- Polkastarter enables startups and other projects to attract capital through token auctions and inter-blockchain token pools
- Polkastarter scores better than existing decentralized exchanges and swap protocols
- “POLS can be considered as an amazing long-term investment“
Interoperability has become the latest trend in the crypto world, while also being a crucial element for upcoming DeFi projects. With many interesting projects coming into the crypto space lately, Polkastarter is one of such exciting projects that is built on Polkadot which has powered crypto world.
Polkadot ecosystem itself has huge potential to storm the crypto makets. With their developers, they have used this technology to build brand new projects which will bridge the shortcoming of existing ones. Polkastarter is such a project, and one that brings interoperable token pools to the Polkadot ecosystem.
What is Polkastarter?
Polkastarter is a Cross-chain Decentralized Exchange (DEX) built on Polkadot for token pools and auctions. The Polkastarter platform serves as a decentralized crowdfunding launchpad for upcoming crypto projects to raise capital and build a dedicated community.
In other terms, Polkastarter enables startups and other projects to attract capital through token auctions and inter-blockchain token pools. The innovation behind Polkastarter includes the interoperability of Polkadot and the liquidity of Ethereum and other blockchains. With cross-chain development, the Polkastarter DEX includes token standards far beyond the Ethereum ERC-20 tokens.
Further, Polkastarter taps into the strengths such as high transaction speed, scalability, and upgradeability of Polkadot to enable governance through community voting and staking.
With all these features, the project scores better than existing decentralized exchanges and swap protocols such as Uniswap, Bounce, and Primablock. For instance, these networks don’t support cross-chain pools, while Bounce and Primablock support only a limited array of virtual assets.
How Polkastarter try to become superior?
Polkastarter differs from other similar projects that exists in the crypto space as it allows, inter-chain swaps, fixed & dynamic swaps, decentralized and permissionless token listing, high slippage price alerts, full KYC integration, and ability to built-in anti-scam features. By combining these features, it has reduced the cost of transactions, fasten cross-chain token swaps, and a user-friendly design.
To achieve complete decentralization, the Polkastarter protocol’s permissionless environment has made it completely open-source. This means that developers can implement Polkastater’s core framework into their own project for the creation and sales of fixed token auctions.
The Polkastarter network’s native token is called POLS, which it uses for various sections on the platform. POLS’s total supply amounts to 100 million tokens. 22,500,000 of which are committed to liquidity – split between liquidity token rewards and secondary liquidity provision. Nearly 43% of POLS tokens were sold during the seed sale, private sale, and Uniswap listing.
POLS token has been designed for several causes. These are basically, POLS tokens can be used to pay for transaction fees, POLS token will be used for community governance as part of their recently announced Polkastarter Council for Governance, and POLS token can be used to gain early or limited access to token pools on Polkastarter through staking.
Polkstarter (POLS) price action
Since its launch in October, 2020 POLS price has shown an exponential improvement. From January 2021 onward, its price has rallied by more than 500%, currently showing a value closer to $5.
As CoinTelegraph highlights, the main reasons for significant growth in POLS are from the strong rally seen from Polkadot, strategic partnerships and exchange listings and an expanding list of token launches via auctions.
Meanwhile, WalletInvestor has identified POLS as an amazing long-term investment. Based on their forecasts, a long-term increase in price is expected, they predicts the price to be almost $30, by February, 2026.
By creating a dedicated community of POLS token holders, Polkastarter is changing the way cryptocurrency projects raise capital. This new incentive model is proving to be a huge success.
Furthermore, Polkastarter aims to bring higher throughput to DeFi, with faster and cheaper transactions, while harnessing liquidity from several blockchains simultaneously. The demand for Polkastarter auctions has been phenomenal and it will continue to grow.