Polkastarter (POLS) Review: All About the Project
The blockchain ecosystem continues to expand swiftly, offering numerous new projects every day. Many crypto enthusiasts want to jump on this train and participate in promising projects, but it is not easy to find a reliable solution. In this overview, you will learn about why the Polkastarter platform was created and how to participate in various IDOs.
What Is Polkastarter
Polkastarter is a cutting-edge fundraising service for blockchain projects. This network allows the creation of token pools connected to multiple blockchains that include Ethereum and Binance among others. This compatibility with other chains provides quick and convenient solutions for launching promising and reliable crypto projects.
History
Daniel Stockhaus and Tiago Martius started this platform back in 2020, and it was initially built on the basis of the Ethereum blockchain. The idea was to test various features and dynamics, gather the required data, and prepare the platform for migrating to the Polkadot network. This is a protocol that connects different blockchains and allows exploring all the benefits of interoperability. By the end of 2021, Polkastarter helped with gathering more than 4,5 million dollars for a wide range of cryptocurrency and blockchain projects.
Founders & Advisors
The original creators of Polkastarter project are Daniel Stockhaus and Tiago Martius. They are the CEO and CTO of this platform, respectively. Miguel Leite, with more than ten years of experience in developing tech companies, is also a co-founder of Polkastarter Launchpad. Danilo S. Carlucci and Matthew Dibb are the company’s advisors, helping with marketing, ecosystem, strategy, crypto assets, and more.
Technical Roadmap
Since 2020, Polkastarter has achieved a lot in terms of technical development. Here are some of the checkpoints of the technical roadmap of this blockchain project:
Phase 1 – 2020
· Beta project Polkastarter 1.0 on Ethereum blockchain.
· Liquidity mining.
· Building up crucial data for token swaps.
· Creating public and private swap pools.
· Implementing smart contracts to prevent scams.
· Adding Chinese, Korean, and English languages to the platform.
Phase 2 – 2021
Quarter 1
· Launching Polkastarter 2.0.
· Opening cross-chain token pools with Polkadot and ETH.
· Offering staking for various rewards and platform governance mechanisms.
· Complete integration of Know Your Customer solutions.
Quarters 2, 3, and 4
· Launching Polkastarter 3.0.
· Implementing token swaps across different blockchains.
· Offering dynamic swaps.
Features of the Token
This platform has its own Polkastarter coin called POLS. This token powers the entire Polkastarter platform and is used for crowdfunding IDOs of upcoming crypto projects. Here are some features of the platform available thanks to this token:
· Cross-chain token swaps
· KYC integration
· Dynamic and fixed token swaps
· Platform governance
· Anti-hacker and anti-fraud features
· Permissionless access
Utility
Many blockchain projects have their own utility tokens created to support the platform. POLS is a native Polkastarter token used for utility and governance. To take part in IDOs available on the platform, you must purchase and stake POLS tokens to increase your POLS power. Here are the key applications for POLS:
· Governance – POLS is a governance token, which means that its holders have a vote in various matters regarding the platform. Every user that owns POLS tokens can influence the decisions regarding the fees on the platform, protocol features, offered tokens, etc.
· POLS staking – it is possible to stake POLS coins to receive multiple rewards. For example, these tokens can be staked to gain access to crypto liquidity pools. However, it is up to pool developers to grant access via staking.
· Crypto liquidity mining – POLS coins can be staked to take part in liquidity mining. All users providing liquidity to markets receive rewards from this staking.
POLS Distribution
The POLS tokens are distributed among users and platform owners. Here are the percentages of distribution of native Polkastarter coins:
· Seed sale – 15%
· Expansion and development of the platform ecosystem through partnerships, marketing, etc. – 15%
· Development team and platform advisors – 10%
· Tokens reserve – 10%
· Private sales – 5%
· Crypto liquidity fund that offers liquidity to a range of crypto exchanges – 5%
Price History
When POLS was first listed back in September 2020, it immediately grew in price by 0,65 dollars when the first investors purchased it for about 0,020 dollars on average. Even such seemingly insignificant price fluctuation offered some great profits. After that, the price started decreasing gradually up until it hit its lowest point in history, selling for $0.099 dollars. However, after the fall, the POLS token started to increase in value once again starting in December, and in February 2021, it was already selling at the highest price of 2,40 dollars. That February, the price grew three times up to 7,51 dollars, which was its peak. Since that time, it has been selling for around 5,50 dollars on average. Experts think that this crypto token has great potential and will grow in the future.
Polkastarter Launchpad
Polkastarter Launchpad is an incredible solution for both crypto project creators and IDO participants. There are numerous benefits for both parties as Polkastarter opens secure and convenient opportunities for creating and supporting promising blockchain projects, which improves the crypto community.
Benefits
In order to discuss the advantages of using this blockchain launchpad, it is necessary to highlight the benefits for all users of the platform. Here are the advantages for project developers:
· Creating crypto pools – the token pools created via Polkastarter are interoperable, which means that they are connected to different blockchains. This is extremely important as this cross-chain nature allows gathering tokens quickly and securely. Such coverage is crucial for raising funds with the help of different blockchain users. This also means quicker and cheaper transactions, which is much needed in the crypto world as gas fees can often be higher than the amount of the transaction itself. Thanks to a thorough KYC process, all project owners can be sure that users in the community are reliable investors.
