This means projects can also gain a larger following of token holders by distributing tokens across a wide audience. Until June 2022, Polkastarter has helped launch over 110 projects, consisting of token sales, NFTs and metaverse sales. The platform has raised over $50M for its projects reaching a collective all-time high market capitalization of $3.2B. In order to be able to buy $POLS, you should first own one of the major cryptocurrencies – Bitcoin or Ethereum. You can also opt for USDT, which is a crypto-native USD equivalent or a so-called stablecoin.
Which blockchain network hosts POLS?
- Moreover, the creators of token pools keep full autonomy over this process.
- It features everything you need to properly manage your projects and synchronizes with your online account so that you always have access to the most recent data.
- The price of Polkastarter (POLS) is calculated in real-time by aggregating the latest data across 33 exchanges and 42 markets, using a global volume-weighted average formula.
- You will receive an amount based on the percentage of your tokens in the pool compared to all others.
- POLS token holders will be able to vote on product features, token utility, types of auctions and even decide which projects get to be featured by Polkastarter.
Polkastarter as a platform has security measures in place both for itself and for its users. Since the community continues to use this project it is deemed as safe. However, do keep in mind no crypto how to trade litecoin: reasons for investment, strategies, key points platform or network is completely secure. You should do some research on your own on Polkastarter before making your final decision if this is something you want to get yourself into or not.
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For the full list of exchanges and trading pairs you can also check Coinmarketcap and Coingecko, the two most reputable sources of token information. Be mindful that while Uniswap and PancakeSwap pay out fees to liquidity providers, your capital is also at risk of Impermanent Loss. We highly recommend understanding the risks of being exposed to two assets at the same time before choosing this option.
Step 3: Submit KYC and Participate in the sale
POLS Power determines your chance of participating in an IDO and NFT sale. It’s an aggregator that calculates the eligible POLS balance users across the platform, including POLS in their wallet and the POLS they’re staking. It’s a lottery system that rewards users 1 ticket for every 250 POLS. Users need to get their wallet addresses on the “allow list” to gain access to an IDO. Polkastarter is listed on 31 exchanges across 36 trading pairs. Binance is one of the largest and most well-known cryptocurrency exchanges in the world.
This way transactions between the chains are happening faster and cheaper as well. Polkastarter uses Polkadot to make the whole project run as it provides them with scalability and speed for their transactions as well as a rather simple framework to develop new blockchains. Check out our Telegram group to learn more about POLS and how developments are faring. The community can offer a lot of knowledge on projects, and POLS is just one of many tokens being discussed. Polkastarter’s defining characteristic is the ability to do cross-chain swaps. Currently, the best Polkastarter exchange to buy POLS is Binance, which saw $ 692,526 worth of Polkastarter trading volume in the last 24 hours.
If you prefer, you can also use an online wallet to keep your holdings safe on the internet. Read more about launchpads and find out the top IDO launchpads across different chains. Miguel Leite is a serial entrepreneur and marketing extraordinaire. After some successful ventures he turned to web3, co-founding Coinvision and BEPRO Network, before the incredibly successful and industry-changing launch of Polkastarter.
The most liquid trading pairs for the cryptocurrency are POLS/WETH and POLS/USDT. There are currently no direct fiat to POLS trading pairs available — but you may be able to buy BTC with fiat first, and then exchange this to POLS. Users providing liquidity on Polkastarter are eligible to stake POLS tokens to earn a cut of the day’s token pool fees. When a user creates a token pool on Polkastarter, the pool creator pays a fixed fee on the total amount raised. With Ethereum’s escalating network fees and slower platform performance, end-users feel frustrated.
The site will ask for some basic information about yourself, make sure to tell the truth. Make sure to type your name, your e-mail, and your password correctly. You will be asked to check your status as a living being using a re-captcha box and to agree to the terms of use of the platform.
This aggressive action caused others to “ape in” as they tried to corner the market on entire pools of new token listings. Thus, projects can raise and exchange capital quickly and inexpensively, and users can participate in a secure environment knowing initial token prices https://forexbitcoin.info/ won’t wildly fluctuate. Projects wanting to launch on Polkastarter first get vetted by the team’s analysts and industry-leading experts. Next, Polkastarter helps approved projects raise funds by setting up a swap pool for its token based on a fixed purchase rate.
To claim your tokens, find the allocation card of the sale you just participated in and click on the “Claim” button. Make sure to connect your MetaMask wallet and double-check the network your wallet is set on while on the project page. You should be on the appropriate network for the sale you participate in. Once you’ve selected that from the menu up top, you’ll be able to see the status of all the allowlist applications you’ve applied to. You can also simply click on the individual project from the “Projects” menu and confirm your allowlist status from there.
If you’re interested in learning more about that switch, see here. If you successfully participate in a sale, the wallet you used to purchase the tokens will be placed on a cooldown period of 7 days. During those 7 days, you will not be selected in the lottery for another sale. Remember that $POLS need to be held for a minimum of 7 days, or staked, to become eligible.
Currently, Kraken lists Polkastarter in pairs against the US Dollar and Euro fiat currencies. You can buy cryptocurrencies on Kraken with a Visa or Mastercard card, or you can fund your account through a wire transfer or other methods. Its main utility is gaining access to pools and giving projects the option to give priority access to POLS holders. Users are incentivised to stake POLS, rewarding the most loyal members. Lastly, fixed swap pools serve one of Polkastarter’s goals – to ensure that funds go to the project. That’s why Polkastarter started working with fixed swap pools in the first place – to provide a more equitable token distribution mechanism while remaining decentralized.
However, this doesn’t change the way that their legal status varies from one country to another. Click here to check the legality status of cryptocurrencies by country. Polkastarter has a different plan for tackling scalability issues, it has one main blockchain called the relay chain and parachains and parathreads are connected to it. To make transactions faster between those two chains, there are “bridges” or blockchains that connect them.
A simple answer is that Polkastarter is a DEX that allows projects to list their tokens at a fixed price that will hold fast. This fixed-price feature minimizes volatility during a token’s launch time. It also brings greater transparency regarding the amount of capital raised and tokens sold.
Polkastarter is a blockchain-based platform that facilitates the creation of cross-chain token pools and auctions. Initial-stage blockchain companies that want to generate cash and quickly distribute their tokens often choose this method. Blockchain projects can simply construct its cross-chain swap pools, allowing the safe generation of money. Decentralized exchanges allow for peer-to-peer transacting to safely and securely take place on the blockchain.
Join readers from Coinbase, a16z, Binance, Uniswap, Sequoia and more for the latest staking rewards, tips, insights and news. Once you’ve added BNB Chain to the available networks, make sure you’ve selected ‘BNB Chain’ from the network list dropdown menu. Even if your MetaMask is set on Ethereum or any other network, by clicking on ‘Connect Wallet, ‘ MetaMask will typically ask you whether you want to switch over to Smart Chain. Join the newsletter to receive the latest updates in your inbox. The easiest and cheapest way to get POLS Power is by simply buying and holding $POLS in a self-custodial wallet such as MetaMask. Here are the procedures you can follow to purchase POLS on the Binance exchange.
When purchasing Polkastarter, it’s important to choose a reputable exchange that is easy to use, and has reasonable fees. Once you’ve done this, always transfer your crypto a hardware wallet. That way, no matter what happens to that exchange, your crypto is safe. The project is built to help the new up-and-coming tokens and allow everybody involved to make more profit. By helping fund the “next big thing” in the crypto community the project is only making itself more important for the future of the crypto world.