Polkastarter Launchpad: Comprehensive Guide
Polkastarter Launchpad is a decentralized platform that helps crypto projects launch Initial DEX Offerings (IDOs). Read our article to learn more about Polkastarter Launchpad.
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Table of Contents
- What Is Polkastarter?
- Should I choose a Polkastarter launchpad?
- How Does Polkastarter Work?
- Statistics and Performance
- What do you need to participate in IDO on Polkastarter?
- How to get whitelisted on IDO?
- How to participate in Polkastarter IDO?
- What Is Polkastarter Token? POLS Coin Uses Explained
- Who Is Behind Polkastarter Launchpad?
- Bottom Line
- Frequently Asked Questions
Polkastarter is a multi-chain decentralized exchange (DEX) or launchpad that offers Initial DEX Offerings (IDOs) for early-stage crypto projects to raise funds. It provides an innovative platform for blockchain startups and investors, allowing them to participate in secure token sales with unprecedented transparency. In this review, we will take a closer look at the features of the Polkastarter Launchpad and its pros and cons. We'll also cover what you need to participate in IDO on Polkastarter, how to get whitelisted on IDO, statistics and performance data, as well as other important information about the platform. So let's dive into our review of Polkastarter Launchpad!
Source and Copyright © Polkastarter (here and elsewhere in the article)
What Is Polkastarter?
Polkastarter is a decentralized fundraising platform that provides a secure and seamless way for blockchain projects to launch new ideas in the crypto world. With one of the industry-leading curation processes and market access, Polkastarter select the most innovative projects in this area and provide long-term support after IDO.
It will serve as a launchpad for new blockchain and cryptocurrency projects and allow capital to be raised through Initial DEX Offerings (IDOs). At Polkastarter, the project team can offer tokens directly to the community, promoting comprehensiveness and enabling broad participation in early-stage investments. Polkastarter aims to democratize the funding process and empower project teams and investors in an evolving blockchain ecosystem by leveraging the principles of decentralized finance (DeFi) principles. Moreover, Polkastarter is a cross-chain platform allowing users to connect or interact with different blockchain networks in one place.
Should I choose a Polkastarter launchpad?
Polkastarter proves itself as a convenient and professional tool for conducting IDOs. The capitalization of the POLS token used by the launchpad is almost $34 000 000 at a price of about $0.34 per token, which is a relatively stable value compared to tokens of similar venues. If you're looking for an easy-to-use, reliable, and secure platform to launch your token sale, then Polkastarter is worth considering.
The platform has already hosted over 108 successful launches since its launch. This shows that it is a populat and in-demand platform for conducting token sales.
Despite this, activity in 2023 has declined and there is considerably less news about Polkastarter than there was a few years earlier. In any case, we recommend doing your own research on each project before investing. Remember that you can lose money working with a high-risk financial instrument such as cryptocurrencies.
How Does Polkastarter Work?
Polkastarter aims to connect with Polkadot for its efficient and scalable ecosystem. By utilizing the power of Polkadot's native blockchain and its own innovations, Polkastarter remains connected to multiple blockchains to ensure liquidity. It is already available on Ethereum, Polygon, and Binance Smart Chain.
One key aspect that distinguishes Polkastarter is its fixed swaps. These swaps help prevent token price fluctuations, addressing issues like dumping. Additionally, they make the initial decentralized offering (IDO) fundraising process more transparent for investors.
To participate in an IDO, investors need to stake their POLS for a certain amount of time. This stake-to-participate model makes it easier to detect malicious actors and promotes more fair token sale mechanisms.
Statistics and Performance
Since its launch in September 2020, the Polkastarter platform has hosted over 40 successful launches, featuring prominent projects such as Blockchain Cuties, Convergence, Fire Protocol, and Ethermoon. Notably, the NFT platform Ethernity Chain experienced significant growth, with its token surpassing the initial offer price by a remarkable 272-fold at its peak. This surge in value can be attributed to the increasing popularity of non-fungible tokens (NFTs), leading to substantial growth in NFT-related services within the Polkastarter ecosystem. Moreover, Super Farm, a platform enabling users to deploy crypto farms, delivered impressive returns of up to 190 times for investors, achieving a market capitalization of £203 million within a mere 14 days after its launch. Additionally, Polkamon proved to be highly profitable, multiplying the wealth of fortunate investors by 185 times, resulting in a market capitalization of £41 million following its token sale.
These impressive results demonstrate the potential of Polkastarter's launchpad for projects and investors, both alike. With its innovative platform, Polkastarter is well-positioned to continue its success as on of the leading launchpad platforms for decentralized offerings.
What do you need to participate in IDO on Polkastarter?
Here's a brief overview of the steps you need to take to participate in an IDO on Polkastarter:
- Connect your Wallet: First, you need to connect your crypto wallet to the Polkastarter website.
- Choose IDO: Next, select the IDO you would like to participate in.
- Purchase POLS Tokens: After selecting the IDO, you will need to purchase enough POLS tokens to cover the cost of entry.
- Keep POLS Tokens: After purchasing the POLS tokens, you must keep a certain amount of them in your wallet for at least seven days. The user receives 1 unit of POLS Power for each POLS token held in the cryptocurrency wallet.
- Whitelist: After holding your POLS tokens for at least seven days, you will be whitelisted and eligible to participate in the IDO. Increasing your chances of being whitelisted can be helped by the tier system.
With these steps, you'll be able to participate in the IDO and benefit from its advantages. Read our article next to find out more about each step.
How to get whitelisted on IDO?
