What is Polkastarter (POLS)? Is it a strong competitor of Uniswap?

Introduce

Polkastarter (POLS) – DEX built for pools and cross-chain token auctions

  • Polkastarter (POLS) what
  • What’s hot about this project?
  • Should you invest in the project?

This article will answer these questions in turn. And give you an overview from the general to the detailed about this project. So what are you waiting for, let’s start writing right now!

What is Polkastarter (POLS)?

Polkastarter is a DEX no permission needed built for pools and token auctions cross chain, which allows projects to raise capital on a decentralized, permissionless and interactive environment based on Polkadot.

You may be wondering:

What is Polkadot (DOT)? Things to know about DOT token

Current information

Ticker: POLS

Blockchain: Ethereum

Token Standard: ERC-20

Circulating supply: no information available

Total supply: 100,000,000 POLS

What problem does Polkastarter solve?

The adoption of DeFi (Decentralized Finance) solutions has finally come to hugely successful projects like Uniswap and Compound that bring billions of trading volume to the crypto market, while also capturing market share. increasingly from centralized exchanges.

This success comes with some major challenges, especially in terms of scalability, with rapidly increasing Ethereum network fees and slow platform performance disappointing end users.

Users are demanding cheap transactions, secure ultrafast swaps, user-friendly designs, and the ability to buy and move assets between blockchains. The future of decentralized finance will not be tied to a chain, and interoperability has become a must-have feature of the DeFi future.

To solve the above problem and capture the current needs, Polkastarter was born. Specifically, please continue reading below.

How does Polkastarter offer solutions?

With Polkastarter, decentralized projects will be able to raise and exchange capital cheaply and quickly. Users will be able to participate in a safe and compliant environment and consume content that goes beyond the current ERC20 standard.

Projects and startups can raise funds on Polkastarter’s decentralized and interoperable infrastructure.

The technology could also have other uses, including closed OTC transactions with password protection, sales discounts with whitelisted addresses, and even being used to raise capital. from the community in the future.

How is Polkastarter different from existing DeFi projects?

Polkastarter is focused on solving Uniswap’s biggest challenge: running token sales fairly. We do this by providing fixed swap pools, allowing users to participate in token sales without worrying about bots or high price slippage.

Main features of Polkastarter MVP

Fixed Swap Pools

We are starting with fixed swap pools because they solve one of the biggest problems in automated decentralized exchanges like Uniswap. While these exchanges are great for day-to-day spot trading, they don’t work well for token sales. Usually, it is not possible to get the initial listed token price because the bots buy up the initial liquidity. On the other hand, Polkastarter Fixed Swaps will enable a stable, organized and fair token swap infrastructure.

Liquidity Mining

Following the way of great DeFi projects like Synthetix and Balancer, this program will distribute a fixed amount of POLS tokens daily. All liquidity providers will receive POLS from this still unspecified fixed amount on a pro rata basis. For example, if there is 1000 ETH in a 24 hour fixed swap volume, a user who contributed 100 ETH in that volume will receive 10% of the total daily liquidity reward.

Liquidity providers can claim their POLS token reward after 24 hours and will have 7 days to claim their bonus token on Polkastarter dashboard. Unclaimed tokens will be sent back to the rewards pool for later distribution.

Staking for Pool Access

For high demand pools, access can be limited to the top liquidity and network contributors. Password protection and whitelisting are potential features that may provide additional limitations. However, in order to best align the interests of the entire Polkastarter community, the POLS token can be used as a coordination mechanism. For example, if community members want access to certain Pool tokens, they must stake POLS tokens. Of course, the token pool creator has full autonomy in this process. For projects using the Polkastarter platform, our goal is to create diverse communities of token holders that are loyal to the project and invested in its long-term success.

Private Pools and Whitelisting

One of the Polkastarter use cases is private fundraising and over the counter (OTC) trading. To enable these, we’ll launch with features like Password Protected Pools and whitelist addresses to join pools.

Permissionless Listings

True decentralization only works if we build a permissionless environment. While certain Polkastarter features may be advanced for POLS holders, anyone can use the protocol to create and launch fixed swap token pools. Countermeasures to prevent bot-based and malicious pools will also be integrated.

