Polkastarter ended December of 2020 with some serious momentum and Polkastarter isn’t taking the foot off the pedal. After the platform successfully passed several tests and audits in the following months, a total of 1,808 ETH was raised by projects launched on Polkastarter – in a matter of weeks. With several new and exciting projects having just been launched, along with the Polkastarter Council for Governance being announced, Polkastarter is proceeding to maintain its early success by giving more and more incentives to the $POLS token-holder while routinely launching some of the most coveted and successful projects.in the space.
As more than 500 unique participants won allocations by fighting their way through a crowd of over 150,000 unique visitors, The very first Polkastarter pools sold out in less than 30 seconds. The long-anticipated launch of the MVP was hard to ignore due to hype and price appreciation. Seemingly every project that was launched on Polkastarter started trending at light-speeds due to the bullish sentiment by developers and influences in the crypto-space.
The highly successful flurry of projects launched in the final two weeks of December is proof that a new home for raising capital on the promising Polkadot network is currently being established in the crypto markets. It is important to note that not only are there are no pools with open spots to join but also the speed at which these pools get filled, a clear indication of the sentiment by the DeFi community – several projects have sold out in just a few minutes. Taking a look at the projects after the launch on Polkastarter shows a clear trend of investors’ sentiment that deserves a serious look so let’s dive right in,
SpiderDAO
SpiderDAO was the first IDO (Initial DEX Offering) ever launched on Polkastarter (sold out in thirty seconds) and is also the world’s first hardware DAO that offers a diverse set of tools to bring online privacy to the end-user by leveraging multi-layered governance. A week ago, the LAU (Liquidity as Utility) program was launched. By providing at least $500 of liquidity as a Liquidity Provider (LP), $SPDR holders/LP participants can get a free VPN subscription for as long as the tokens remain locked up.
For more information, please read the latest AMA.
Royale Finance
Royale is a cross-chain DeFi solution focused on the iGaming industry and the third project to be launched on Polkastarter. This user-centric platform creates Web 3.0 smart-backed liquidity that allows iGaming entrepreneurs to bootstrap innovation with the security and transparency of blockchain technology. This is all possible due to the suite of Provably Fair games supported by the community of token holders and ensures fair play and sustainable long-term growth for all users on the platform. The latest tweet from Royale states that the CEX debut of the $ROYA token took place on Friday, January 8th. The platform will be operating on the Ethereum network for the first few months the end goal for the Polkastarter protocol is to enable cross-chain token sales and swaps by deploying its EVM smart contracts on the Polkadot blockchain via Moonbeam.
For more information, please read the latest Medium article.
Fire Protocol
FireProtocol is the first infrastructure to Huobi Chain to assist in onboarding non-Huobi Chain assets via its wide range of cross-chain solutions. This includes integrated trading and money market with lending/borrowing services which allows for all tokens that are being traded to also be used as collateral on the lending platform. Huobi Smart Chain (HSC) offers a zero-gas fee, which currently looks like a far better alternative to Ethereum. With the recent announcements of expanding the Matic ecosystem along with the Staking Program having went live on January 10th, the $FIRE token is heating up as January 12th, 30% of the staking pools have already filled.
For more information, please read the Staking page.
ExeedMe
Exeedme is a gaming/hosting ecosystem that is powered by NFTs and DeFi to monetize the skill of gamers – without the need for any sponsors. The amount of interest received in the $XED token sale was very impressive. In less than six hours, the XED token had compiled over $6,000,000 in trading volume since being listed on Uniswap. Since then, Exeedme has not only partnered up with BetProtocol on Monday, they just announced another partnership with DIA today.
For more information, please read the latest AMA recap.
MahaDAO
MahaDAO is the world’s first non-depreciating currency and also the latest project launched on Polkastarter. After selling out the IDO in under three minutes, $MAHA shows no signs of slowing down. The staking rewards were at one point, a mind-boggling 45% APY for locking up to 200k MAHA tokens for a 90-day period. This caused major price appreciation as the demand for the token went through the roof. The MAHA staking window is currently closed at the time of writing. With the recent news of the ARTH stablecoin to launch as a Seigniorage Share, this decision should solidify the confidence of all investors as this model allows for wider growth and adoption for the $ARTH stablecoin.
For more information, please read the latest Medium article.
Polkastarter Council
With the recent announcement of the Polkastarter Council, a group of long-term token-holders that will be deciding which pools and token swaps are featured on Polkastarter and get full communication support, the future of Polkastarter is firmly in the hands of the community which should inherently increase the value of the $POLS token.
- In order to be eligible for this council, all members need to hold together around 5% (5,000,000) of the total supply of Polkastarter Tokens ($POLS) and to be active, public, and credible players in the blockchain ecosystem.
- The council will rotate, meaning that each council will be able to vote for a specific number of projects.
- Soon, more details will be released about the members’ selection, rotation times, and other important rules and philosophies for this first governance effort. In the meantime, all contributions and suggestions are welcome and will be considered.
- This is the first step towards a Governance Model, which will be open, decentralized, and democratic.
- Testing this system will begin in the first quarter of 2021 to gather learnings and prepare a more decentralized approach.
Updated Polkastarter Pools Requirements Reminder
As stated on 12/29/20, please be aware of the changes that have been put into effect regarding the participation of the token pools:
- 3,000 $POLS tokens are now required
- You must hold that amount for at least 7 days prior to the whitelist snapshot
- Sellers lose eligibility
Huobi Lists $POLS token
$POLS lists on @HuobiGlobal today at 12:00 UTC with 3 trading pairs:
- POLS/USDT
- POLS/BTC
- POLS/ETH
Conclusion
With all the recent success of projects launched on the Polkastarter, it’s no wonder the $POLS token has received so much attention – and deservedly so. The current trend of DeFi products gaining popularity on the Polkadot network looks to be increasing at a feverish pace, and with Bitcoin making all-time highs on what seems like a weekly basis, it would be irrational to expect any kind of reversal in the foreseeable future. Since the New Year, the market cap of the $POLS token has gone from $30,9 million to $62.5 million.
As more users participate in DeFi ecosystems, the potential for both Polkdadot and projects launching on the Polkadot platform looks to grow exponentially as the need for scalable solutions continually increases acrosses the board. Now, with the new governance model being incorporated into the platform, $POLS token-holders will have even more incentive to accumulate and stake their tokens.
As successful as 2020 was for Polkastarter to make a name for itself, 2021 looks to be the year where Polkastarter becomes not just a recognizable name, but a brand-name in the DeFi ecosystem – for years to come.
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Don Cheng
The Daily Chain
*Disclaimer – Polkastarter is our Media Partner, and this content is made possible with their support. The above article does not represent financial, investment, or trading advice, and we do not recommend the purchase of any cryptocurrency or product without consulting a financial aid. The Daily Chain strongly encourages you to do your own research before making any investment decisions.