· Access to a diverse crypto community – exposure is extremely important in the blockchain world as this is a special territory for interested users and not one-time visitors. The Polkastarter Twitter page alone has more than 600 thousand followers, which are all dedicated community members. There are also Telegram and Discord pages that add to the number of Polkastarter users. All of them are potential investors that know what to look for and can have an interest in your IDO.
· Market connections – apart from regular platform users, there is also a council of leading personalities in the blockchain industry, who monitor all the IDOs closely. This grants seamless access to a wider audience and incredible opportunities.
These were the benefits for IDO creators, but all website users also receive certain perks by investing in these projects:
· Enhanced user experience – thanks to the incredible user-friendly design and convenient UX solutions, it becomes incredibly simple to participate in any IDO featured on the launchpad. Permissionless access ensures that everyone has the opportunity to join after getting on the whitelist.
· Offering top-quality projects – all IDOs submitted to Polkastarter are revised before launching on the platform. This ensures that only superior projects reach investors, and users do not have to sift through tons of unreliable projects with no potential.
· Early access for anybody – previously, only professional crypto investors had the luxury of getting early access to the newest blockchain projects. Now, all Polkastarter users that applied to become IDO investors and got on the whitelist can have early access to the project of their choice.
Pools
Polkastarter is a platform that offers to create crypto pools to fund upcoming blockchain projects. Such pools are cross-chain instead of being on one blockchain. This way, launchpad users can create a pool that connects to Ethereum, Binance, Solana, etc. apart from Polkadot. Connection to multiple blockchains increases the speed of collecting funds and makes fundraising more accessible for different users.
Security
Separate fundraising projects on the blockchain are often a scheme for creators to run away with crypto. This makes investing in new projects quite dangerous, which is why many investors are reluctant to support various fundraisers. Polkastarter, however, makes all IDOs go through an approval process to evaluate the quality and legitimacy of the projects. Users also have access to various background information and the roadmap of the projects to make their own decision about their trustworthiness. Only high-quality IDOs with secure solutions are displayed on the platform, so investors can be sure that their money will not go to waste.
How It Handles Fixed Swaps
Polkastarter incorporates Fixed Swap Pools, unlike the automated model used by the majority of other decentralized exchanges. This means that liquidity pools at Polkastarter swap tokens at a fixed price. On the other hand, AMM pools adjust their pricing automatically based on supply and demand, which often results in extreme volatility. To guarantee stability, IDOs on Polkastarter can set fixed prices.
Fixed Swap Advantages
The main advantage of fixed swaps is, of course, stability. Volatile price swings can be drastic and cause great losses. Fixed swaps eliminate this issue by offering fixed prices from the beginning. Fixed swaps are especially beneficial for fundraising purposes as they offer the transparency and reliability that people need when investing in new projects. Another advantage of this system is that tokens are distributed more evenly among users, which lowers the possibility of a rug pull.
Polkastarter Pros & Cons
Polkastarter is a relatively new platform that still has a lot of work ahead. It offers numerous benefits to its users and partners, although some improvements can be made. Here are the key pros and cons of Polkastarter.
Advantages:
· Blockchain interoperability – Polkastarter Launchpad users can participate in token pools connected to a variety of blockchain protocols, such as Binance, Ethereum, and others.
· Permissionless access – any user can benefit from token listings, transactions, and IDOs offered on the Polkastarter platform.
· Cross-chain token swaps – it is possible to swap cryptos across various blockchains on this platform.
Disadvantages:
· POLS volatility – the native token of Polkastarter called POLS is currently highly volatile, which makes its price fluctuate significantly.
Overall, Polkastarter offers many great features, while its POLS token will eventually stabilize as it becomes more popular.
Summary
Polkastarter is a DEX built on Polkadot blockchain. This platform offers convenient and reliable solutions for crypto developers to boost their projects and for users — to invest in promising IDOs. Polkastarter differs from most decentralized exchanges thanks to offering fixed swaps and stability. Because of robust KYC solutions implemented on the platform, both investors and project creators can benefit from great transparency of operations and increased security. The native token called POLS is useful for IDO staking and increasing liquidity. In addition, it is used in Polkastarter governance and allows any user to participate in making important decisions and improving the platform.
Frequently Asked Questions
What Is Polkastarter?
Polkastarter is a digital platform built on blockchain. It allows users to raise funds for their blockchain-based projects. This protocol is developed to facilitate the creation of cross-chain crypto pools. This allows gathering tokens for funding crypto projects from various blockchains, such as Ethereum, Binance, and others.
What Are the Benefits of Polkastarter Launchpad?
Polkastarter Launchpad allows creating quick, secure, and interoperable token pools for crowdfunding various blockchain-based projects. With the possibility to gather tokens from a range of blockchains, every transaction remains swift and cheap. A huge community has already gathered around Polkastarter, which provides great exposure to every project launched on this platform. In addition, crypto users and investors have permissionless access to Kickstarter projects on Polkastarter.
How Does Polkastarter Work?
Polkastarter is a solution for both blockchain project creators and investors. Project developers can apply by submitting an application with all required data. After approval, it is possible to start IDO and collect tokens. All the users of the platform can apply to participate in an upcoming IDO. It is only necessary to purchase some POLS tokens, apply for the white list of the project you are interested in, and wait for the start of IDO. After that, users can grab their tokens.
