Dire predictions about the downfall of digital currencies were in the air when COVID-19 hit the world! Surprisingly, however, their attraction has not diminished in any way! In fact, new coins/tokens and blockchain networks are making their entry all the time. One such entrant is Polkastarter (POLS). For more information, you can visit the home page of the bitcoin code trading robot.
An Introduction to Polkastarter
Polkastarter came into being in December 2020. Within a span of two years, it has managed to acquire a magnificent global reputation. Initial DEX offerings (IDOs), especially, love using this platform! Furthermore, since January 2022, the platform has begun to operate on the highly-popular Ethereum blockchain.
However, what is Polkastarter?
Polkastarter refers to a blockchain platform. The design is such that it can behave as a suitable launchpad for cross-chain auctions and pools of tokens. Cross-chain refers to technology that enables interoperability between diverse blockchains. In other words, they may communicate with one another, as well as, share data.
The team that founded Polkastarter is endowed with 30+ years of experience in tech arenas. Currently, Tingo Martins, the co-founder, is the CTO. Daniel Stockhaus, another co-founder, is the CEO.
Polkastarter is very easy to handle. It is why blockchain projects, which are still in an early stage of functioning, go for it in a big way. These projects require capital to move ahead. They also need a base from which they may distribute their tokens easily. To sum up, the Polkastarter platform is excellent for cross-chain blockchain fundraising.
Various Aspects of Polkastarter
Fixed Swap Smart Contracts
It is possible for Polkastarter blockchain projects to come up with original cross-chain swap pools. In turn, this would help them to raise funds safely. However, swaps may go ahead only with the assistance of smart contracts. It is why they are known as swap smart contracts. They ensure that everything happens automatically. Therefore, users may invest safely, without fear of risks.
Polkastarter projects find it easy to initiate liquidity pools, which carry out orders at fixed prices. The AMM model, made famous by Uniswap, has no role to play here. Therefore, Polkastarter thrives on fixed swap smart contracts.
The advantages of this feature, include –
- Easy calculation of the number of tokens sold, and the funds raised.
- Even distribution of investors, geographically, and demographically.
- Token holders are able to obtain tokens at standard prices.
Array of Auction Types
The design of Polkastarter is such that it can take control of diverse auction types. They include dynamic ratio swaps, fixed ratio swaps, duct auctions, sealed-bid auctions, etc.
Such auctions are great for digital currency-based projects that are keen on fundraising. Polkastarter has some more use cases too, such as private trading OTC dealings, and discounted sales.
Native Utility Token
It is POLS. It proves useful for paying transaction charges, governance, gaining eligibility, and liquidity mining. The Polkastarter platform is perfect for pools inviting participation from POLS holders only.
Fast and Cheap Capital
Polkastarter makes it possible for decentralized projects to raise and exchange capital, inexpensively and rapidly.
Users will feel comfortable in a compliant and secure atmosphere. They may utilize assets going beyond the standards of the currency ERC20.
Polkastarter relies on the Polkadot Network. Therefore, it is capable of processing around 160,000 transactions every second.
In the future, the figure may go up to a million transactions every second, especially when urgent.
POLS, the native token, is responsible for governance.
Therefore, any stakeholder may enter the network ecosystem. The entry may take place through voting. One type of voting is on the diverse types of auctions taking place. The other is related to token utility. A third is linked to additions/changes/deletions made to features of the product.
The linkage between Polkastarter and Covalent
Covalent is a unified API (application programming interface). Therefore, it permits visibility and transparency to digital assets across the varied blockchain networks.
One such use case is to display the intricate details of a crypto wallet. Therefore, users of Polkastarter find it easy to discover the trustworthiness of a token contract. Thanks to covalent, they may find out details regarding verifications, transaction volumes, age of token contracts, etc.
Key Features for the Future
In the future, the Polkastarter platform will become renowned for liquidity mining, anti-fraud capabilities, complete KYC integration, and permissionless listings.