What is Poolz? To answer that let’s start with the problem. With the continuous innovation of blockchain technology, more and more blockchain and crypto innovators are looking for a more decentralized, censorship-resistant method of fundraising. Hence, the emergence of Initial DeFi Offering (IDOs) and Initial Liquidity Offering (ILO) has become more popular. Despite the market becoming more and more open about such projects, early-stage innovators still face several challenges due to the fast-paced nature of the industry. Before listing, the innovators have to seek liquidity investments for their tokens and this is a major challenge for many innovators.
What opportunity is there available?
Many DeFi projects have gained widespread popularity in the past year and even now. So the adoption to the space has been tremendous. At the time of writing, the DeFi market capitalization is roughly $68 billion! However, popularity is one thing, the adoption of the technology still faces several challenges. In addition, many blockchain-crypto startups need to bootstrap liquidity to ensure profitable trading prices on DEXs and other AMM-based platforms. Hence, there is a rising demand for decentralized, integrated, cross-chain ecosystems that allows project owners to easily and securely conduct pre-listing liquidity auctions. And that is a big opportunity for a layer-3 swapping protocol like Poolz.
Let's get to know Poolz and what it tries to solve!
In order to tackle this issue, Poolz Finance came up with Poolz, a swapping protocol that will decentralize the way of connecting early-stage blockchain cryptocurrency innovators and investors. The platform will have a unified platform allowing project owners to launch and manage liquidity auctions that can then be easily discovered by investors on the platform. So the main mission of Poolz is to disrupt and fully decentralized liquidity auctions. The project hopes to facilitate greater interoperability through cross-chain interactions which will also strengthen DeFi adoptions and value.
Tell me more about Poolz…
To put it quite simply, there are two main categories of Poolz users. One category focuses on the Project Owners or Pool Creators and the other is composed of Investors or Liquidity Providers (LPs).
The Types of Pools
- Direct Sale Pools (DSP): Direct Sale Pools are pools without any lock-in period and investors cna get the token immediately after the swap
- Time-Locked Pools (TLP): Time-locked pools are pools that have a predefined lock-in period and investors can receive their swapped tokens only after the completion of this duration. So the Poolz’s smart contract will enable pool creators to define custom-lock-in periods which will release the swapped assets on an incremental basis.
- Created: pool is exclusively available for POOLZ token holders.
- Open: pool is available to all POOLZ users.
- Out of Stock: the predefined supply of auctioning tokens have been sold out. However pool’s duration has yet to end. In the case of TLP, tokens will remain locked for a period of time.
- Finished: the pool has reached the end of its specified time. Both for DSP and TLP, the leftover tokens will be returned to the PO’s wallet. Investors will get their tokens purchased (swapped) through TLP.
- Closed: the pool is complete and tokens have been duly disbursed.
So what are the key features of Poolz?
Poolz has several key features. All these features work together to help provide users with an intuitive platform and investors an easy way of discovering promising and disruptive projects.
- Customizable pool options and multi-chain integrations
- Full decentralized, non-custodial, and trustless ecosystem with Solidity-based smart contracts
- Interactive and intuitive UI coded in React with Web3 libraries integration
- Unit testing of smart contracts and network code with Ganache
- Continual and multi-level incentivization mechanisms
- Low gas fees
What are some use-cases of Poolz?
With all the features on Poolz, it has a wide variety of use-cases. These use-cases include:
- Liquidity Bootstrapping: Innovators can leverage the Poolz platform to launch token auctions helping to generate liquidity for DEX listing. The platform will also be extremely valuable for early-stage projects as the idea can be used for any blockchain-based project.
- OTC Trading: To further the DeFi adoption, the Poolz platform can be used as a marketplace for wide-range crypto OTC trading.
- Yield Generation: The investors can participate in auctions hosted on the Poolz platform which will help generate passive yield from their ETH and DAI holdings by providing liquidity to auctioning projects.
- Non-Fungible Token (NFT) Bid Auction: NFT-based projects can launch dynamic ratio auctions on the Poolz platform, hence further diversifying the options for liquidity providers.
The POOLZ Token:
The POOLZ token is the native cryptocurrency of their platform. The token is an ERC20 token and has a total supply of 5,000,000. So there’s several use cases of the token which includes:
- Staking & Rewards: The $POOLZ holders can stake tokens in their wallets and Poolz’s liquidity pool to earn passive income. So all the rewards and incentives for participating in the Poolz platform will be given in $POOLZ tokens.
- Governance: The $POOLZ holders can obtain voting rights on the platform through staking a predefined amount of tokens in their specified staking wallet. The holders can then participate in the community’s decision-making process which includes new proposals, pool audits, circulation, token burn ratio, distribution, and more. The governors will also have an ability to partake in Poolz’s on-chain governance model.
- Token Burn: Poolz Finance will follow a Limited Top Value burn policy, using 16.667% of the daily earnings to market buy $POOLZ tokens (up to 20% of total supply) and burn them. This will further enhance the ROI of the entire $POOLZ holder community and enhance the token’s inherent value.
- Benefits for LPs: The liquidity providers on the Poolz ecosystem can also benefit from the POOLZ token. Furthermore these benefits include access to exclusive pools and access to better swap ratios.
At the initial launch of Poolz, it will be an administered platform in the MVP stage. Later, the platform will transition into a fully-decentralized community governance model based on the Proof-of-Stake (PoS) consensus mechanism. Hence, the token holders will have full say of the product features, token utility, auction types, platform fees, conditions for pool creations, terms of governance, and future plans for the platform.
Q3 2020: Kick-starting Poolz
- Platform, smart contract, and network development.
- Seed sale completed.
- Testnet Launched—built with Truffle and written in .NET core, for optimum security and stability.
- Then the code was published on GitHub: [LINK]
Q4 2020: Launching the MVP
- Pre-listing POOLZ sale (liquidity auctions).
- First pool creation on the platform.
- Cross-chain swap integration. (Tomochain)
- Fixed token swaps.
- Then DEX listing.
Q1 2021: Accelerating Poolz
- Parachains Alpha TestNet
- ERC721 integration—NFT auction.
- Governance Launch & POOLZ Staking
- Stablecoin Swap integration.
- Then Implementing Bid Auction functionality.
Q2 2021: Skyrocketing Poolz
- Synthetic tokens.
- Mobile Version
- Then they’ll launch Multi – Wallets Integration
Q3-Q4 2021: The Poolz DAO
- Launching Poolz v.3—A fully-functional DAO.
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