Polinate is a crowdfunding platform that is trying to properly bridge the gap between creators, investors, fans, and everyone else in the creative ecosystem.
On the back of a successful IDO, they have recently also launched their decentralized app on September 30. So far the app is currently accessible through the Matic Mainnet Via MetaMask. Although the PC version seems to work fine, it is currently unavailable to Mobile users.
Currently, the app only features one artist, a rapper called Jake James with ties to Statik Selektah and Notorious B.I.G’s producer, Buckwild. Polinate, however, has announced that other creators will be joining them as we enter the month of October. The creators include Ahmad Khan of People Like Games, Ayesha Syeddah from Blindian Project, Izzy Lugo 111 of Strange on Purpose Podcast, Dianne Halloway of AirCapture.
Importance of decentralized applications
Decentralized apps interact with the blockchain, which keeps track of the current status of all network participants. One of the most important parts of any Decentralized application’s logic is its smart contracts. They are essential components of blockchain because they analyze data from sensors or events on the outside and assist the blockchain to keep track of the current status of all network participants.
To put it another way, the front end of a decentralized application is what you see, but the back end is what controls everything. A smart contract, or a set of smart contracts, reflects the business logic and interacts with the underlying blockchain. Smart contracts are the backbone of decentralized finance and their existence is what allows decentralized apps like Polinate to be built.
Hence it becomes apparent why the Polinate dApp is so important. For any project built in DeFi, a dApp becomes the interface your consumer base links to you through. The Polinate dApp currently supports seeding, funding, and claiming which allow users to provide liquidity, support creatives on the platform, and get rewards respectively.
Aftermath of the Polinate IDO launch
Polinate also recently completed their Initial Dex Offering, a crucial step to decide the future action plan of the project. During this period, it launched its $POLI token over a couple of weeks on three renowned platforms. Two decentralized platforms in the form of Uniswap and Quickswap were part of the roster and Gate.io, the centralized exchange, brought up the end of the launch. As a result, $POLI is now tradeable under POLI/USDT.
With the IDO and now the Dapp being properly launched, Polinate is well on its way. $POLI, being the platform’s native token, opens holders to periodic rewards and benefits that will be distributed by the platform.
The other token, pTKN, is meant to be a link between creators and fans. Creators will be able to create an event around the pTKN and assign rewards to it. For the period set out, the token will be freely tradeable by users and will incentivize support for the creator associated with it.
To follow up the Dapp launch, Polinate has recently announced a staking program called ‘social hive club’ that will incentivize staking $POLI tokens for rewards. There are different tiers available depending on the number of tokens staked and each tier comes with its rewards. More details are available on the team’s official social platforms.
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