Polkastarter (POLS)
Polkastarter (POLS) is a cryptocurrency and decentralized exchange (DEX) designed for cross-chain token pools and auctions. It allows projects to raise capital in a decentralized and interoperable environment built on Polkadot. Polkastarter 1.0 Beta went live on Ethereum Mainnet on December 15, 2020, with Polkastarter 2.0 planned for launch on Polkadot in the first quarter of 2021.
Overview
Polkastarter is a permissionless DEX that facilitates cross-chain token pools and auctions, enabling projects to raise capital within the Polkadot ecosystem. The development roadmap for 2020 and 2021 is divided into two phases.
Development phases
| Ticker | POLS |
| Category | Decentralized Finance (DeFi) |
| Website | https://polkastarter.com/ |
| @polkastarter | |
| Telegram | polkastarter |
| Contract Addresses | |
|---|---|
| ethereum | 0x83...aa Copied! |
| binance-smart-chain | 0x7e...70Copied! |
Phase 1
Phase 1 commenced with the launch of a minimum viable product (MVP) on the Ethereum network. This phase focused on testing the swap and token sale dynamics, collecting user feedback, and establishing a solid infrastructure for migration to Polkadot. Highlights of this phase included Polkastarter 1.0 (Ethereum Beta), permissionless listings, liquidity mining, fixed swap pools, private pools with password protection, smart contract verification, high slippage alerts, and multilingual support.
Phase 2
Phase 2 involves the full launch of Polkastarter on Polkadot, allowing projects to raise funds in DOT or other Polkadot-based tokens. Features include Polkastarter 2.0, multi-chain token pools, staking for governance and pool rewards, community-powered project voting, and full KYC integration.
Polkastarter MVP core features
The MVP aims to be a fully functional platform for ERC20 token pools, connecting pool creators and liquidity providers. Pool creators can initiate fixed token swaps in a permissionless setting, while liquidity providers can earn and trade new tokens. Liquidity mining will be active from the start to foster network effects.
Fixed swap pools
These pools enable the exchange of a fixed amount of tokens at a predetermined price. Pool creators can specify details such as token contract address, pool name, address limit, pool access type, and token price.
Liquidity mining
To encourage participation, Polkastarter offers a liquidity mining program distributing POLS tokens daily. Providers receive rewards proportional to their contribution to the swap volume. Rewards can be claimed on the Polkastarter dashboard.
Staking for pool access
Access to high-demand pools may be limited to top contributors. The POLS token serves as a coordination mechanism, requiring community members to stake POLS tokens for pool access.
Private pools and whitelisting
Polkastarter supports private fundraising and OTC deals with features like password-protected pools and address whitelisting.
Permissionless listings
While some features may benefit POLS token holders, the protocol allows anyone to create and launch fixed swap token pools, incorporating measures to prevent malicious activity.
Other features
Polkastarter includes features to safeguard users, such as smart contract verification and slippage alerts. The platform is available in both dark and light modes.
Polkastarter 1.0
Polkastarter 1.0 Beta launched on Ethereum Mainnet with pools for projects like SpiderDAO, MahaDAO, and Royale. A portion of these pools was exclusive to $POLS holders. Security audits were conducted with Red4Sec and Hacken.
POLS token
POLS token holders can vote on product features, token utility, auction types, and project selections. Transaction fees are paid in POLS. The total supply is 100 million tokens, with 42.5 million sold. Team and advisor tokens are locked for at least one year, with vesting schedules for investors.
Usage of funds
Funds are allocated as follows: 45% for the developer team, 20% for marketing, 5% for legal and accountancy, and 30% for liquidity provision.
Staking for pool rewards
Pool creators incur a fixed fee, contributing to the staking reward pool. Rewards are distributed based on the proportion of staked POLS.
Staking for governance
POLS holders can participate in governance by voting on initiatives, features, and rewards. Proposals are discussed off-chain before on-chain voting.
Team
Founders
- Daniel Stockhaus - Co-founder and CEO
- Tiago Martins - Co-founder and CTO
Advisors
- John Patrick Mullin - Co-Founder & Council Member, Mantra DAO
- Matthew Dibb - CEO and Founder of Astronaut and Picolo Research
Partners
- Moonbeam Network: Facilitates cross-chain transactions and efficient operation on Polkadot.
- Shyft Network: Enables optional KYC for token sales.
- Covalent: Enhances transparency and anti-scam measures.
- Orion Protocol: Provides liquidity through cross-exchange integration.
- Decentralized Information Asset: Offers price alert systems for users.
Investors
Polkastarter has attracted investment from Signum Capital, NGC Ventures, VYSYN, and others. In December 2020, Digital Finance Group invested in Polkastarter, committing to a long-term partnership with a token lock-up period.