What is Seedify.fund?

Seedify.fund is a crypto innovation project that helps provide seed funds, an incubator, and a launchpad for new web3 projects. The project is designed to be a decentralized autonomous organization (DAO) with all decisions made by the governance.

Founders can submit projects and ideas to seedify.fund, which the community members deliberate on. Then, votes are cast at each process step to determine whether the project idea will be funded, incubated, and launched.

All incubated projects are expected to launch tokens through an IDO, which allows members of the Seedify community to participate. 3% of the funded project’s tokens are also allocated to Seedify to share between stakers, the treasury, and community members who contributed to the project’s development.

History of the Seedify.fund Project

The Seedify project was created in 2021 as a decentralized organization focused on receiving and analyzing proposals. To establish the project, the team formed the DAO and all the necessary interfaces to participate in decentralized decision-making.

Afterward, the staking infrastructure was developed, which included the staking interface, automated rewards, and smart contract audits. In the second quarter of 2021, the multichain wallet was created to attract a wider user base.

To further the DAO design, the project launched its transparent dashboard for community members to participate and provide feedback. On August 1st, 2021, Seedify became the first gaming-focused incubator and launchpad in the blockchain space.

The Alpha program was launched at the end of 2021, and the final version of the platform was launched in 2022. By the end of 2023, Seedify.fund received and scanned over 250 projects and 15 games and onboarded 6 partners to their solutions partners program (SPP).

These partners included major names like Pandez Labs and Blockchain Space.

The Team

Levent Cem Aydan created the Seedify project in 2018. He started building projects in the blockchain space in 2012 and has amassed years of entrepreneurial experience.

Aydan became dissatisfied with the conduct of private equity funds and traditional venture capital entities. He focused on providing decentralized solutions to enterprises intending to build and raise funds in the blockchain space.

When Seedify.fund launched in 2021, it onboarded Ali Karabey and Ismail Hakki as advisors. Ali Karabey is an experienced venture capitalist with knowledge of technology start-ups, finance scaling, and private equity. Ismail Hakki is a veteran in the academic and media sectors and has a long background in blockchain tech.

In 2022, Seedify expanded its team by incorporating expert developers and creators like Crypto Gorilla, Champ, and Kyle Van Hoven to serve as strategic NFT advisors. Later that year, Orkun Işıtmak joined the team as a content advisor.

Orkun Işıtmak is a YouTuber and creator of Ork Digital, a production company that has previously collaborated with Nike, Gillette, Samsung, Pizza Hut, and other top global brands.

How Does it Work?

Fund Pool

Source: Seedify.fund Website

As an incubator, Seedify uses the fund pool to amass resources to support incubated projects and collect returns from these projects. The pool initially comprises funds reserved from the allocation in Seedify’s tokenomics.

Subsequently, the pool would consist of token allocations from seed-funded projects that launch native tokens. The Seedify project provides funding worth $75,000 to each approved project with an agreement to receive tokens when the project launches. Seedify retains a 3% stake in tokens from each funded project, allocated between stakers, community members, and Seedify.

The fund pool reserves 50% of the token allocation for funding new projects to expand the Seedify ecosystem. Users who stake in the Seedify project are rewarded with a 25% share of tokens generated by incubated projects.

15% is reserved for the community involvement program. This program involves experts in the Seedify community who assist the incubated project in building, launching, and scaling.

The remaining 10% is allocated to fund essential operations for running Seedify, like maintaining a full-time team and fueling marketing efforts.

Project Selection

Source: Seedify.fund Website

The project selection process depends heavily on Seedify’s decentralized governance feature. It is conducted in multiple phases. First, the founding team of the project seeking incubation and funding must submit important details to the Seedify team.

These details include the project’s name, logo, category, description, website, and team. This is not for the Seedify team to decide which projects are viable for incubating but to ensure appropriate documents are presented.

These documents are then presented to the community, giving them the knowledge required to make an informed vote. The next stage is DAO voting.

