What is Polkastarter?
The Polkastarter token or POLS is the official currency of the Polkastarter platform. The latter is a completely decentralized fundraising platform built on Polkadot.
POLS has several use cases. It serves as a governance token. POLS holders can participate in the governance process by staking their tokens and voting on proposals. Additionally, this enables them to submit their own proposals. In essence, POLS tokens grant the power to determine the future development of the Polkastarter crypto project.
The Polkastarter token is also necessary for covering the transaction fees.
POLS is based on an ERC-20 token standard. It was successfully launched on Uniswap where it took only 24 hours for POLS price to increase by over 750%.
Unfortunately, Polkastarter was put in a difficult situation as fake POLS tokens were being sold on Uniswap by malicious actors at the same time as the official POLS launch. This resulted in the loss of around 30,000 US Dollars in investments.
Anyone can acquire POLS tokens via major supported exchanges. You can have a look at our recommended exchange list in the section above.
There is a max cap of 100,000,000 POLS tokens. This could mean that as the POLS tokens become more scarce, the POLS price will increase.
The Polkastarter token has been distributed in this manner:
- 27.5% - Private Sale;
- 22.5% - Liquidity Fund;
- 15% - Seed Sale;
- 15% - Marketing Fund;
- 10% - Founding Team & Advisors;
- 10% - Polkastarter Foundation Reserve.
The founding team, advisors, and the foundation reserve tokens are locked in for a certain period of time.
Since POLS is a cryptocurrency, its price tends to fluctuate. In order to make an informed purchase decision, check out the Polkastarter price history or the current POLS price on the graph above.
What are the Main Features of Polkastarter?
Polkastarter is a decentralized crowdfunding platform for blockchain-based projects. It was initially deployed on Polkadot.
Its success is blatantly clear. In just 2 years, Polkastarter has managed to fund over 100 projects and raised almost 50,000,000 US Dollars.
As discussed in the What is Polkastarter section, Polkastarter was built on Polkadot. There were several reasons for this choice, however, the main ones remain its speed, scalability, and interoperability.
The core feature of Polkastarter is its exclusive Fixed Swap Pool that enables Initial Dex Offerings (IDOs). To put it simply, it enables projects to list their native tokens at a fixed price. This provides a myriad of benefits such as reduced costs and serves as a preventative measure for rug pulls, token dumps, and unfair distribution of tokens.
Anyone can receive the latest news about new pools by subscribing to Polkadot’s Telegram channel.
Polkastarter also features liquidity mining whose main goal is to distribute the native token, POLS, on a daily basis.
Some of its other features include private fundraising options, whitelisting, and even permissionless listing. The latter means that anyone will be given the opportunity to list their own tokens on Polkastarter. To put it simply, the POLS token will not be necessary to create permissionless listings.
Although, Polkastarter users who don’t hold POLS will miss out on exclusive opportunities to participate in extra IDOs.
Private fundraising, on the other hand, includes private pools that are secured with passwords. Only whitelisted users are able to access these private pools. It’s up to the creators of the project to decide how users can get included in a whitelist.
When it comes to security, Polkastarter utilizes Covalent. It mainly serves as an anti-scam measure by supplying on-chain data to investors. This way they’re able to confirm whether token contracts are legitimate or not.
Polkastarter has managed to establish some solid partnerships with major players in the crypto industry including Covalent, Moonbeam, Orion Protocol, and Shyft.
Who Developed Polkastarter?
The Polkastarter crypto project was launched in 2020. It’s a Portugal-based fundraising platform co-founded by a team of tech entrepreneurs - Daniel Stockhaus, Miguel Leite, and Tiago Martin.
Daniel Stockhaus is the CEO of Polkastarter with years of exphttps://staging.bitdegree.org/cryptocurrency-prices/tomochainerience in digital marketing. He holds a bachelor’s degree in Communication and Media Studies and has co-founded several tech companies including an e-commerce platform, liGo, and a digital marketing agency, Oliphaunt Ltd.
Similarly, Miguel Leite is a tech entrepreneur with a background in journalism and marketing. He holds a bachelor’s degree in Journalism from NOVA University Lisbon and has been working as a journalist for over 3 years until he transitioned into the marketing role. He’s currently serving as the COO of Polkastarter.
Polkastarter isn’t the first blockchain-based project that Leite has been involved in. He was part of the founding team at Coinvision and BEPRO Network. Additionally, Leite has co-founded non-crypto platforms including FullFlex Interactive Media, Punch, and Tradiio.
The Polkastarter crypto project wouldn’t be the same without Tiago Martins. He’s the only founding member with a background in computer science. He put this knowledge where it truly matters by working at <Academia de Código_> as a Computer Science Professor.
Martins advises up-and-coming blockchain projects including BEPRO Network, Talent Protocol, and Utrust. Prior to the launch of Polkastarter, he co-founded Codeplace.com - an educational coding platform. Martins is currently taking on the role of CTO at Polkastarter.
Besides the co-founders, Polkastarter is backed by a team of more than 30 industry experts.
Polkastarters is backed by well-established venture capital firms including Astronaut Capital, DFG, Kyros Ventures, Moonrock Capital, NGC Ventures, Signum Capital, SRC Capital, and Vendetta Capital.
