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2 January 2025 • 3 min to read

How AITECH Pad Platform Works? Breakdown of Gas Feed on AITECH Pad.

Solidus AI Tech
Founder & Head of International Operations

Focusing on the main elements — guaranteed allocation, decentralization, vesting, and the role of Binance Smart Chain gas fees. Let’s explain this in simple terms:

  1. Crowdfunding Platform: Think of AITECH Pad platform like a digital fundraising event. Here, people can invest in new projects (usually in the form of cryptocurrencies or tokens).
  2. Guaranteed Allocation: This is like having a reserved seat at a concert. When you participate in a crowdfunding event on AITECHPAD, your “seat” (or your chance to invest a certain amount) is reserved. This is done by registering your digital wallet in a smart contract.
  3. Smart Contract: A smart contract is like an automated digital agreement that runs on the blockchain. It automatically executes actions (like transferring funds) when certain conditions are met, without needing a middleman.
  4. Decentralization: This is like having a community-run event instead of one controlled by a single organizer. In AITECHPAD’s platform, the process of raising funds is not controlled by one central authority but is spread across a network of computers (the blockchain). This makes the process more open and secure.
  5. Vesting in the Contract: Vesting is like a timed release mechanism for your investment. It means you might not get all your tokens or investment benefits at once. Instead, they are released over a period, as set in the smart contract. This is done to ensure a more stable and fair distribution of tokens.
  6. No Human Interaction Required: Since smart contracts automate processes, there’s no need for people to manually handle transactions or enforce rules. Everything is programmed into the contract.
  7. Binance Smart Chain Gas Fees: The Binance Smart Chain (BSC) is like a highway, and the gas fees are like tolls you pay to use this highway. Every time you make a transaction or execute a smart contract on the BSC, you need to pay a fee. This fee compensates for the computing energy required to process and validate transactions on the blockchain.
  8. Why the $3 gas fees?: Gas fees are necessary because they help keep the network secure. By requiring a fee, it discourages spammy or malicious transactions. Also, these fees reward the network participants (miners or validators) who use their computing power to maintain the network.

In summary, AITECHPAD crowdfunding platform uses blockchain technology to create a fair, automated, and decentralized way for people to invest in new projects. The use of smart contracts ensures that rules around investment (like how much you can invest and when you get your returns) are automatically enforced, without needing human oversight. The Binance Smart Chain is the infrastructure that supports this system, and gas fees are the small costs associated with using this infrastructure.

ℹ️ To be able to participate & get benefits: A minimum of 2000 AITECH is required to be staked.

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