Polkastarter is a decentralized fundraising platform that allows blockchain teams and companies to fund and launch their projects. It empowers projects to create multi-chain token pools while raising funds and growing their communities.
POLS is the platform’s utility and governance token. To participate in an IDO on Polkastarter, users need to hold or stake POLS to boost their POLS Power.
IDO (Initial DEX Offering) is a popular crowdfunding method in the blockchain space. Among the various IDO platforms, Polkastarter is gaining popularity for its scalability and interoperability. By choosing Polkastarter, blockchain projects can increase their exposure, grow their communities, and tap into a pool of advisers and partners.
What is Polkastarter?
Polkastarter is an IDO launchpad for decentralized and multi-chain token pools. It allows crypto startups to raise capital in a fixed-swap pool and distribute their new tokens to early investors. Polkastarter was founded in 2020 by Daniel Stockhaus, Tiago Martins, and Miguel Leite.
Key features of Polkastarter
Polkastarter is a multi-chain decentralized fundraising platform that offers low transaction fees. With Polkastarter, new projects can launch on different blockchains, including Ethereum, BNB Chain, Polygon, Celo, and Avalanche. They can also accept any tokens that are compatible with these networks during the IDO sales. Let’s take a closer look at the key features Polkastarter offers.
Fixed Swap Pools
Projects can also set up pools with additional parameters to exercise more control over their fundraisings. For example, they can control the maximum investment per user or the number of investors allowed in the pool. The entire process is controlled by smart contracts, which ensure a fair and transparent token distribution.
IDO farming is designed to lower the selling pressure, and it works similarly to other staking farms. The longer they stake, the higher the rewards they can get. And with every user that withdraws their stake, the APY of the pool will go up, giving the remaining stakers an even higher yield.
What is POLS?
POLS is the utility token of the Polkastarter ecosystem. It’s an ERC-20 token with a maximum supply of 100 million. POLS is running mainly on the Ethereum blockchain, but there is also a BEP-20 version available on the BNB Smart Chain.
What is POLS Power?
POLS Power determines your chance of participating in an IDO and NFT sale. It’s an aggregator that calculates the eligible POLS balance users have across the platform, including POLS in their wallet and the POLS that they’re staking. To gain access to an IDO, users need to get their wallet addresses on the “allowlist”. It’s a lottery system that rewards users 1 ticket for every 250 POLS. During an IDO, addresses are chosen at random.
With more tickets their chances of being selected will be higher. With more POLS, the value of the tickets will also increase. There are 5 tiers of POLS Power, which can increase the value of each ticket by up to 25%. The top tier (30,000+ POLS) will also grant users the “No Cooldown” status, meaning they can participate in as many IDOs as they wish, provided they pass KYC.
How to gain POLS Power
How to participate in an IDO or NFT sale on Polkastarter?
2. Click [Apply Now] and fill in some basic information to join the allowlist.
3. The project team will process all applications, and the allowlist lottery will be generated based on all applicants’ POLS Power. It’s up to the projects to determine how many users they allowlist, so your chance of successfully participating in the sale will vary.
4. If you’re lucky and get allowlisted, you’ll need to complete KYC verification. Also, make sure you have sufficient funds in your respective chain wallet before the sale.
5. On the day of the launch, go to the project page and click [Join], enter the amount you want to contribute and click [Join Pool]. Once the transaction is confirmed, you’ll see a confirmation on the [Allocations] page. You can then claim your tokens after the IDO ends, according to the vesting schedule.
How to buy POLS on Binance?
1. Log in to your Binance account and go to [Trade]. Select either the classic or advanced trading mode.
Polkastarter is a great platform for new businesses and startups to raise capital and start their crypto projects. It can also provide investors easy access to the newest blockchain projects. In addition to Fixed Swap Pools, POLS staking, NFT sales, multi-chain support, and all the existing features, Polkastarter is also planning to upgrade its governance model, so users can get more involved in the decision-making process and overall development.