- 16 Mar, 23
Polkastarter (POLS) 101: Discover the Advanced DeFi Ecosystem
Decentralised finance (DeFi) has been one of the hottest trends in the blockchain space in recent years, and Polkastarter (POLS) is at the forefront of this trend. Polkastarter incorporates fundamental features such as cross-chain interoperability, token pools, and initial DEX offerings (IDO).
The impact it has created in the blockchain space has been beneficial to both projects and investors, regardless of whether you’re a newcomer or an experienced senior in the DeFi field. In this article of Zatrun.com, we’ll delve into the details of what the Polkastarter is, explaining how it has changed the rules of decentralised exchanges and fundraising platforms.
Table of Contents
What is Polkastarter (POLS)?
Polkastarter is designed for projects to raise capital and for users to access a wide range of assets across different blockchain networks. The platform provides a seamless and efficient way in these areas and is available on Ethereum and BNB Chain blockchains. This way, it can reach a large user base and benefit from technologies such as smart contracts.
One of the most important features of the project is its support for interoperability. This allows the trading of assets from different blockchain networks on the same platform. The feature increases liquidity and means users can access more investment opportunities.
Another important feature of Polkastarter is its support for initial decentralised fundraising campaigns for blockchain-based projects known as IDOs. These helps reduce the risks associated with traditional fundraising methods, enabling projects to raise capital safely and in a decentralised manner.
Additionally, the project has a governance system that allows the community to vote on protocol upgrades and new features. This allows the platform to evolve and adapt to the changing needs of its users over time.
How Does Polkastarter Work?
In general, Polkastarter is a decentralised and efficient ecosystem for trading, fundraising, and community governance. The platform, which leverages the power of the Ethereum network, operates through a decentralised exchange and an inter-chain liquidity protocol.
This allows for seamless asset exchange across different blockchain networks and enables the creation and trading of token pools. So how do you use Polkastarter? Here is a step-by-step guide:
- Users create a crypto wallet via Web3 interfaces such as MetaMask and connect to the Polkastarter platform.
- Users then deposit Ethereum (ETH) or ERC-20 tokens into the Polkastarter platform to participate in trading and liquidity pools.
- After assets have been deposited, users can participate in trading by buying and selling assets like token pools on the platform.
- The platform also offers liquidity pools that are collections of asset pools that can be bought and sold as a single unit, which users can also benefit from.
- Projects can launch in the platform, with a thrustless and decentralised manner, and the community can vote on new features, allowing for the platform to adapt to the changing needs of its users over time.
What is POLS? Is It a Good Investment?
POLS functions as the native cryptocurrency of the Polkastarter platform. The asset, which is based on the ERC-20 standard on Ethereum, is purchased by users to be used in various products. For example, users who deposit ETH and ERC-20 tokens into the platform’s liquidity pools receive a share from the POLS pool in return.
Additionally, they receive discounts on expenses such as gas fees. Moreover, POLS coin allows users to make donations in IDOs on the platform. Users can also earn passive income by locking up their assets using this stakable cryptocurrency.
Polkastarter has simplified the token launch process with IDOs, which is why many newly launched projects use the platform for their launches. This has increased the adoption of the Polka ecosystem. The platform also rewards users with DeFi features such as providing liquidity, participating in IDOs, and staking. All these incentives lead investors who want to earn a profit to join the platform.
Currently, the project is the 435th largest platform according to CoinMarketCap data. However, POLS is trading well below its all-time high of $6.95. The asset fell to as low as $0.43 during the 2022 bear market. Nonetheless, this does not necessarily mean that the asset is bad for investment.
The cryptocurrency market has experienced similar crises and downturns in the past, but it has managed to recover. Therefore, investors may want to wait for the market to recover before considering investing in POLS.