns will be on our public Telegram channel above and our Announcement channel: https://t.me/seedlingnews
Follow us on Twitter: https://twitter.com/SeedlingCM
Follow our Medium: https://seedling-cm.medium.com/
Discord: https://discord.seedling.cm
Website: https://seedling.cm
