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Polkamarkets Readies Hyped IDO in Preparation for Its Gamified Prediction Markets


btcmanager.com 2021-02-23 16:07
Reading time: ~5 m

At this point in time, Polkamarkets finds itself on the undisputed path to market disruption. By leveraging the Polkadot ecosystem to build a DeFi-powered gamified prediction market, Polkamarkets will facilitate cross-chain information exchange and prediction trading in a decentralized, but highly-profitable environment. 

Why Will the Polkamarkets IDO be a Huge Success?

Through the Polkamarkets product, users worldwide will be able to efficiently monetize their future forecasts. As such, Polkamarkets taps away from the standardized prediction market where people generally bet on the outcome of sports events. Rather, Polkamarkets facilitates prediction wagering on most events possible, including but not limited to esports, crypto prices, finance, politics, celebrities, weather, tech releases, and even tweets. 

Before digging in the upcoming Initial DEX Offering, we ought to present the main features of Polkamarkets. These include an open & liquid market fuelled by incentivisation mechanisms in the form of trading fees and yield farming rewards, an all-inclusive user interface that even provides live streaming for sports events, alongside live price fees for crypto markets events. Polkamarkets will also provide a user-based fee economy, governance tools through the hyped $POLK token, and an events list that’ll be curated by $POLK holders.

In other words, the $POLK token that will be sold as part of the 24th of February IDO and listing event, will provide several key use cases within the platform. $POLK will be utilised to pay for transaction fees, participate in governance, and even curate the events list to facilitate decentralized prediction market participation.

About the Upcoming IDO on Polkastarter

Over the last couple of days, Polkamarkets has been involved in organizing an Initial Dex Offering on Polkastarter, the ecosystem’s best choice for fundraising via cross-chain token pools and auctions. As a permissionless DEX, Polkastarter allows frictionless token purchases that take place within a secure, yet compliant environment. Since this all runs on Polkadot, abiding by the ERC-20 standard is no longer a concern due to the cross-chain support. 

As of this moment, the whitelisting process has been closed, summing up over 1 million whitelist requests alongside over 85K new followers on Twitter. To say that this project is highly sought-after would be an understatement. 

Those who have successfully whitelisted will be randomly selected to gain eligibility to participate in the IDO, scheduled to kick off on the 24th of February, at 1PM UTC. With a fundraising goal of $90,000, eligible investors will be able to purchase $POLK from the public pool at a price of $0.03. Polkastarter will also open up a $POLS pool, allowing Polkastarter token holders to purchase $POLK. 

This IDO is expected to be a huge success given the considerable number of whitelisting requests. However, only a few users will be lucky enough to purchase $POLS via the Polkastarter IDO. With this in mind, a total of 300 participants will be randomly selected from those who’ve signed up via the whitelist form – 167 of them will gain access to the $POLS holders pool, whereas 133 participants will be eligible to purchase $POLK via the public pool. 

Each investor, regardless of which pool they’re eligible to join, will be able to invest a maximum of $300 USD in ETH. Since the IDO is expected to last for roughly two hours, the $POLK tokens will allow withdrawal from Polkastarter at 3PM UTC, two hours after the IDO has commenced. 

Listing $POLK on Uniswap

Following the conclusion of the IDO, Polkamarkets has announced that it will also list the hunted token on Uniswap. The listing will be carried out on the 24th of February at 3PM UTC, so from this moment, users will be able to purchase $POLK at market price. $200,000 worth of liquidity will be added on Uniswap by the team to ensure that there’s plenty of tokens to go around for everyone. Of course, token holders are free to add their own liquidity and earn transaction fee rewards in exchange for their support.

Trading $POLK on Uniswap is frictionless, and does not necessitate any whitelisting or KYC procedure. Any person anywhere on the globe is free to participate in the Uniswap listing.

$POLK Token Metrics and Vesting Schedule

$POLK comes along with a total supply of 100M tokens, an initial market cap of $672,500, and a total fundraising goal of $715,000. The initial circulating supply only consists of 13.45% of the total supply, thereby allowing a steady price growth and a soaring demand.

Similarly to most other projects that engage in fundraising via IDOs, the $POLK token comes along with a vesting schedule designed to maintain the price value while deterring dumps. As such, the strategic sale entails a 25% token unlock following the token generation event (TGE), alongside 25% monthly over the next three months. Those who participate in the Polkastarter IDO sale will not have to deal with any vesting requirements, since the tokens will be fully unlocked 2 hours after the IDO is launched.

Tokens belonging to the team are also subject to a vesting schedule, applicable to the liquidity fund, marketing fund, and team & foundational reserve. 

Bottom Line

Based on these aspects, given Polkamarkets’ value proposition, it only makes sense that there’s a huge demand for the upcoming IDO. Worry not, as those who aren’t lucky enough to earn allocation via Polkastarter, will be able to access $200,000 worth of liquidity to freely purchase and trade $POLK on Uniswap. 


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