What is Polka Starter (POLS)? – BeInCrypto

With the wide acceptance of DeFi solutions, the number of crypto companies offering such solutions has also increased enormously. This also changes the nature of fundraising for new projects in the DeFi area. Initial Coin Offerings (ICOs), Initial Exchange Offerings (IEOs) and Initial DEX Offerings (IDOs) are just a few of these new fundraising options.

Polar starters are changing the way cryptocurrencies raise money and focus on IDOs. In this article, we show you everything you need to know about pole vaulters.

What awaits you in this article:

What is polka starter?

Polkastarter – A video of Polkastarter

Polkastarter is a blockchain-based platform that Used to create cross-linked token pools and auctions. Many early-stage blockchain companies use the Polkastarter platform to generate funds and distribute tokens quickly. With Polkastarter, blockchain projects can easily create their own swap pools and auctions across chains to generate revenue.

POLS is the native utility token on the Polkastarter platform and performs various tasks within the ecosystem. This includes liquidity extraction, management, payment of transaction fees and participation in pools used exclusively for POLS.

Pole launches launched in December 2020 and has since become one of the most popular platforms for Initial DEX Offerings (IDOs). Decentralized projects use pole vaulters to raise money quickly and cheaply. In addition, users can trade cryptocurrencies and use assets that go far beyond the existing ERC-20 standard in a secure and legally compatible environment.

What makes Polkastarter special is the ability to make cross-chain swaps. It’s all made possible by the Polkadot ecosystem. Polkadot offers the ability to perform transactions quickly and cheaply while staying connected to the Ethereum network and other blockchains.

Other features of the Polkastarter platform include permission-free listings (does not require permission), token trading via smart contracts, password-protected private pools, whitelisting, and price alerts in the event of significant price discrepancies. Polkastarter also offers various types of swaps such as fixed ratio swaps, dynamic ratio swaps, Dutch auctions and closed bid auctions.

The team behind Polkastarter

Daniel Stockhaus and Tiago Martins are the two founders of Polkastarter and serve as CEO and CTO.

Danilo Carlucci, former Community Head (USA and UK) for YouTube, supports Polkastarter as a consultant. Carlucci is currently an angel investor and marketing and ecosystem consultant for the project. Matthew Dibb, Chief Operating Officer for Stack Funds, also serves as a consultant for Polka Starters.

The main features of Polkastarter

Polka starters are powered by Polkadot and take advantage of the unique features of the Polkadot platform. This allows Polkastarter to offer users a safe and secure trading environment.

The essential elements of Polkastarter include:

  • Trading across digital asset chains: On Polkastarter, users can trade digital assets from various blockchains. Polkadot’s relay chain enables interoperability between the different blockchains.
  • Decentralized control: Polar starters are managed by the user community. All platform – related decisions are taken by means of Community votes.
  • Security: Polkastarter takes advantage of Polkadot’s security features to protect users’ assets.
  • Speed ​​and efficiency: The Polkadot Relay network enables fast and efficient trading of assets on the platform.
  • User-friendly interface: Polkastarter’s intuitive layout makes it easy for users to trade assets.

Polkastarter is already one of the major platforms in decentralized crypto exchanges and offers users a secure trading platform for digital assets.

More unique features

Polka Starter – An image provided by BeInCrypto

If you are looking for a hassle-free, easy-to-use project management solution, Polkastarter is a great option. The platform offers everything you need to manage your projects and syncs your online accounts so you can access the latest data anywhere. With the mobile app, you can easily take the work with you wherever you go.

To centralize project-related information, Polkastarter offers features such as to-do lists, notes, and file management.

One of the best aspects of Polkastarter is how the platform works. The program synchronizes your online accounts so that all changes made in a project are instantly reflected on all devices. If you are working on a project from different locations or need project information when you are away from your computer, this feature is very useful. Polkastarter is now also available as a smartphone app. So you can access your projects anywhere.

The app is available for Android and iOS devices and offers the same features as the desktop version. Instead of the Automated Market Maker (AMM) approach known from Uniswap, Polkastarter offers one Smart contract with fixed swap. This allows projects to easily create liquidity pools, which then execute orders at a predetermined price.

