Polkastarter is a permissionless DEX designed for token pools and auctions that take place across several chains, allowing projects to raise funds in a distributed and interoperable environment powered by Polkadot. IDOs developed from former fundraising techniques such as initial coin offerings (ICOs) and initial exchange offerings (IEOs) to address some of the problems of these models, most of which are connected to centralization and single points of failure, including frauds and security breaches.
Polkastarter is a multichain platform, which indicates that it has the potential to distribute tokens on a number of other Layers 1 and 2 blockchains, including Ethereum, Polygon, Celo, and Avalanche, among others.
Polkastarter was started by Daniel Stockhaus and Tiago Martius. The MVP was released on the Ethereum network in the fourth quarter of 2020, and the website went live in December 2020. The team only raised the $875K it needed to finish developing the product by September 2020.
Danilo Carlucci is a consultant who was previously the Community Head (US and UK) on YouTube. At present, he is an angel investor and adviser for Polkastarter's marketing and community. The other consultant is Matthew Dibb, COO of Stack Funds.
One of the major issues that the project is attempting to address is unnecessary complexity. It provides an easy-to-use launchpad that enables users to create cross-chain token pools and auctions, so that even people with no prior experience launching tokens may quickly navigate the platform and create an offering. Another problem that the project has placed a major emphasis on is security when raising cash or investing in cryptocurrencies. Security is of the utmost significance, as token sales may be risky events for both the projects selling the coins and the community members purchasing them. Polkastarter is fully aware of this, and it previously relied on Ethereum's vast Proof-of-Work (PoW) mining process, which consists of thousands of miners and nodes working to keep the network safe.
Fixed Swaps: Fixed swaps restrict the amount of ETH or BNB that can be exchanged for a project's token. The purpose of this technique is to maintain decentralization and permissionless participation by preventing an IDO member from receiving an excessive number of tokens early in the listing process. Interoperability: Polkastarter supports cross-chain communication and is now implemented on Ethereum and Binance's Smart Chain (BSC). Polkastarter seeks to grow further chains and offer options for projects and community members to engage in IDOs.
POLS, Polkastarter's native cryptocurrency, can be used in a number of ways: Fees: POLS is utilized on the Polkastarter platform to pay transaction fees. Governance token: Holders of the governance token POLS have the ability to vote on Polkastarter project listings along with project features. Staking for Pool Rewards: People who own POLS tokens can also stake them in liquidity pools to receive a share of pool rewards or to join exclusive pools. Staking for Pool Access: The POLS token is utilized as a qualifying method for participation in an IDO. For popular pools, access may be restricted to key liquidity providers and network contributors.
| DATE | NEWS/EVENTS | IMPACT |
| 07/05/2022 | TerraUSD and LUNA both collapsed and as a result, a number of crypto platforms folded in the aftermath | -44% Decrease |
| 08/02/2021 | Polkastarter announces the inclusion of Astronaut Capital in the Polkastarter Council | +133% Increase |
| 14/01/2021 | Huobi Exchange announced its plans to list Polkastarter | +48% Increase |
| 28/12/2020 | Polkstarter announced the establishment of Polkastarter Council for Governance | +106% Increase |
Polkastarter is an amazing platform for startups and new enterprises to generate funds and start their cryptocurrency ventures. It can also enable investors with convenient access to the most recent blockchain projects. In addition to Fixed Swap Pools, POLS staking, NFT sales, multichain support, and all other existing features, Polkastarter intends to update its governance approach to increase user participation in decision-making and overall development.
Polkastarter