PolkaBridge April 2022 Update
We are almost halfway through the current year 2022 and it’s time for our April update. The PolkaBridge team is grinding along to meet our goals set in the roadmap for this year. As always, we continue to form new strategic partnerships, launch exciting concepts on our crowdfunding platform, burn the monthly 1M PBR and initiate more community based programs. Let’s dig in!
IDO Projects On PolkaBridge Launchpad
PolkaBridge held two IDOs in the month of April — the first one was the Kyte IDO held on 18 Apr. Kyte is a Web3 infrastructure company developing new financial tools to take back control of finance from centralized companies. It was sold out immediately, however due to the underperforming price, we decided to refund our users to protect them against downside which would have otherwise harmed their capital.
The second IDO of the month was Legend of Galaxy — a metaverse card role playing game. It was held on 25 Apr. For this one, the price dipped after IDO and we decided to refund our investors to ensure continued quality of PolkaBridge launched projects and our promise to support our community against loss.
PolkaBridge Partners With Kenzo Ventures
Kenzo Ventures is a venture capital group which serves as a growth incubator for early- stage projects by providing capital, marketing and consultancy expertise. We are proud to have partnered with them on 14 Apr as they can refer quality IDO projects for our crowdfunding platform and allow us to provide exciting new investment opportunities for our community!
PolkaBridge 9th Burn — $300,000 Worth Of PBR Burned
As everyone knows by now, PolkaBridge has a monthly burn program. We burn 1 million PBR tokens per month to reduce circulating supply and provide a boost to the value of the existing tokens. In the month of April 2022, 1M PBR tokens were again burnt — around $300,000 in value. Currently, around 79M total supply is remaining, out of which 46M is in active circulation.
Strategic Partnership With Safle
PolkaBridge has also strategically partnered with Safle on Apr 23 — a next-generation non-custodial wallet, self-sovereign identity protocol and Web 3.0 infrastructure provider for the decentralized ecosystem. It enables secure private key management and seamless experience for dApps, DeFi and NFTs.
Owing to the recent tie-up, Safle services will be integrated with the PolkaBridge protocol allowing users to access the services on multiple blockchains by verifying identity and providing authentication with Safle through their clients on multiple platforms (desktop, mobile and browser extension) — all set to be launched soon.
PolkaBridge Multichain AMM Binance Smart Chain (BSC) Integration
The multichain automated market maker (AMM) platform of PolkaBridge integrated the Binance Smart Chain (BSC) blockchain on 09 Apr in our quest to provide seamless liquidity swaps across multiple blockchains. We also allowed farming on the BSC section with PWAR-BNB and BNB-USDT pairs. The PolkaBridge team has always strived to expand to new blockchains outside our native bases of Ethereum and Polkadot.
TomoChain Partners With PolkaBridge
PolkaBridge has also partnered with TomoChain on Apr 25 to feature this blockchain’s projects on the IDO platform. It is a scalable blockchain-powered via Proof-of-Stake voting consensus and used commercially by companies globally. We are collaborating with them to expand our list of supported blockchains and offering a wide range of investment opportunities to our investors. PolkaBridge’s integration proposal received nearly 100% upvotes from the TomoMasterDAO community and we will start featuring their projects in the near future.
PolkaBridge INO Project — ShoeFy
PolkaBridge’s initial NFT offering (INO) platform hosted ShoeFy crowdfunding from 04 Apr to 07 Apr. It’s an innovative metaverse platform that has developed a hybrid between non fungible (ERC-721) and fungible (ERC=20) tokens. ShoeFy offers real utility by allowing users to farm/stake to generate passive income. It was sold-out in record time.
PolkaBridge is a decentralized all-in-one financial application platform. The PolkaBridge ecosystem is expected to include multi-chain & cross-chain AMM, Farming, Lending, Fundraising platform (Launchpad), Prediction, NFT, and more. All products will be developed with Polkadot in the center.
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