PolkaBridge’s Report Q1, 2021
The PolkaBridge team is proud to announce the completion of all aims and objectives, which we set out to achieve in the first quarter Q1 of the year 2021. This is a moment of immense pride for us, as we were able to keep our promises with the community. We are certain that the future aspects of our roadmap will continue to get delivered too, in this manner. Let’s look at some of the things that we introduced in Q1 2021.
Deflationary Farming & New Smart Contract
The Q1 2021 saw the introduction of our long awaited and widely anticipated deflationary farming feature, which is one of a kind and doesn’t result in inflation diluting token holder’s value like most other protocols. It derives tokens from a portion taken from each transaction, being routed to the farming pool to be distributed as rewards to the staker.
A certain part of each transaction on the network is burned too. For this purpose, we introduced a new token contract and designed a new migration/staking interface. The net circulating supply gets smaller and smaller every time, resulting in value accrual for the token holders through deflation or token burning.
PBR Token Exchange Listings And Liquidity Locks
This quarter also saw the PBR token listing on Uniswap — the world’s premier decentralized exchange and locked liquidity with Unicrypt guarantees. The same liquidity was added anew, after the introduction of the new smart contracts and token standard. PBR token was also listed on Bilaxy, MXC and Gate.io.
Website Improvements And Lite Whitepaper
We have also redesigned the PolkaBridge website to be more detailed, full of explanations, graphics rich and featuring a smooth user interface. As we move on to the next phase of our roadmap, it’s vital that our website clearly conveys the philosophy, objectives of our project and it’s functionalities to users.
PolkaBridge team has also recently published a short and simplified version (2.0.1) of our whitepaper, which differs greatly from the earlier available highly technical version. It was rewritten after the community’s request to have a lite whitepaper, which presents the overview of the project, without going into complexity and technical details.
Ask Me Anything Session With Our Partners
PolkaBridge also accelerated the partnerships in this quarter, to search for new avenues of cooperation and more opportunities of growing together, along with the blockchain industry’s promising projects. As a result, we have had ask me anything (AMA) sessions and partnerships with the following projects:
PolkaBridge x Casper Labs held on March 12 at 04:00 PM UTC.
Casper Labs is the blockchain platform purpose-built to scale opportunities for everyone. Building toward blockchain’s next frontier, it is designed for real-world applications without sacrificing usability, cost, decentralization or security.
PolkaBridge x Public Mint AMA held on March 15 at 01:00 PM UTC.
Public Mint bridges the worlds of traditional fiat with the innovative world of crypto, offering a complete platform for synthetic fiat, fully collateralized, regulated and it’s deposits are insured by the FDIC.
PolkaBridge x Deeper Network held on March 27 at 06:00 PM UTC.
Deeper Network represents the world’s first decentralized blockchain network for building a truly private, secure and fair Internet. Deeper Network Inc. was founded in 2018 with the vision of leveraging blockchain technology to empower the real users of the internet.
PolkaBridge x KILT Protocol held on March 29 at 04:00 PM UTC.
KILT is an open-source fat blockchain protocol for issuing claim-based verifiable, revocable, and anonymous credentials in Web 3.0. It allows end users to claim arbitrary attributes about themselves, get them attested by trusted entities, and store the claims as self-sovereign credentials (certificates).
PolkaBridge Initial Decentralized Offering (IDO) Launchpad
PolkaBridge is all set to launch the Initial Decentralized Offering (IDO) Launchpad platform on April 12, 2021. It will serve as an incubator for promising projects and important concepts. Like other launchpad projects, this platform requires that participants hold at least 5000 PBR tokens, to gain exclusive access to these lucrative early stage investment opportunities. This will serve as an additional use case for PBR tokens and motivate users to keep holding PBR tokens.
The first project to be featured on our platform would be Beyond Finance. It is a decentralized platform for creating and trading synthetic financial products. Around 500 addresses (350 from token migration events and 150 by whitelisting) will be selected to purchase BYN tokens for $100 each.
The significance of the project can be understood from the fact that Beyond Finance has already completed a $7.5M seed funding round from leading blockchain funds, which speaks volumes about the importance and legitimacy of the project!
Future Plans
The PolkaBridge team is very excited about the future of this project and highly motivated to reach the second quarter targets too, just like the first one. We aim to onboard more launchpad projects, form partnerships with new ones, onboard the Polkadot network directly and do a lot of other things in this quarter so stay tuned!
