In 2021, nothing will capture the attention of traders, investors, and venture capital funds like decentralized finance. DeFi applications are primarily built on the Ethereum blockchain, but its poor scalability has resulted in excessive usage fees (gas) rendering many DeFi functions unusable.
Recognizing the inadequacies of Ethereum, in 2017, Gavin Wood, a talented developer and co-founder of Ethereum, founded the Polkadot protocol. Dubbed the internet of blockchains, Polkadot provides DeFi projects with a scalable, secure and inexpensive home to use.
Immediately after launching on exchanges, Polkadot entered the top 10 cryptocurrencies by market capitalization. DOT quickly gained market acceptance, mainly because Polkadot became a competitor to Ethereum and seemed more suitable for hosting DeFi projects.
Most mainstream DeFi today runs on Ethereum and uses ERC-20 tokens, creating restrictions around scalability, transaction speed, gas fees (with record fees sometimes reaching over $30). for a transaction). This is a huge barrier for Defi applications to take advantage of its full potential. PolkaParty is the most anticipated decentralized finance project on Polkadot and positions itself as the DeFi hub of Polkadot.
What is PolkaParty?
PolkaParty is made for you, as the platform allows users to gain access to all features of DeFi (swapping, liquidity providing, yield farming, NFT's, etc) by just joining a single party!
Our aim is to create an easy to use, user friendly experience that allows anybody to hop into a party, chat with members, and be rewarded for group efforts. We've found in our research that there has been a consistently growing barrier of entry for understanding the technicalities of using specific DeFi features.
Our solution is to create a platform that allows anybody to create or join a party with respectable friends, family, and most importantly DeFi veterans, navigating the landscape of endless profits from the smart decisions. No longer will you be frustrated with DeFiety (DeFi-Anxiety), or FOMO into bad moves from not understanding what to do, since you'll be able to research, chat, and vote with your fellow partiers!
PolkaParty aims to create a favorable DIY DAO (Parties) service that is designed as a convenient passage for all participating “party” members to pool their funds for various financial activities and features. We designed our platform with your grandmother in mind in order to bring a technical aspect like pooling to the masses. Have you ever dreamed of running your own venture capital fund? PolkaParty provides a never before seen platform to join your friends together and make true waves in the market. Not only will you be competing for sweet gains, but we aim to create a competitive environment that rewards the most loyal and driven parties
PolkaParty is the ultimate DeFi service
Documentation
PolkaParty is made for you, as the platform allows users to gain access to all features of DeFi by just joining a single party!
Read our whole documentation to learn more about PolkaParty, it's tokenomics and governing system.
Voting models
Parties will consist of members, whose personal wallets are integrated to the parties wallet.
Depending on party set criteria when being created, parties will consist of members who have voting power and some who do not have voting power.
POLP
POLP is the PolkaParty governance token and the main catalyst behind a majority of platform products and features.
First ERC-20 Auto-Liquidity token!
Partiers that hold POLP get access to all kinds of fun goodies that include Season Passes, Exclusive NFTs, Hyped Pre-Sales, Revenue KickBacks and much more.
Tokenomics
Token Name: POLP
Total Supply: 200,000,000
Private Sale : 500,000 (20 million Tokens)
Public Sale: 250,000 (781 NFT) (7.81 million tokens)
Private Selling: $0.025
POLP at launch: $0.032
CONCLUSION
Defi is still a topic of great interest, because it can challenge the current centralized finance. However, current Defi applications are not fully utilized. You cannot participate in making profit with Lending or margin trading on the DEX with a fee that is too large for one transaction. For Defi to truly thrive, it needs to work not just on Ethereum but on any blockchain. Polkadot is a blockchain protocol that facilitates cross-chain communication and interoperability by connecting multiple blockchains into a unified network – which will be the new Defi ecosystem in the crypto space.
For More Information :
Website: https://www.polkaparty.io/
Telegram: https://t.me/PolkaParty
Twitter: https://twitter.com/Polka_Party
Medium: https://polkaparty.medium.com/
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