Other features

Anti-phishing features prevent users from buying the wrong token. These include smart contract verification, smart contract information, token entry alerts, and high slippage alerts. All of these mechanisms work together to make users aware that they may be buying at an unfair price. Finally, we would be remiss if we didn’t mention that the platform can be viewed in dark or light mode.

Information about tokens

What is POLS?

POLS is the utility token of the Polkastarter network

Token Use Cases

POLS is used to:

  • Administration
  • Staking
  • Liquidity Mining

Governance infrastructure that allows the community to vote; several types of staking mechanisms, including stakes for group access, stakes for governance, and stakes for group rewards; and last but not least, liquidity providers can claim POLS rewards for contributing to the network.

POLS Token Allocation

Private Sale: 27.5%

Liquidity Fund: 22.5%

Seed Sale: 15%

Marketing funds: 15%

Foundational Reserve: 10%

Team & Advisors: 10%

Token Release Schedule

Source: Polkastarter Whitepaper

Release Details

● Seed: 20% unlocked before listing, then 10% monthly for 8 months.

● Private: 25% unlocked before listing, then 25% monthly for 3 months

● Liquidity: 22.22% unlocked before listing, then 8.88% monthly for 5 months, then 6.67% monthly for over 1 month, then 4.44% monthly for 6 month

● Marketing: 20% unlocked before listing, then 6.67% monthly for 12 months

● Team & Foundational tokens: 1 year fully locked, then 25% quarterly.

What exchange is POLS currently on?

Currently, POLS tokens are traded on Uniswap exchange (V2)

Similar projects?

Team, Partners and Investors & Advisors

Team

Source: Polkastarter Whitepaper

Partners

Shyft Network

Polkastarter is partnering with Shyft Network, a blockchain public protocol that enables encrypted, authenticated, and secure data transmission and allows anyone to develop applications and infrastructure for global citizenship. , trusted data and regulatory-compliant privacy, to provide an end-to-end global whitelisting solution for all pool creators and to provide new opt-in compliance guidelines for institutional capital formation and compliance incentives.

Covalent

Polkastarter is excited to announce a technical partnership with Covalent, a unified API service that brings together data points from blockchain systems to serve the needs of DeFi and other blockchain applications.

Orion Protocol

Polkastarter is integrating with Orion Protocol to utilize Orion’s Liquidity Boost Plugin, enriching Polkastarter’s DEX with bottomless cross-swap liquidity to provide automated liquidity for token swaps and pools. With this integration, Polkastarter ensures continuous operation and liquidity across several ERC-20 token pools.

DIA (Decentralized Information Asset)

Polkastarter is partnering with DIA (Decentralized Information Assets) as part of its plan to decentralize DeFi and DeFi data sourcing products. With this partnership, Switzerland-based, open-source oracle platform, DIA will enable the sourcing, verification and use of data from its network participants within the Polkastarter Ecosystem.

Investors & Advisors

Investors

Advisors

Source: Polkastarter Whitepaper

Roadmap

Q4 2020 – Phase 1 (Minimum Viable Product)

● Polkastarter 1.0 (Ethereum Beta)

● Permissionless listings

● Liquidity Mining

● Key token swap information, including smart contract, swap rate

● Fixed Swap of Public and Private Pools

● Private pool with password ideal for OTC and

private-sales

● Anti-phishing features like smart contract verification

● High slip price warning

● Pool swap page with features like maximum Pool amount

● Maximum investment limit per user

● English, Chinese and Korean languages

2021 – Phase 2

Q1 2021

● Polkastarter 2.0

● Multi-chain token pools (Ethereum and Polkadot)

● Staking for governance

● Staking for Pool Rewards

● Vote for community-supported featured projects

●Full KYC Integration

Q2, Q3 and Q4 2021

● Polkastarter 3.0

● Cross-chain token swaps

● Dynamic ratio swaps

Media channel of the project

Website

Twitter

Telegram

Linkedin

Medium

Should you invest in the project?

Through what GocTienAo shared with you, and for me personally, this is a good project that solves many problems encountered. Please review and make your own investment decision.

Conclude

The above article has provided you with an overview to details of the Polkastarter project. Hope GocTienAo has given you useful information about the project. If you find it interesting, please share the article with your friends!

All investment statements above are personal. All investment decisions are made by you and you are responsible for your assets. Good luck!

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