The Polkastarter platform offers a tier system to increase your chances of being whitelisted. This ensures that different users have access to different tiers depending on the amount of POLS tokens held in their wallets. To increase your tier and get a higher chance of being whitelisted, users need to hold more POLS tokens in their wallets. The higher your tier, the higher you are on the list of participants and the more likely you are to be whitelisted.
As the initial eligibility threshold for whitelisting is 250 POLS Power, having multiple tickets increases the chances of winning. However, it does not increase the maximum distribution.
With the tier system, users can increase their chances of being whitelisted and benefit from exclusive rewards on the Polkastarter platform.
Polkastarter Tiers
There are a total of 5 tiers on the Polkastarter platform; let's take a look at each of them:
- Tier 1: If your POLS power is 250 or higher, every ticket will be worth 1 point.
- Tier 2: If you have 1000 or more POLS Power, every ticket you have is worth 1.1 tickets.
- Tier 3: If you have 3000 or more POLS Power, every ticket you have is worth 1.15 tickets.
- Tier 4: If you have a POLS Power of 10,000 or more, each ticket is worth 1.20 tickets.
- Tier 5: If you have over 30,000 POLS Power, each ticket will be worth 1.25, and there will be no cooldown.
As we can see, the higher your tier, the more tickets you get per POLS Power and the more chances of being whitelisted and getting exclusive rewards from the Polkastarter platform.
In addition, Polkastarter also uses a Cooldown period, which means that after successful participation in an IDO, the user cannot participate in other IDOs for the next seven days.
How to participate in Polkastarter IDO?
Once you have been whitelisted, it's time to participate in the IDO. Here are the steps you need to take:
Step 1: Connect your Wallet
To start, link your cryptocurrency wallet with the Polkastarter website. Go to the website and click on the "connect wallet" button at the page's top right corner.
Step 2: Purchase POLS Tokens
After connecting your wallet, buy the required amount of POLS tokens for the IDO you wish to participate in. The minimum amount of POLS tokens is 250 POLS tokens. In addition, you can purchase tokens from various crypto exchanges such as Binance, Huobi, Poloniex, etc.
Step 3: Choose the IDO Project
To participate in an IDO, first buy POLS tokens. Then, go to the Projects page to view a list of available projects. Choose the project you want to participate in and click "participate." And again, make sure to meet the eligibility criteria. Note that the minimum amount of POLS tokens may vary from project to project.
Step 4: Getting to know the project
After selecting a project, it's important to become familiar with the specifics of the upcoming IDO. To view the project requirements, click on the project icon. If satisfied with the requirements, click "Apply Now" to progress to the next step.
Step 5: Submit the whitelisting application
After that, you will be required to complete and submit a whitelist application form. Select the "Apply Now" button to display the IDO application form. This form must provide personal information, including the crypto wallet number and other relevant information that is essential to the IDO process.
When you submit a Whitelist application, you will have to wait for the specified time frame to expire and for all applications to be processed.
Following the completion of the application, the project team will publish a comprehensive list of qualified candidates who have completed the crucial KYC procedures. Polkastarter will then conduct a final lottery draw, utilizing the POLS Power score of each applicant.
The whitelisted addresses will then be subjected to a thorough review as part of the necessary KYC procedures.
This procedure is important to ensure maximum fairness in project operations, to prevent bots from being unintentionally included in the whitelist, and to comply with your country laws.
Once the KYC process is complete, participants will be waiting for the IDO start date. IDO uses a live queue system to determine how many people each project will be whitelisted. Thus, the likelihood of being able to participate in a particular IDO may change accordingly.
Participation in the IDO can be done via Ethereum or BSC, but ensuring that the wallet has sufficient funds to facilitate the process is essential. Furthermore, it is important to note that all IDOs are exclusively implemented on the official Polkastarter website.
What Is Polkastarter Token? POLS Coin Uses Explained
Polkastarter Token (POLS) is the native utility token of the Polkastarter platform. It provides rewards, access to the platform, and facilitates transactions between all participants. The use cases of the POLS token include payment for platform transaction fees, governance of project features and listings, staking of liquidity pools for rewards or exclusive access to IDOs, and more.
Who Is Behind Polkastarter Launchpad?
In the fall of 2020, Daniel Stockhaus and Tiago Martins, along with advisors Danilo Carlucci and Matthew Dibb, led the launch of the platform. Signum Capital, Astronaut Capital, Moonrock Capital, and NGC Ventures collectively invested £652,618 in the initial rounds of funding. On September 30, 2020, the company conducted an IDO process on Uniswap, raising £14 million. The price of the POLS utility token increased by 750% after MahaDAO and SpiderDAO held their token sales on Polkastarter on December 15 of the same year. In October 2021, Polkastarter revamped its interface and IDO participation mechanics to improve user experience.
Bottom Line
In conclusion, Polkastarter Launchpad is an advanced platform designed to make it easier for crypto projects to launch IDOs and raise funds. It offers a plethora of features, benefits, and solutions that make it an attractive option for crypto projects looking to launch their tokens. On the other hand, the platform offers opportunities to invest in tokens for new projects. You could find detailed instructions on how to do this in our article.
Frequently Asked Questions
Is Polkastarter Safe?
Yes, Polkastarter is a safe platform, and user funds are securely stored in their wallets. The platform's mainnet is also regularly monitored and audited by a team of experienced developers. Despite this, do your own research and don't risk funds you can't afford to lose.
Is Polkastarter Related to Polkadot?
No, Polkastarter is not related to Polkadot in terms of origin or organization; however, the similarity in the name may be more intentional than coincidental. Polkastarter was originally built on Ethereum but now operates on the Polkadot blockchain.