When the voting period arrives, members of the Seedify project choose if the project is viable enough to receive funding and incubation. If the project is successful, these members benefit financially. If the project fails, the members lose financial returns.

Chain-Agnostic Framework

The Seedify project is designed to integrate with other blockchains and platforms. This means it does not favor a particular blockchain and would incubate projects that can be built on any blockchain. This allows Seedify to take advantage of the strengths of different blockchains.

This chain-agnostic approach translates into welcoming projects built on any layer 1 or layer 2 platform, and it extends inclusivity to its staking design. Seedify’s platform seamlessly integrates with multiple layer 1 wallets, guaranteeing hassle-free reward distribution for token holders.

This ensures that stakers can receive rewards from incubated projects, regardless of the blockchain they are built on. The aim is to improve cross-chain interoperability and position the company to support the entire blockchain space.

Features of the Seedify Ecosystem

IDO Launchpad

Source: Seedify.fund Website

The Seedify IDO launchpad is a feature designed to connect promising blockchain ventures with potential investors in the Seedify community. The platform focuses mostly, but not exclusively, on GameFi projects.

The process for launching a project on Seedify involves two stages. The first stage is the selection process, during which the creator provides all the information and engages with the community to muster support.

The second stage is the community voting stage. The project must secure 80% positive votes from at least 20% of native token holders. If less than 20% of token holders vote or less than 80% of positive votes are gotten, the project loses the opportunity to receive $75,000 seed funding.

These projects then conduct their IDO on the Seedify IDO launchpad, and investors who hold SFUND tokens participate. The launchpad has a tiered system for investors that determines their total allocation to ensure a fair distribution of tokens and profit.

INO Launchpad

Source: Seedify.fund Website

The Seedify project has an initial NFT offering (INO) feature, which operates similarly to the IDO launchpad. This platform is focused on funding and launching NFT projects, allowing investors to participate before they become mainstream.

Like the IDO platform, holding SFUND tokens grants investors the privilege to participate in INOs hosted on Seedify. Investors would also need to accumulate an additional token, SNFTS, which would provide utilities like lower transaction fees and an increased rate of minting rare NFTs.

Transparency is a core principle, so Seedify clearly outlines the price and total supply of the NFTs available during each offering. Additionally, they explain the mechanics of participation, ensuring fair access for interested investors.

Staking

Source: Seedify.fund Website

Seedify’s staking feature consists of staking and farming functionalities. The staking feature requires users to lock their SFUND tokens for a predetermined period, ranging from 30 to 270 days. The longer the period, the higher the annual percentage yield (APY) earned.

Seedify’s anti-inflationary design ensures it doesn’t mint tokens to reward stakers but distributes tokens of funded projects to stakers. Seedify requires users to connect their wallet, select a lock-in period, and confirm the transaction to simplify the process.

The farming feature involves contributing to a designated pool. The user looking to participate in a trading pair must add SFUND tokens and an equal value of the other token. As a reward, liquidity providers receive LP (liquidity providers) tokens, which can be staked on the Seedify platform for additional rewards.

In October 2021, Seedify upgraded the staking and farming system by launching a dedicated website for those functionalities.

Claim Dashboard

Source: Seedify.fund Website

The claim dashboard on Seedify gives the user a holistic view of their activities and investments on the platform. It shows the number of IDOs participated in, the staking pool data, the APR, the period of staking, and any accumulated staking points.

When participating in IDOs and INOs, the dashboard shows the user’s tier and allocation. After participation, the user must connect the appropriate wallet to claim allocations.

Due to its chain-agnostic design, the project allows users to add multiple wallets to take advantage of projects built on numerous projects. The project supports claiming on blockchains like Ethereum, Fantom, Binance, Polygon, Avalanche, and Sei, among others.

What is the SFUND Token?

The SFUND token is the native token of the Seedify project, which allows investors to fund promising blockchain projects. It is a BEP-20 token for staking, farming, funding, and voting on the Seedify platform.

The token has a total supply of 100 million tokens, with an initial supply of 15 million and a current supply of 60.5 million. The tokenomics allocates 7% (7 million) to reward the community through bounties. 6% (6 million) is allocated to the initial fund pool for funding approved projects.

