For decentralized finance (Defi) to cross the tipping-point of mass adoption, there must be a solution able to house multiple blockchains under an interactive umbrella, independent of custodial supervision. Such solution will also serve multiple cross-chain interactions, like crypto exchanges.
While there are some token swapping protocols in the Defi space, executing this already; they, however, do not make provision for early-stage projects and are limited in cross-chain exchanging.
In this post, we are officially proposing Poolz for the first time, as a liquidity pool exchange, adopted for both early-stage liqudity provision, as well as, for existing tokens and eventually for cross-chain token exchange.
So, if you are on the lookout for enough liquidity to bootstrap your Defi token-based project, or a safe place to invest in early-stage Defi startups, or you are just here for learning purposes, you most likely will be getting more than you expect.
Rethinking Initial offerings with Defi
Since the rise of Defi protocols, decentralized exchanging (DEX), via liquidity pooling have been gaining alot of traction. When compared to centralized exchanges, however, dex protocols seem very limited in what they can execute. A good example of this limitation is with initial startup funding and market entry liquidity.
ICOs and later IEOs use to be the best solution for entry funding and market liquidity. Unfortunately with the trust issues, saturation of ICOs and IEOs and the high cost of listing as well as executing successful IEO, low budget innovators, with prospective solutions are finding it impossible to get that minimum required funds to reach the required critical mass for scaling.
On the contrary, our vision with poolz is to take the liquidity pool rationale a step further, into unlocking the possibility of liquidity pooling for blockchain startups in need of funding and that initial market entry liquidity and to do this across all open blockchains.
Today we are very excited to share the Poolz vision with you. With poolz, we envision a trustless crypto market, which offers prospective startups, unbaised access to a willing and liquid market, able to get the project of the ground. By extension, this takes away the need and cost for ICO and IEOs, as well as the regulatory requirements that follows.
While there are several pioneering platforms offering liquidity pooling opportunities, the idea with Poolz is to make liquidity pooling available for the pre-listing phase of the project, and for existing assets too. So it takes out that initial barrier to entry hurdle suffocating great solutions without the means for a grand market entrance.
(Skip to the next section, if you already understand Liquidity Pools!)
Traditionally, the process of providing liquidity to a market is through market making. This is where selected high volume market players, provide liquidity at a discount in their favor. However it comes with custodial limitations and monopoly problems. Sadly, this is the method been used by centralized crypto markets.
On the contrary, liquidity pools, rely on automated market making, executed by the Poolz protocol. In this situation, any willing party can play market maker and get to purchase tokens at faries discount and still get rewarded by the protocol. What is more, this comes with the trustless protection of a Defi protocol.
Poolz is built as a DAO protocol on ethereum, and the premise of the Poolz operations and governance is that, the community gets to decides how governance and operations will evolve, going forward. So even though our team get to set the initial operations, the community still gets to decide how it eventually evolves.
Please note that, this overview is not an exhaustive representation of the overall Poolz operations. That will be available in the litepaper. What is captured here is a brief summary of the its operation:
Broadly, there are two categories of Poolz users. One involves the Project Owners or Pool Creators, while Investors or Liquidity Providers (LP) comprise the other. In this section, we discuss available pool types, the user flows, pool states, and Poolz’s governance model.
There will be two types of pools on the platform — Direct Sale Pools (DSP) and Time-Locked Pools (TLP).
Any pool on the Poolz platform will have
Upon onboarding, project owners first need to select the blockchain protocol relevant to their project, as well as a cryptocurrency wallet.
In the MVP stage, Poolz supports projects based on Ethereum and the MetaMask wallet.
In the future, the platform will support other blockchain ecosystems. Moreover, users will be able to integrate wallets like WalletConnect, Coinbase Wallet, Fortmatic, Portis, as well as other non-ERC20 wallets.
Project owners can initiate a pool by clicking on the ‘Create a Pool’ button. Since Poolz follows a strict non-intervention policy, project owners or POs need to specify the following parameters:
After filling the details, POs need to click on the ‘Start’ button to register their pool on the Ethereum blockchain (eventually, on other blockchains relevant to their project). This will also initiate the following transactions from the chosen wallet:
Project owners will pay two categories of fees, to be used for the development and maintenance of the platform. For the share of auctioning tokens reserved for $POOLZ holders, the fee will be 0.15% of the total liquidity generated. For the rest, it will be 0.2% of the total liquidity raised. In the future, governance can take a vote to change the fees percentages.
Poolz has a marketplace-like UI, where liquidity providers or LPs will be able to browse all pools hosted on the platform — past, ongoing, and upcoming. At this stage, they will have preliminary access to the following information about the pools:
Supported Blockchains & Wallets: Although LPs can browse the above information, to participate in the pools they have select a blockchain ecosystem of their choice and connect a relevant wallet. In this regard, they will have the same choices as project owners.
Once this is done, the LP can click on the ‘Join’ button for their chosen pool. In the setup interface, they need to input either the amount of auctioning tokens that they want to buy or how much ETH/DAI they want to invest.
