All Pinnacle Facts About What Is Polkastarter And How Does It Work?
30 May 2022
As the cryptocurrency sector grows, a number of new platforms have developed with the goal of providing early-stage blockchain start-ups with the money they so desperately need. Polkastarter is seemed to be the potential harbour that many travelers would like to start the journey. What exactly is Polkastarter, and why does it get a lot of interest from new projects and new individuals who want to take part in their whitelist?
Polkastarter is a utopia for project creators who would want to IDO on the platform’s launchpad in order to have a successful initial starting. If you are looking for more information on the Polkastarter project, you should look into exploring the bePAY platform. You will find here all the information that you need to know about Polkastarter projects, Polkastarter token, and what is Polkastarter used for? Whether or not is Polkastarter a good investment?
What Is Polkastarter?
Polkastarter is an IDO launchpad for multi-chain token pool decentralization. It let crypto businesses raise funds in a fixed-swap pool and issue new tokens to early investors. Daniel Stockhaus, Tiago Martins, and Miguel Leite launched Polkastarter in the year 2020.
As of the first quarter of 2022, it has helped more than 100 projects generate $45 million through public and private sales. In addition to IDOs, the platform offers GameFi launchpads, metaverse land sales, and further NFT sales.
Polkastarter is a Decentralized Exchange (DEX) that was developed with decentralized finance (DeFi) in mind. It provides an architecture that enables multiple blockchain protocols to interact decentralized with one another.
This implies that many blockchains are interoperable with one another, which enables a plethora of features and advantages. Polkastarter was made feasible since it was constructed on the Polkadot network.
What is Polkastarter?
With Polkastarter, any decentralized organization may simply generate funds using its DEX. They may offer any token for trade on the DEX, as well as utilize it to generate cash via a sealed-bid auction or a Dutch auction.
One advantage of Polkastarter is that users may trade assets without being constrained by a standard like ERC-20 or BEP-2. In addition, the cross-chain swaps benefit from quicker transaction processing times.
The POLS is the native token utilized in the Polkastarter ecosystem. It has a total quantity of 100 million tokens with 56.5 million tokens in circulation.
The POLS token is a unique and innovative digital asset that gives its users access to a number of features and benefits. Here are some of the most important parts of the token:
- Low fees: The POLS token has low fees, so everyone can buy it.
- Security and privacy: The POLS token is made in a way that makes it as safe and private as possible. It protects all user information and transactions with high-quality encryption.
- Easy to use: Because the POLS token is easy to use, it is a good choice for everyone.
- Fast and effective: The POLS token is fast and effective, which makes it easy and quick for users to make transactions.
- Global reach: This token has a global reach, so people from all over the world can use it.
- Decentralization: Because the token is not controlled by a single group, it is said to be decentralized. This makes sure that all of the users’ money stays in their own hands.
The POLS token is a digital asset that is up-to-date and has a lot of features and benefits to make its users happy. It works well, is quick, and safe, and the fees are low. It is also decentralized and used all over the world, which makes it great for all users.
POLS is a utility token that is used on the Polkastarter platform. It is mostly used for Polkastarter staking, governance, and mining for liquidity.
Governance: If you own a governance token, you can vote on important things like protocol features and which tokens will be shown on the network. They can also vote on how the network’s fees are set up. The POLS currency is used to pay for transactions on the platform. In the end, the network will move to a DAO governance structure that is fully automated.
Staking: The token can be used to bet on different things to get staked rewards on different fronts. For example, it can be bet to get rewards from the pool or to get into the pool. Keep in mind that staking Polkastarter token POLS for pool access is not a given and is up to the creator of each pool. Still, allowing Polkastarter staking for pool access is the best way to give top liquidity providers private access to high-end pools.
Liquidity mining: The native currency of Polkastarter can also be staked to take part in liquidity mining. Among other things, rewards are given to entities that provide liquidity on the secondary markets.
Polkastarter tokens utilities
>> Learn more about what is governance token?
How Does Polkastarter Work?
Polkastarter is a permissionless Decentralized Exchange (DEX) that was made to make token pools and auctions that work across different chains. It lets people raise money in a decentralized way, and it was inspired by Polkadot’s permissionless, cross-chain features. It makes it possible for new projects to get money from both regular people and professional investors.
The project thinks that a strong environment for fundraising and trading tokens can only exist if there is an active and involved community. It also thinks that the future of raising money will be completely decentralized, but that it can only grow if it allows interoperable token swaps on a well-run platform and gives the community incentives to work together.
How does Polkastarter work?
What Is Polkastarter Used For?
By letting crowdfunding happen, Polkastarter is making it easier for cryptocurrency projects to raise money. This is good for the companies that use the ecosystem, but it can also help buyers get discounts during auctions. Users also have access to full Know Your Customer (KYC) integration, and in the future, a fully working DAO will be in charge of governance.
