Poolz — A Promising DeFi Project
With the growing support for DeFi projects in the crypto industry, it’s not even surprising to see one project emerging after the other. Poolz, a DeFi project was just launched recently. It is a decentralized layer-3 swapping supported by blockchains, ERC-20 tokens, and ERC-20 wallets. Now, what is the purpose of this project? The Poolz protocol was created mainly to bring project owners and investors closer. How? By providing the option for liquidity for promising projects and will give access to investors an exclusivity on swap pools. The platform consists of two categories: Project Owners (PO) and Liquidity Providers (LP).
Using the platform, the Project Owners can create a poll for the token in their wallet they want to auction with total allocation included. They will be required to set the parameters including the duration of the poll. There are two types of polls. The Direct Sales Polls (DSP) and the Time-Locked Polls (TLP). With DSP, the token will be immediately transferred to the wallet of the Liquidity Provider (LP). But with TLP, the transfer will happen depending on what was specified by the Project Owner (PO) The Project Owner will enjoy an 85% decrease in the gas transaction fees as compared to the current rate in the market. After auctions were posted, this is where the Liquidity Providers (Investors) comes in. They can join any of these posted auctions on the platform and choose which token they want to provide liquidity. After the transaction is completed, tokens will be transferred to the Liquidity Provider’s wallet. The duration of transfer will depend on what was set by the Project Owners. Investors are encouraged to run an authenticity check before making any liquidity in the platform. Smart contracts, owners’ portfolios, and other relevant documents should be properly examined. This is to avoid any fraud and protect the interest of the investors.
The platform will be powered by POZ token, an ERC-20 token built on Ethereum.
POZ token will be used for staking, rewards, and governance. The token has a total supply of 5,000,000. The 20% of the total burn will be burned as part of the Limited Top Value burn policy. The initial supply of 750,000 POZ token will be distributed in their Seed Sale, Private Sale, and Auction Polls. Let’s take a closer look at their roadmap to know more details on their distribution. Seed Sale will be completed on Q3 of 2020 in which 240,000 POZ token will be distributed with a price offer at 0.455 USD. Private Sale will follow on Q4 of 2020 and 360,000 POZ token will be offered at 1 USD. And for the Auction Polls which will be happening on the Q1 of 2021 150,000 POZ will be auctioned at 1.6 USD. The launching of Poolz platform V2.0 is scheduled within the Q3 and Q4 of 2021.
With the release of the white paper, Poolz has already earned $180,000 in its Seed Sale. This reflects overwhelming support from investors.
What makes this project different from the other DeFi projects? There are a lot of issues involving most DeFi projects. Scalability is one of these concerns. This refers to the ability of a cryptocurrency to deal with the influx of large transactions at a time. Another issue is not being user-friendly. To address all these major issues, the protocol was created using React Native. With these issues being resolved, it will definitely attract more investors.
Choosing a DeFi project to invest can be very tricky. With the release of the white paper, Poolz has already earned $180,000 in its Seed Sale. This reflects overwhelming support from investors this early. So if you are looking for new investment, it’s good to consider investing in Poolz. To learn more about the project, you can visit their website at https://poolzdefi.com/ or you may also join their telegram channel at https://t.me/PoolzOfficialCommunity.