About

Polkastarter is a permissionless DEX built for cross-chain token pools and auctions, enabling projects to raise capital on a decentralized and interoperable environment based on Polkadot. The platform allows cryptocurrency projects to raise funds by setting up a swap pool based on a fixed purchase rate for tokens. These swap pools maintain the token price throughout the sale until the initial supply is bought.

History

Founded Daniel Stockhaus and Tiago Martius in 2020 Polkastarter launched its MVP in the fourth quarter of 2020 on the Ethereum network and went live in December 2020. The team raised only the necessary fund of $875,000 required for product development in September 2020.

The core idea behind Polkastarter is to provide a launched pad to upcoming blockchain projects at a decreased initial expense as compared to launching a project on CEX. While Uniswap has certainly projected a convivence of launching IDOs, the dynamic swaps were still volatile for the fundraising process. To tackle the dynamic swaps, Polkastarter decided to provide a fixed swaps auction model for the new project launch. Fixed Swaps in addition to cross-chain swaps become the killer features of Polkastarter. The cross-chain swaps powered by the Polkadot ecosystem can provide higher throughput for faster and cheaper transactions while staying connected to the Ethereum Network and other blockchains for liquidity.

In the 2nd quarter of 2021, Polkastarter had helped 23 projects to raise $4.6 million with over 18000 participants across the projects. Polkastart has also expanded its horizon in terms of cross-chain IDOs. Genesis Shards was the first Polkastarter’s IDO to simultaneously raise on both Ethereum and Binance Smart Chain and Meme.com became the first Polygon-based IDO on our platform, raising 333,333 MATIC (~$500k).