Zug, Thursday, April 25, 2024 – Polimec, the funding protocol developed on Polkadot, announced its launch of Web3 projects aimed at fundraising on April 15, according to a post by Polimec on X. 1
“Polimec enables fundraising in a decentralized, transparent, and regulatory-compliant manner, aligning stakeholder incentives during and beyond the fundraise,” co-founder Kasper Mai Jorgensen stated. 2
Direct on-chain fundraising would be operated in a translucent manner within a decentralized platform, he said. 3
The concept initiated in 2020 collaborating with the KILT Protocol shifted to an independent project in June 2022.
The fundraising process is now divided into five phases.
Inserting the credential verification, Know Your Customer (KYC) phase would be filled at first.
The in-depth initiatives related to the projects will require funding, and later, the assessment of the community members will be done based on a democratic selection procedure.
The adequate community-backed exclusive projects would be selected for the funding round. 4
The Issuance and Migration phase will be at the forefront with tokens being allocated among the participants. As soon as the project is launched, tokens will be turned into mainnet tokens.
Web3-based projects, Apillon and Mandala Chain will be utilized for initial fundraising, according to the source. 3
- Web3 fundraising: https://twitter.com/PolimecProtocol/status/1779869447206969633[↩]
- Web3 fundraising: https://cryptoslate.com/polkadots-parachain-polimec-aims-to-transform-web3-fundraising-through-new-decentralized-platform/[↩]
- Web3 fundraising: https://cryptoslate.com/polkadots-parachain-polimec-aims-to-transform-web3-fundraising-through-new-decentralized-platform/[↩][↩]
- Web3 fundraising: https://cryptoslate.com/polkadots-parachain-polimec-aims-to-transform-web3-fundraising-through-new-decentralized-platform/[↩]