There are some things about Polkastarter that you can’t find in other DEX projects. The Polkastarter network is better than other projects in the same field because it promises to have:
Functionality: Polkastarter makes it easy to switch between different blockchain protocols by using sharding technology. This makes it possible for blockchains to work together, so users can trade tokens from any network.
Transaction speed: As the number of users on a blockchain grows, transaction speed can become a problem. Because Polkastarter uses the Polkadot network, it can easily handle 160,000 transactions per second and can go as high as 1 million transactions per second if it needs to.
Governance: Because the native POLS token is used for governance, any user who has it can take part in the network ecosystem by voting on the different auction types, token utility, and changes, additions, or deletions to product features. Cross-chain transactions aren’t the only thing Polkastarter makes possible. It also makes it easier for the protocols of different blockchain networks to share data.
Interoperable Token Pools: Polkastarter offers cheap transactions, secure, ultra-fast swaps, a user-friendly design, and the ability to buy and move assets between blockchains.
What is Polkastarter used for?
How To Get On Polkastarter’s Whitelist: Tiers Rules
On Polkastarter, only users with the most POLS Power are guaranteed to be whitelisted. In essence, POLS Power is an aggregator that figures out how much POLS the user has in several places. This includes the number of tokens in the user’s wallet, the number of POLS the user has set aside to take part in the IDO, and any LP tokens the user may have.
The first requirement to get on the whitelist is 250 POLS Power. This means that a user with 250 POLS Power gets one entry ticket to every IDO they join. As this number goes up, so do the chances of being whitelisted. For example, a user with 750 POLS Power will have 3 tickets, and so on. There is only one chance to get on the whitelist. If you buy more than one ticket, your chances of winning go up, but not the amount you can win.
On the Polkastarter, the POLS Power goes from 1 to 5. As the level goes up, so does the value of each individual ticket.
- POLS Power + 250 = 1.0x – With ticket is worth 1 ticket.
- POLS Power + 1,000= 1.1x – With ticket is worth 1.1 tickets.
- POLS Power + 3,000= 1.15x – With ticket is worth 1.15 tickets.
- POLS Power + 10,000= 1.20x – With ticket is worth 1.20 tickets.
- POLS Power + 30,000= 1.25x – With ticket is worth 1.25 tickets & No Cooldown
Therefore, users are encouraged to keep all of their POLS in one wallet instead of putting them in different wallets to increase their chances of being chosen.
A Cooldown Period is also used by Polkastarter to make the ecosystem fairer. This means that after a user joins an IDO successfully, they can’t join another IDO for 7 days.
Whitelist tier rules
>> For those who first come to the crypto world this is an article about what is IDO?
Polkastarter Pros & Cons
Polkastarter is a platform that is still pretty new and has a lot of work to do. It has a lot of benefits for its users and partners, but there are some things that could be done better. Here are some of the best and worst things about Polkastarter.
Blockchain interoperability: Users of Polkastarter Launchpad can join token pools that are connected to different blockchain protocols, like Binance, Ethereum, and others.
Access without permission: Any user can use the Polkastarter platform’s token listings, transactions, and IDOs.
Cross-chain token swaps: On this platform, you can trade cryptos from different blockchains.
Volitarity – The native token of Polkastarter, called POLS, is very volatile right now, which means that its price changes a lot.
Overall, Polkastarter has a lot of great features, and as it gets more popular, its POLS token will eventually become stable.
Polkastarter pros & cons
FAQs About Polkastarter
Is Polkastarter A Good Investment?
Potentially. Experts definitely seem to think that the price of the Polkastarter tokens will keep going up in the long run.
But it’s important to know that cryptocurrencies are very volatile and that analysts’ predictions aren’t always right. Before you put money into something, you should always do your own research.
Is Polkastarter Safe?
The people who make Polkastarter care a lot about how safe their product is. No one has found a way to hack the Polkastarter launchpad.
Where Can I Buy A Polkastarter Token?
The POLS token from Polkastarter can be bought and sold on several exchanges, including Binance, Huobi, KuCoin, and Gate. You can also check Coinmarketcap and Coingecko, which are the two most reliable sources of information about cryptocurrency, for a full list of exchanges and trading pairs.
Where can I buy a Polkastarter token?
Polkastarter looks like a very interesting project thanks to the work of skilled developers. Fixed swaps were first used on Polkastarter, which was the first launchpad to use them. Polkastarter token POLS is one of the most stable and interesting tokens on the market because you can stake them and mine for liquidity.
IDO projects that want to be part of the platform are also chosen with care. The great start of the project has shown that Polkastarter’s launchpad has a lot of potentials. We can only hope that its developers won’t slow down and will keep surprising their users with useful new ideas.