The START Vesting Protocol allows tokens to be locked in audited smart-contract vaults, bringing community trust and value to the BEP-20 token ecosystem

BSCstarter (https://www.bscstarter.finance), the first community-selection launchpad for Binance Smart Chain (BSC), today announced its first team-created Initial Dex Offering (IDO) for $VEST token to power its START Vesting protocol. The $VEST IDO will open on June 1, 2021. Using the BSCstarter platform, any project with a BSC BEP-20 token can use the START Vesting protocol to securely lock their tokens in an audited smart-contract vault for a set period of time. As the first unlimited token and liquidity locking service on BSC, investors, developers, and IDOs all have the option to use the service to build community trust with their platform.

One of the key concerns for investors wanting to buy into IDOs is trust. The exciting and innovative world of decentralized exchange offerings is still relatively young, and as a result, little protection is offered to investors exploring this new frontier. Of the many risks, a ubiquitous concern is that the team behind a new coin IDO may take advantage of money pouring in from new token buyers and decide to dump team-owned tokens or remove liquidity, causing a crash in the token price. With START Vesting, token buyers have a solid tool to differentiate the BSC promising projects from the problematic; the creators from the criminals. Aligning with BSCstarter’s mission, START Vesting gives the community a platform and tools to fight against price manipulation “rug-pulls” and malicious developers.

“We all come from the humble beginnings of BTC, ERC-20 tokens and high ETH gas fees. So we partnered with some major players and brought our strengths over to BSC to deliver products that we can be proud of,” said Lionel Iruk, Special Counsel at BSCstarter. “Like everything we’ve released thus far, we took our time, researched, tested and retested to make sure that we are continuing to bring something new & innovative to this wonderful space.”

In order to use START Vesting, investors and developers simply choose the number of tokens to lock and the unlock date. Once they confirm and select “Lock” they have set up their vesting schedule and can repeat this process for each vesting period. As the service allows for unlimited token locks, users can view the ‘My Locks’ screen to see all of their different token locks, including the number of tokens locked, value, and the date of the next unlock.

Underpinning the START Vesting protocol will be the new $VEST token, which will be initially offered in an IDO on the BSCstarter platform. The initial $VEST supply will be 10,000,000 and there will be a 0.8% deposit fee for any token to be START Vest-ed. The proceeds raised from fees will be used as rewards for $START & $VEST stakers.

To incentivise projects to use START Vesting, token depositors will earn ‘Locking Rewards’ paid via $VEST inflation. BSCstarter users can stake $START on the $VEST platform to earn more $VEST. When $VEST is unstaked, 0.50% of the unstaked amount will be burned. IDOs launched via BSCstarter will automatically use $VEST as their token and liquidity locking service. The first iteration of $START Vesting has been audited and the report can be accessed here.

BSCstarter has partnered with the industry’s major players, including Bridge Mutual and Rug Detectives, to continue to build and deliver products to progress the cryptocurrency industry. With START Vesting and the launch of the new $VEST token, BSCstarter aims to bring more value and utility to the platform and Binance Smart Chain as a whole.
To join the whitelist or learn more about $VEST tokenomics, visit the BSCstarter Medium page and BSCstarter website.

ABOUT BSCstarter
BSCstarter (https://www.bscstarter.finance) is the first community-driven launchpad for Binance Smart Chain (BSC), providing projects access to funding opportunities without the hassle of bureaucratic hurdles, complex KYC requirements and a manual selection process. BSCstarter’s solution allows the community to determine which projects to list using collective due diligence and DYOR skills. BSCstarter provides a decentralized fundraising platform as it was intended to be: community-driven, open and free with equal opportunity for all, ultimately empowering investors to filter through the messy landscape where “rug pulls” overshadow the potential of BSC’s growing ecosystem.