What is Polkastarter (POLS) | What is Polkastarter token | What is POLS token
The adoption of DeFi (Decentralized Finance) solutions has finally arrived with hugely successful projects like Uniswap and Compound bringing billions of trading volume to the cryptocurrency market, while taking an increasing market share from centralized exchanges.
This success comes with a number of great challenges, especially in terms of scalability, with Ethereum network fees skyrocketing and slow platform performances, which leaves end-users frustrated.
Users are demanding cheap transactions, secure ultra-fast swaps, user-friendly design and the possibility to buy and move assets between blockchains. The future of decentralized finance won’t be tied to one chain and interoperability is already becoming the must-have feature of the DeFi future.
This is why we are building Polkastarter as the next step for truly interoperable DeFi. A DEX built for cross-chain token pools and auctions, enabling projects to raise capital on a decentralized and interoperable environment based on Polkadot.
With Polkastarter, decentralized projects will be able to raise and exchange capital cheap and fast. Users will be able to participate in a secure and compliant environment and to use assets that go way beyond the current ERC20 standard.
In order to leverage advantages, smooth interoperability between various networks is a key to success. The killer feature of Polkastarter is the possibility of making cross-chain swaps, powered by the Polkadot ecosystem, which can provide higher throughput for faster and cheaper transactions while staying connected to the Ethereum Network and other blockchains for liquidity.
Other features include permissionless listings, token swaps by smart contract, private pools with password, whitelisting and high slippage price alerts.
Pools will have several types of swaps, including fixed ratio swaps, dynamic ratio swaps, dutch auctions and even sealed-bid auctions.
The future is decentralized. The future is interoperable. The future is Polkastarter.
Introducing the Polkastarter Technical Roadmap
We are excited to release our initial technical roadmap. Will also outline the Polkastarter platform and our plans for the future.
The final version of Polkastarter will enable Polkadot-based token pools so projects can raise capital in a decentralized and interoperable environment. However, to fully reach our vision, since Polkadot is not ready for the deployment of smart contracts, Polkastarter’s roadmap will have two separate phases.
Phase 1 will start with the launch of a minimum viable product (MVP) on the Ethereum network. The goal of this phase is to test the swap and token sale dynamics, gather user feedback, and prepare a robust infrastructure that can be migrated to Polkadot. With a variety of EVM-compatible Polkadot projects competing to be parachains, we are confident that our work on Ethereum will enable us to bootstrap development work on Polkadot.
Phase 2 will see the full launch of the working product on the Polkadot environment, enabling Polkadot projects to raise funds in DOT or any other Polkadot-based tokens that the project chooses to raise in. Our vision is for Polkastarter to offer cross-chain pools and token sales, by taking advantage of Polkadot’s bridges such as BTC, ETH and USDT.
Polkastarter MVP Core Features
In the past few months, we’ve been actively developing the first version of Polkastarter on Ethereum. The goal for the MVP is to be a fully working fixed swap platform for ERC20 token pools, creating a marketplace that links pool creators and liquidity providers.
Pool creators will be able to create and launch fixed token swaps in a permissionless environment. Liquidity providers will be able to earn and transact in these new tokens. Community incentives such as liquidity mining will be live from day one to bootstrap network effects. Our strong and growing Polkastarter community will be incentivized to improve the usability and interface to optimize the platform experience before launching in Polkadot’s environment.
Polkastarter Homepage
Fixed Swap Pools
From our homepage, users can explore and participate in several token pools.These will be fixed swap pools, in which two or more parties exchange a fixed amount of tokens for a predetermined price.
In this initial prototype, pool creators will be able to enter pool details like token contract address, name of the pool, limit per address, type of pool access (public, private, whitelist) and, finally, token price.
We are starting with fixed swap pools because they solve one of the biggest problems in automated decentralized exchanges like Uniswap. While these exchanges are great for day-to-day spot trading, they don’t work that well for token sales. It’s usually impossible to get the initial listed token price because bots buy up all the initial liquidity. On the other hand, Polkastarter Fixed Swaps will enable a stable, organized, and fair token swap infrastructure.
Polkastarter Pool
In the Phase 1 model for Polkastarter, there will be two basic utility functions made available to POLS token holders: liquidity mining and staking for pool access.
Liquidity Mining
To incentivize participation in the daily token pools, we are launching a liquidity mining program concurrent with MVP launch on Ethereum later this year. In the manner of great DeFi projects like Synthetix and Balancer, this program will distribute a fixed amount of POLS tokens daily. All liquidity providers will receive POLS from this as-yet-undetermined fixed amount on a pro-rata basis. For example, if there is 1000 ETH in fixed swap volume for 24 hours, a user that contributed 100 ETH of that volume will receive 10% of the total daily liquidity rewards.
Liquidity providers can claim their POLS token rewards after 24 hours and will have 7 days to claim their reward tokens on the Polkastarter dashboard. Unclaimed tokens will be sent back to the rewards pool for later distribution.
