Polimec price

PLMC

#3944

Polimec’s vision is to transform finance for a fair and decentralized future.

Polimec’s mission is to shape the future of finance by democratizing access to capital and transforming the landscape of direct ownership. By leveraging decentralized technologies, Polimec delivers products and solutions for a more inclusive world, where everyone has the power to participate and own.

Introduction to Polimec

Polimec started in late 2020 as a project conceptualized by the team behind KILT Protocol and became an independent project to realize the vision of the first decentralized, community-driven funding protocol for Web3. Since then, a dedicated team with extensive experience in crypto and financial services has taken on the protocol’s further development and the network’s future launch. In June 2022, the Polimec Foundation (Zug/Switzerland) was established, a non-profit organization dedicated to developing, growing, and promoting Polimec.

Purpose of Polimec

Polimec provides an automated framework for projects to raise funds within a broad and diverse community with transparent and fair access for all. The protocol provides access to fundraising and manages the issuance, distribution, and conversion of tokens to mainnet. Polimec allows different stakeholders to participate in funding rounds, and minimizes information asymmetry between participants and issuers to grow their community. The underlying reward mechanism ensures that the interests of the various participants and projects are aligned for sustainable fundraising.

Using on-chain credentials enables user verification for KYC/AML and other regulatory purposes while staying pseudonymous. This allows network participants to comply with relevant regulations in a decentralized and efficient process - while preserving data privacy. Furthermore, the native PLMC token enables access to fundraises and a variety of additional functionalities such as evaluations, staking, liquidity provisioning, governance, and more.

Roles on Polimec

Issuers on Polimec are projects raising funds on Polimec. After providing the necessary documentation and structuring their funding process, issuers are subject to approval from evaluators to enter the funding round and depend on participants to achieve a successful fundraise.

Evaluators on Polimec are incentivized to assess projects accurately, as they earn rewards for successful evaluations or get slashed for unsuccessful ones. The evaluation process is intended to be transparent, with evaluations recorded on the blockchain and evaluator DIDs linkable to social media profiles.

Participants on Polimec are actors categorized as retail, professional, or institutional. They can browse projects and participate in those for which they are eligible based on their credentials. Unsuccessful funding rounds will result in an automatic refund of the participants’ contributions. Contribution tokens are automatically converted to mainnet tokens once a project’s mainnet goes live.

Stakers on Polimec earn staking rewards by nominating collators who help stabilize the network. Stakers get paid daily, and the amount they make with staking is proportional to the number of staking participants and the weighted average amount of PLMC bonded (pro rata).