This is a section from the drop newsletter. To read full versions, subscribe.
Another new crypto-in-operated launchpad platform is setting up the shop-but it is for the gods.
Star.Fun is like a crowdfunding site, but with tokens and for startups. It uses the liquidity pool of Solana, Plus Metora.
Star’s founder Adam Bergman told me in a DM, “I am super emotional about the idea that you can build a business and raise money for it without the need for intro for VC (S) from your laptop.”
Instead, Star Startup Investment is a way to bring OPP to the crypto-country public that allows traders to invest only a startup related tokens and invest in projects.
The site is not yet fully filled, and may soon add a leadboard. Star is starting to raise money with his own name tokens, and plan to add others’ projects to its launchpad next week.
The Star Team plans to use AI to review the codes of all founders on the Github as part of their wetting process. You may probably expect some vibe coders to appear on the star.
Native star The tokens will be made earnable by referring to founders, and can also be purchased as an access token where holders can enter exclusive funding rounds according to their website and can see more project data.
Till Tuesday morning, Star raised a target of $ 2.5 million raised $ 3,600. According to the pitch deck seen by the blockwork, the team is targeting for a completely thin diluted evaluation of $ 12.5 million via Star Public Sale. The sales started from Monday, and will continue till 30 June next week.
Star has planned some of its trading volume revenue to buy back and buy a burning star. A quarter of the allocation of tokens is being reserved for the team, and another quarter is being reserved for star ecosystem.
Like Pampfun, star-launching tokens will have to graduate for access to large liquidity pool. Projects can also increase USDC on Star.
Asked around permission on Tuesday morning, the star made some immediate comparison, EchoAnother next-gene ICO platform to invest in crypto startups. There is also a legend.
The Star reminds me of a bit of stars Arena (RIP) and Friendtech (RIP), which mainly about trading “shares” of their influence through “investment” and crypto in people.
The star has two affiliated viewing-based LLCs, one of which is the OPCO LLC and the other is Tokenco LLC, a DAO that oversees tokens.
The Star seems available to anyone in the US regardless of investor’s position, as he was able to connect itself and another US-based blockworks team partners with our wallets.
Get news in your inbox. Explore blockwork newsletters:
