Star.fun Raises $3,600 in Crypto Launchpad Debut

Star.fun, a new crypto-powered launchpad platform, has emerged as a crowdfunding site tailored for startups, leveraging Solana and Meteora’s liquidity pools. The platform aims to democratize startup investment by allowing traders to invest in projects through the purchase of affiliated tokens, eliminating the need for traditional venture capital introductions.

Adam Bergeman, the founder of Star, expressed his enthusiasm for the concept, stating that it enables entrepreneurs to build and fund their businesses entirely from their laptops. The platform is designed to bring startup investment opportunities to the crypto-native community, making it accessible for traders to support projects by buying their tokens.

Star.fun is currently in its early stages, with plans to expand its offerings soon. The platform is starting with its own namesake token, STAR, to raise funds and intends to add other projects to its launchpad in the coming week. The STAR token will be earnable by referring founders and can also be purchased as an access token, granting holders entry to exclusive funding rounds and additional project data.

As of Tuesday morning, STAR had raised $3,600 of its $2.5 million goal, with a fully diluted valuation of $12.5 million targeted through the public sale. The sale began on Monday and is set to continue until June 30. The platform plans to use AI to review founders’ code on GitHub as part of its vetting process, which may attract a variety of developers to the platform.

Star.fun intends to allocate a portion of its trading volume revenue to buying back and burning STAR tokens. A quarter of the token’s allocation is reserved for the team, while another quarter is reserved for the Star ecosystem. Similar to other platforms like pumpfun, Star-launched tokens will need to graduate to access larger liquidity pools, and projects can also raise USDC on Star.

Star.fun has drawn comparisons to other next-gen ICO platforms, such as Echo and Legion, which also focus on investing in crypto startups. The platform’s structure and functionality bear similarities to Stars Arena and Friendtech, which were centered around investing in individuals and trading shares of their influence via crypto.

Star.fun operates through two affiliated Wyoming-based LLCs: OpCo LLC and TokenCo LLC, a DAO that oversees the token. The platform appears to be accessible to anyone in the US, regardless of investor status, as demonstrated by the ability of US-based individuals to connect their wallets to the site.