2% (2 million) is allocated to Seddify’s operations. 9% (9 million) is allocated to liquidity mining programs, which would be vested to be distributed over 10 months. 10% (10 million) is allocated to marketing and development efforts, to be unlocked over 10 months.

16% (16 million) is allocated to the founding team. The allocation will be locked and released every six months for four years. The final 50% (50 million) of the tokenomics is allocated to the funding pool reserves.

What is the SNFT Token?

SNFT is the second token in the Seedify ecosystem, allowing users to participate in NFT offerings. The Seedify NFT space only focuses on metaverse and in-game assets. Users who hold SNFT are eligible for airdrops, better transaction fees, improved RNG rates for random NFT drops, and improved NFT rarity.

The token allows holders to collaborate within the platform’s treasury and marketing departments. All transactions conducted with SNFTS have a 1% fee instead of the 2% transaction fee on the Seedify platform.

Is SFUND a Good Investment?

The SFUND token is designed specifically to cater to the needs of investors looking to fund projects before they become mainstream. This allows them to stake tokens to earn rewards and participate in IDOs and INOs.

The token is designed to be anti-inflationary, so no new tokens are added. Instead, holders build their portfolios with tokens from successfully funded projects. This reward system protects the investor’s token while exposing them to the price movements of other new projects.

The token also gives holders the right to make decisions, allowing them to choose the projects to fund and the tokens to receive as a reward. This would enable them to ensure the long-term sustainability of the Seedify project.

Risk Analysis

Advantages

The Seedify project provides access to funds, a community of experts, partnerships, and a launchpad. Unlike building without support, this allows projects to kick off and scale faster. The community-driven governance is another advantage.

This gives the users the power to make decisions within the community, and creators get first-hand feedback on improving their functionalities. Seedify’s anti-inflationary design prevents It from creating new tokens, preventing the long-term dilution of staked assets.

Disadvantages

The returns expected by stakers and investors are determined by the success of the funded project. If the funded project fails to grow due to hard times, the Seedify community will suffer losses.

The approval limitation can result in wrongful positive or negative votes from investors with little knowledge of funding practices.

Challenges

As a project in the crypto space, Seedify is not immune to the good or bad market conditions. In challenging times, growth opportunities may shrink due to limitations on funds and advertising.

Seedify aims to impact the metaverse and blockchain gaming worlds by funding projects that leverage those technologies. However, this comes with the challenge of available technology. Investors who fund such projects would have to wait a long time to enjoy the full potential of their investment, as the metaverse tech is still underdeveloped.

Competitive analysis

CoreStarter and Seedify.fund are two platforms that offer funding and support to blockchain projects.

CoreStarter is built on the Solana blockchain and is recognized for its efficiency and scalability as a cross-chain solution. This attracts investors interested in NFTs on Solana since its NFT marketplace is integrated into the platform.

Seedify, conversely, is a chain-agnostic platform that operates on the Binance Smart Chain, focusing more on projects in the gaming niche. This focus, along with the incentivization through its native SFUND token, positions it as a significant GameFi project.

Both platforms employ native tokens to facilitate participation in sales events, staking, and rewards, but SFUND is tailored to serve a community governance model. This caters to a broader range of investors, allowing them to improve their position in the GameFi space.

How Can You Own SFUND?

Users can follow a simple process to own SFUND tokens and become a part of the Seedify ecosystem.

Setup a Wallet

One way to own SFUND tokens is to purchase them through an exchange. For this, the user must create a Gate.io account, complete the KYC process, and add funds to the account to buy the token.

Staking

Once users have acquired SFUND tokens, they can stake them to participate in governance, IDO, INO, and claim rewards.

Swap

The SFUND token is built on the Binance Smart chain, allowing users to swap it for BNB and wrappedBNB (WBNB). It can be exchanged for other popular tokens like ETH, WETH, USDT, and the native SNFT token.

Take action on SFUND

Users can trade the SFUND token here.