Whichever is the LP’s input, Poolz’s algorithm will automatically calculate the corresponding values based on the pool’s data.
Liquidity providers get swapping rewards for participating on the Poolz network, in proportion to their contribution and the total liquidity deposited over the current week. Swapping rewards on the platform will be calculated and disbursed every 4 hour and in weekly cycles. However, this can be altered by governance in the future.
**Mechanism: **Suppose, LP (A) contributes to Pool (1) in the first 4-hour slot of Day(1) — Week(1). Now, if LP (A) is the only investor during this period, he/she get 100% of the swapping reward for that slot. Then, say, on the third 4-hour slot of Day (2) — Week(1), LP (A) would still be eligible for swapping rewards, but in proportion to the total liquidity deposited in the meanwhile. Likewise, LP (A) continues to get some reward for the remaining week.
On January 15, we will list the $POOLZ token on Uniswap. You will be able to buy $POOLZ easily from the Uniswap application. This is our step by step guide to help you buy our token on Uniswap after listing and to add $POOLZ liquidity.
To do so, you must note to use the below mentioned $POOLZ token address “0x0$poolztokeaddress”:
First, let’s walk you through the step by step method to buy $POOLZ on Uniswap.
Step 1: Go to App
In order to buy $POOLZ, you will first need to go to the Uniswap application. If you do not have the application yet, click here to get it.
**Step 2: Select Token **(From)
Once you’re on the application, select the token/cryptocurrency you want to trade for the $POOLZ token on the window shown below (ETH will be selected by default):
Step 3: Enter Poolz Address
After you’ve selected your preferred token, click on select a token _(To) _and enter the Poolz address — $poolztokeaddress(example- not the real contract) — in the box as shown below:
You can click on “Add” to save the address for future use:
Once you enter the address, you will be shown the Poolz token on the exchange screen.
Step 4: Enter Number of $POOLZ token
Depending on how much you want to invest in $POOLZ, enter the number of $POOLZ tokens you want to buy. Once you’ve confirmed the amount, confirm the swap by clicking on the “Swap” button.
You should then recheck the entered details and confirm the swap by clicking on “Confirm Swap.”
Step 5: Confirm Your Purchase
After you’ve made the swap on Uniswap, you need to go to your MetaMask wallet to confirm the payment. When the payment goes through, the $POOLZ tokens will be credited into your wallet.
If you want to add liquidity to $POOLZ on Uniswap, you must first understand how liquidity pools on Uniswap work. You can go through this article to get a clear understanding of the same.
Step 1: Go to Uniswap
Once you’ve understood the concept of liquidity pools on Uniswap, you need to click on this link to start adding liquidity to $POOLZ.
Step 2: Enter Amount
You can add liquidity for $POOLZ on Uniswap using any crypto token. We will use ETH as an example. When you click the link in the first step, it will lead you to the “Add Liquidity” page on Uniswap.
Depending on how much you want to invest to add $POOLZ liquidity, you can enter the amount of ETH in the first box, as shown in the snapshot below. The system will itself convert your entered amount to an equivalent number of $POOLZ token and display it in the next box.
Step 3: Confirm Supply
Having entered all required details, you can click on the “Supply” button to head to the next step for adding $POOLZ liquidity. This will lead you to the confirmation page. You can recheck the entered details and click “Confirm Supply” to finalize the transaction.
Step 4: Confirm Payment
The final step is to confirm the payment from your MetaMask wallet. You need to head to your wallet and click on “Confirm” to make the transaction.
Once you do that, you will have added $POOLZ liquidity on Uniswap. After that, every time a user trades $POOLZ tokens on Uniswap, you will earn a portion of the fees they pay.
Would you like to earn many tokens and cryptocurrencies right now! ☞ CLICK HERE
POOLZ has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy POOLZ
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step - Transfer your cryptos to an Altcoin Exchange
Since POOLZ is an altcoin we need to transfer our coins to an exchange that POOLZ can be traded. Below is a list of exchanges that offers to trade POOLZ in various market pairs, head to their websites and register for an account.
Once finished you will then need to make a BTC/ETH/USDT deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase POOLZ from the exchange.
Exchange: Hoo, Gate.io, Uniswap (V2), Bilaxy, and 1inch Exchange
Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once POOLZ gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
☞ https://www.binance.com
☞ https://www.bittrex.com
☞ https://www.poloniex.com
☞ https://www.bitfinex.com
☞ https://www.huobi.com
☞ https://www.mxc.ai
☞ https://www.probit.com
☞ https://www.gate.io
☞ https://www.coinbase.com
Find more information POOLZ
☞ Telegram: https://t.me/PoolzOfficialCommunity
☞ Telegram Announcements: https://t.me/Poolz_Announcements
☞ Twitter: https://twitter.com/Poolz__
☞ Website: https://www.poolz.finance/
☞ Github: https://github.com/The-Poolz
☞ Our live code on Discord: https://discord.gg/xwtWw4sGPp
Learn about Cryptocurrency in this article ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner
I hope this post will help you. If you liked this, please sharing it with others. Thank you!
#blockchain #bitcoin #crypto #poolz finance #poolz