MISO: Minimal Initial SushiSwap Offering
Sushi’s newest product to rise from a governance proposal is, aptly named, token launchpad platform, MISO. You voted for it, so we got to work and over the last few months, we took the initial MISO proposal and tailored it to meet the expectations of the Sushi community that has grown to be the powerhouse that it is today. From its onset, the goal of MISO has stayed the same — a focus on encouraging projects to launch their tokens on Sushi. But, as with all Sushi products, expect the unexpected, because what can we say?, Chef Gonpachi and friends couldn’t help themselves and kept adding to the broth.
As we approach the May 17th MISO token launchpad release, we will be dropping more details about MISO’s “Recipes,” its “Ingredients” and offer tours of the “Kitchen,” so everyone can make the most of this new platform. What we mean by everyone are the two groups of people that can benefit from a big bowl of miso. Let’s see if you’re one of them.
Bob & Alice Who?🤷♀️
If you’ve read this far — Spoiler alert: You are probably a Bob or an Alice. Someone who would not be considered either a Bob nor an Alice is someone who is not interested in MISO. Which couldn’t possibly be you, could it!?
Token launchpads cater to two sides of the same experience. One crucial part of minting a new token is the “Project” side, or who we like to call, “Alice.” For any new project or new token to gain any amount of success they need supporters, or who we like to call “Bob.” While both have completely different reasons for using a launchpad, they share many of the same requirements. Realizing this, the team and Chef Gonpachi structured MISO to serve both sides with what they need, in one of the simplest and most user-friendly launchpads available today.
MISO for “Alice” (The Project) — The base of any miso broth worth its paste has to, first and foremost, be sound. If you are an Alice, you would use MISO to create a new token for your project and try and gather support for it. Cryptocurrencies are built using a technology called ‘smart contracts.’ Smart contracts use the alias of “Ingredients” on the MISO platform to avoid daunting jargon. MISO is unique because Alice can add and mix “Ingredients” together to customize their project’s new token, in a stress and hurdle-free process. The decentralization of the platform further ensures that Alice gets that smooth MISO experience, every time, with the added bonus of listing her shiny new token on SushiSwap.
MISO for “Bob” (The Project Supporters)— Alice wants to easily, securely and successfully launch her project and its corresponding token to begin trading on Sushi. In order to do so, they need to reach a certain threshold of support from the Bobs that use MISO. Before Bob makes any sort of commitment, he, rightfully, needs to have a certain peace of mind. First, all “Ingredients” are actually smart contracts, remember? Each “Ingredients” code has been audited and is open source to the public so Bob can rest assured that the foundations of the tokens’ technology are sound. Bob will also have full access to a project’s disclosed information to help him make sounder decisions.
The Alice Experience (Project Owners)
Alice wants to use MISO to launch her project. When we first proposed MISO, Alices were expected to be “non-technical founders” of crypto projects — looking to set up their launch without the troublesome burden of writing, testing and deploying their own smart contracts. As we were building the platform, we realized there are many more varieties of Alice out there that need MISO that could even be highly technical.
Not only will MISO serve up secure, hassle-free smart contracts, it will expose many future Alice tokens to a larger initial audience than they may have been capable to reach on their own, by developing and deploying their own launch contracts. This benefits Alices who are “technical founders,” because they can stay focused on developing their product, as opposed to dedicating time and effort to both building and marketing.
While lowering the barrier of entry to launching a crypto project is an asset of MISO, in truth, even the most gifted Alice teams have use of a strong, secure launchpad.
Simply put, any Alice is able to set up the minutiae of a project launch in minutes. From token minting (creation), token vault set up, farm seeding (yield farm pool creation, find out more about DeFi yield farming here) and managing the token sale through to the final liquidity pool on Sushi (e.g. the SUSHI-WETH token pair) — Alice can give their community, and outsiders, the confidence of security when participating in their launch campaign.
The Bob Experience (Project Supporters)
Bobs are participants that are most likely not involved in the development of the project or its team, yet their role is extremely important. Whether they’re a devout member of an upcoming project’s Twitter or Telegram community or just a crypto enthusiast looking for the hottest new business idea, Bob wants to take financial part in a token launch. Bob wants trustless backing, but before making any decision, Bob needs to feel confidence in the project, the security of the technology behind it and wants to earn some perks for being an early supporter.
Bob wants all this, but doesn’t want to pay a fortune in fees to do so. Fair to say, Bob is a hard one to please. But can’t we see a bit of Bob in all of us?
MISO is unique becomes it provides a platform for Bobs to become an early ally for exciting new token launches. It also provides a platform for token discovery, a place to find hidden gems and unique, exclusive opportunities. Alice can only do a token launch once per token, so every MISO launch is in itself an exclusive opportunity. The platform further helps facilitate these opportunities by providing Bobs with the crucial information necessary to proceed with sensitive decisions. Thankfully, Bob doesn’t need to read the auction contract code or anything like that — Bob just knows that MISO is handling all the work!
MISO + Sushi, the perfect combo 🥣🍣
Creating a strong and successful launch for both Bob and Alice, leads to an ultimately better experience by the time a token arrives on SushiSwap. By having MISO coded from the get-go to feed into the Sushi exchange, we’re able to offer token streamlining, which is normally quite an arduous process for both our Bobs and our Alices.
MISO will fit into the SushiSwap ecosystem as it expands throughout 2021 and into the future — if listing on SushiSwap is the main course, then there’s no better starter than MISO.
Sushi.com provides a platform to maximize the value of your cryptocurrencies through decentralized finance tools such as yield farming, token staking, margin trading via Kashi and BentoBox and, now, token minting and discovery through MISO. Sushi is a community-driven decentralized exchange platform, which allows users, like yourself, to vote on ecosystem expansion initiatives, like MISO, and completely share transaction fee revenues with ecosystem participants. Sushi is responsible for making billions of dollars of idle assets earn secure, passive income through its DeFi ecosystem. To learn more, visit sushi.com, join our Discord or follow us on Twitter by searching @sushiswap.