Pole throwers are designed to support a range of auction formats, such as closed bids and Dutch auctions, as well as fixed and dynamic ratio swaps. The platform is therefore perfect for crypto companies that want to build capital. In addition, Polkastarter can also be used for private trading, OTC transactions and for purchases at favorable prices.

What is POLS?

POLS Token – A video of Polkastarter

POLS is Polkastarter’s native utility token and performs various tasks within the ecosystem. This includes liquidity extraction, management, payment of transaction fees and participation in pools used exclusively for POLS. POLS users can use the token to pay for transactions on the platform and vote on platform improvements or submit proposals. Coinbase currently only accepts POLS tokens based on the Ethereum blockchain (ERC-20).

The POLS token was first traded on 28 September 2020. Currently, the market value of POLS is $ 44.2 million and ranks 385 on CoinMarketCap. As of June, 93.7 million tokens are in circulation out of the total offering of 100 million POLS tokens. According to official tokenomics, the POLS token is expected to reach 100% dilution 24 months after listing. The total offer is divided as follows:

  • Fund reserves: 10%
  • Teams and consultants: 10%
  • Marketing fund: 10%
  • Liquidity fund: 22.5%
  • Seed sales: 15%
  • Private sale: 22.5%

The team tokens are blocked for one year and is then released at 25% per. quarter.

What is POLS Power?

POLS Power determines your chance of participating in an IDO and NFT sale. It is an aggregator that calculates users’ IDO-qualified POLS balances on the platform. This also includes POLS in the wallet and the inserted POLS tokens. POLS Power is a lottery system that rewards users with one ticket for every 250 POLS tokens. To access the IDO, users must put their wallet address on the “Permission List”. The addresses are then randomly selected under the IDO.

The more tickets you have, the greater the chance that your wallet will be selected. The value of your ticket also increases with the number of POLS tokens you own. The value of a ticket can also be increased by up to 25% by purchasing one of the five POLS Power levels. When you reach the highest level (30,000 POLS tokens or more), you unlock additional benefits. One of these perks is the “No cooling” status. This allows you to attend as many IDOs as you want, provided you pass the KYC exam.

How can you buy POLS tokens?

POLS Token – An image from BeInCrypto

You can buy POLS tokens on many major crypto exchanges such as Huobi Global, Coinbase, Gate.io, Binance, KuCoin and Poloniex. In addition, the POLS token is also available on most major DEXs such as Uniswap, 1inch and 0x Protocol. The floating crypto trading pairs for POLS are POLS / WETH and POLS / USDT. There is currently no direct fiat trading pair for the POLS token. However, you can buy bitcoin with fiat money and then exchange BTC for POLS tokens.

Here’s a quick guide how to buy POLS tokens on Binance:

  1. Log in with your Binance account and go to the “Trade” tab. Here you can choose between the simple and the advanced trading mode.
  2. Click on “BTC / USDT” and type “POLS” in the search field. You will then be shown all available trading pairs such as POLS / BUSD.
  3. Now enter the number of POLS tokens you want to buy in the “Spot” field on the right. You can also choose other order types such as market orders when you make your purchase. Click “Buy POLS” and you will receive tokens in your Spot Wallet.

Pole launches become the center of IDOs

Polkastarter wants to make the token launch as easy as possible and therefore offers a safe environment for investors and projects. Because Polkastarter believes in how incentives work, the platform offers users to wager rewards for donating unused POLS tokens to charities.

Polkastarter’s goals could help the platform become an integral part of the token launch space. So it’s worth keeping an eye on Polkastarter. The crypto market continues to grow and new blockchain companies can find favor with platforms like Polkastarter.

Frequently asked questions

POLS is hosted on the Ethereum blockchain.

POLS is a governance token that gives holders the right to vote on Polkastarter’s growth and submit their own proposals. This includes ideas for additional features, token benefits, and platform-listed tokens.

Experts are convinced that cryptocurrencies will rise in the long run. However, you should keep in mind that cryptocurrencies are very volatile investments and expert forecasts are often inaccurate. Always do your own research on a project or cryptocurrency before investing.

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