Staking for Pool Access
For high-demand pools, access can be limited to the top liquidity and network contributors. Password protection and whitelisting are potential features that could provide additional limits. However, to best align the interests of the entire Polkastarter community, the POLS token can be used as a coordinating mechanism. For instance, if community members want access to certain token pools, they must stake POLS tokens. Of course, token pool creators have full autonomy over this process. For projects that use the Polkastarter platform, our goal is to craft diverse token holder communities loyal to the project and invested in its long-term success.
Pool creators can activate POLS staking to limit pool access exclusively to POLS holders. The incentive for this type of behavior from the pool creator is a reduced fee on the total swapped funds. Other incentivize mechanisms will likely arise during protocol development.
Polkastarter network users are only eligible for staking after providing liquidity to the Polkastarter pools. Contributors can lose their staking status if they stop providing liquidity to the network.
Private Pools And Whitelisting
One of the Polkastarter use cases is private fundraising and closed over the counter (OTC) deals. To enable these, we will launch with features like password protected pools and address whitelisting for pool participation.
Permissionless Listings
True decentralization only works if we build a permissionless environment. Though certain Polkastarter features may be enhanced for POLS token holders, anyone will be able to use the protocol in order to create and launch fixed swap token pools. Counter-measures to prevent bot-based and malicious pools will also be integrated.
Other Features
Polkastarter will have key features from day one, including anti-scam features preventing users from buying the wrong token. These include smart contract verification, smart contract information, token import alert and high slippage alerts. All of these mechanisms work together to make users aware that they might be buying at an unfair price. Finally, we would be remiss if we didn’t mention that the platform can be viewed in either dark or light mode.
Polkastarter Pool Index
Polkastarter Roadmap for 2020 and 2021
In 2020, our MVP will go live on Ethereum to enable pool creators to launch in a permissionless environment. This fully working and live prototype will be used to gather user feedback and stress test our infrastructure.
Here is a list of the features you can expect from the Polkastarter development team over the next year-plus:
Q4 2020 — Phase 1 (Minimum Viable Product)
- Polkastarter 1.0 (Ethereum Beta)
- Permissionless listings
- Liquidity Mining
- Key token swap information, including smart contract, swap ratio
- Fixed swap public and private pools
- Private pools with password ideal for OTC and private-sales
- Anti-scam features like smart contract verification
- High slippage price alerts
- Pool swap page with features like max pool amount
- Max investment per user limits
- English, Chinese and Korean languages
2021 — Phase 2
Our prototype will launch in the Polkadot ecosystem in 2021. This phase will include the launch of multi-chain token pools (Ethereum and Polkadot) and later the first cross-chain fixed token swaps using Polkadot’s interoperability features; KYC integration for those pools that require it; and the development of staking mechanisms like Staking for Pool Rewards and Staking for Governance.
Q1 2021
- Polkastarter 2.0
- Multi-chain token pools (Ethereum and Polkadot)
- Staking for Governance
- Staking for Pool Rewards
- Community-powered featured project voting
- Full KYC integration
Q2, Q3 and Q4 2021
- Polkastarter 3.0
- Cross-chain token swaps
- Dynamic ratio swaps
- Sealed-bid auctions
- Launch of the governance model
- R&D to migrate for a full DAO
- Governance platform
- Staking for governance
- Launch of the full working DAO
The future is decentralized. The future is interoperable. The future is Polkastarter.
The protocol for cross-chain token pools.
We are building Polkastarter as the next step for truly interoperable DeFi. A Protocol built for cross-chain token pools and auctions, enabling projects to raise capital on a decentralized and interoperable environment based on Polkadot.
With Polkastarter, decentralized projects will be able to raise and exchange capital cheap and fast. Users will be able to participate in a secure and compliant environment and to use assets that go way beyond the current ERC20 standard.
In order to leverage advantages, smooth interoperability between various networks is a key to success. The killer feature of Polkastarter is the possibility of making cross-chain swaps, powered by the Polkadot ecosystem, which can provide higher throughput for faster and cheaper transactions while staying connected to the Ethereum Network and other blockchains for liquidity.
Other features include permissionless listings, token swaps by smart contract, private pools with password, whitelisting and high slippage price alerts.
Pools will have several types of swaps, including fixed ratio swaps, dynamic ratio swaps, dutch auctions and even sealed-bid auctions.
The future is decentralized.
The future is interoperable.
The future is Polkastarter.
The POLS Token
Every blockchain-based concept comes with its own native token nowadays. Polkastarter is no exception, as its POLS token can provide some benefits. There will be 100 million tokens, with part of them distributed through seed sales, private sales
Owning POLS will not only serve a speculative purpose. The token provides governance features, paying for transaction fees through cross-chain pools on the platform, and having the ability to create new pools. A fair bit of functionality, albeit it remains to be seen where the POLS value heads in the coming months.
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How and Where to Buy Polkastarter (POLS)?
POLS 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 POLS
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)…
We will use Huobi Global 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)
After the deposit is confirmed you may then purchase POLS from the exchange.
Exchange: Huobi Global, OKEx, HitBTC, BKEX, and Hoo
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 POLS 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!
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Find more information POLS
☞ Website
☞ Social Channel
☞ Message Board
☞ Documentation
☞ Coinmarketcap
🔺DISCLAIMER: The Information in the post isn’t financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.
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