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Polkastarter is an easy to use cross-blockchain fundraising platform and decentralized exchange based on Polkadot that allows users to seamlessly facilitate transactions between different blockchains.

Though based on the Polkadot blockchain, Polkastarter features multi-chain and a DeFi protocol that supports token sales on the Ethereum, Binance Smart Chain, Solana, Polygon, Avalanche and Celo blockchains. Through Polkastarter, blockchain projects can raise funds securely using a cross-chain token pool, which can be easily created by users themselves, accommodating easy investments. Besides, users can invest without risks, since swaps are automatically executed by smart contracts.

Due to the above, Polkastarter is most commonly used by early-stage emerging blockchain projects that want to raise capital and easily distribute their tokens at the same time.

POLS is the native utility token powering Polkastarter ecosystem and plays a number of roles in its ecosystem, being used for liquidity mining, governance, paying transaction fees, earning staking rewards and gaining eligibility to participate in POLS-holder only pools.  (Note: Coinbase currently only supports POLS running on the Ethereum blockchain.)

How Polkastarter Works

Polkastarter is a permissionless decentralized exchange for multi-chain token sales and liquidity pools. It was created to be a cheaper, decentralized alternative to crowdfunding sales on centralized exchanges.

Similar to exchanges like Uniswap, Polkastarter relies on liquidity pools, which are huge pools of tokens that traders rely on to swap in and out of different cryptocurrencies. Polkastarter, however, is optimized for IDOs – initial dex offerings, or crowd sales held on decentralized exchanges rather than centralized token sales that take place on centralized exchanges, like Binance Launchpad.

To prevent decentralized liquidity pools from becoming expensive or volatile during a token sale, Polkastarter uses “fixed swaps,” which means tokens are sold at a fixed price. It is also cross-chain, supporting multi-chain swaps through the Polkadot network.

While the exchange supports crowd sales from multiple blockchains, Polkastarter itself is based on Polkadot, a far faster blockchain than rivals like Ethereum, but less battle-tested.

POLS is used to pay for transaction fees on the Polkastarter platform. Holders can also stake the tokens in liquidity pools to earn a cut of pool rewards or to enter exclusive pools. POLS is also a governance token, meaning that holders can use the token to vote on the future of the project.

What Makes Polkastarter Different?

Polkastarter’s main offering is its fixed swap smart contract, which allows projects to easily launch liquidity pools that execute orders at a fixed price — rather than using the AMM model made popular by Uniswap.

The platform is designed to handle a range of auction types, including sealed-bid and dutch auctions, as well as both fixed and dynamic ratio swaps. This makes it suitable for cryptocurrency projects looking to raise funds, as well as a variety of other use-cases, including private trades, OTC deals, and discounted sales.

Beyond this, other key features of the platform include permissionless listings, anti-scam capabilities, full KYC integration and liquidity mining.

It should be noted that many of these features are currently unavailable, but are scheduled to launch at a later date — possibly after Polkastarter transitions to the Polkadot network, which is currently slated for Q1 2021.

Whitepaper

Official Website