CoinMarketCap has officially unveiled a new launchpad for pre-TGE crypto projects with a 50 million user reach. Its first featured project on the platform is YZi Labs-backed Aster DEX.
According to a press release sent to crypto.news, CMC Launch is a launchpad found within the cryptocurrency data platform. The launchpad is designed to accommodate emerging projects in the crypto space that have yet to reach the Token Generation Event stage.
It grants new projects exposure to an audience of more than 70 million monthly users, giving them an opportunity to grow their communities and gain substantial market traction. CMC Launch can be accessed through a dedicated launch page on CoinMarketCap.
According to the statement, the launchpad is equipped with qualification requirements built to ensure a strict selection process for projects featured on the platform. Project developers are also expected to complete interactive quests that encourage deeper project expansion, and by facilitating the qualification process of eligible wallets for airdrops.
The first project to be featured on CMC Launch is the decentralized perpetual exchange Aster, which is currently available on BNB Chain (BNB) and Arbitrum (ARB). Backed by YZi Labs and partnered with PancakeSwap (CAKE), Aster offers one-click trading with up to 1001x leverage through its Simple Mode. Meanwhile, Pro Mode comes with advanced tools for more experienced traders.
Users can also earn rewards in the form of Au points when they trade perpetuals on Pro Mode or when they mint and hold certain assets like ALP, USDF or eligible LP tokens. Both options allow traders to stack its native token, AST, for future airdrop allocation. In addition, Aster also provides non-custodial trading without requiring Know-Your-Customer verification.
CEO at CoinMarketCap, Rush, said CNC launch is intended to help new projects lift off the ground by connecting them directly to prospective users in the crypto space who are looking for “the next big thing.”
“As the ‘Home Of Crypto,’ we’re thrilled to welcome Aster as our first CMC Launch project and introduce them to our global community,” said Rush.