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What is the PolkaBridge project?
Project PolkaBridge is a decentralized all-in-one application platform designed like a tree Polkadot connection bridge with other blockchains. The most prominent product of PolkaBridge is PolkaBridge DEX – a decentralized exchange that allows users to swap tokens on Polkadot for tokens on other blockchain platforms (and vice versa) without going through any middle party. which time.
PolkaBridge currently works on Ethereum and is planning to migrate to the Polkadot blockchain in the near future.
PolkaBridge Ecosystem It is expected to include multichain and cross-chain AMM, farming platform, lending, launchpad, prediction, NFT, etc. All these products will be developed with Polkadot as base. .
Special features of the PolkaBridge . project
PolkaBridge is designing a decentralized exchange using AMM multichain mechanism that allows users to swap tokens on all blockchains using a single platform. Once fully deployed, PolkaBridge’s multichain AMM will support Ethereum, Polygon, Solana, Polkadot, and Binance Smart Chain (BSC).
For example, users can swap ETH for PBR on the Ethereum blockchain and also swap BNB for PolkaWar (PWAR) – all from one platform.
After launching the decentralized exchange using the multi-chain AMM mechanism, the next step will be to develop cross-chain functionality on it. Basically, this is the mechanism of swapping a token on one blockchain with a token on another blockchain without going through any intermediaries or third parties.
Example: You want to swap Ether (ETH) on Ethereum with Polkadot (DOT) on the Polkadot blockchain. At this point, you just need to deposit ETH into PolkaBridge’s ETH-DOT pool. Here, the data on existing tokens in the pool will be used to calculate the conversion rate to DOT.
After calculating the amount of DOT, the Moonbeam smart contract will return the DOT token to the user’s wallet. The swap is complete.
For the Polkadot blockchain, PolkaBridge will use Moonbeam’s parachain solution, allowing Ethereum-compatible smart contracts to run on Polkadot and stay connected. In effect, PolkaBridge will use two smart contracts running in parallel for the swap: one on Polkadot, the other on the respective blockchain, for example Ethereum. The same principle will also be used to connect with Solana, Binance Smart Chain, and Polygon.
Instead of issuing new tokens or unlocking existing ones, the PolkaBridge platform charges a 0.5% fee on all PBR transactions.
90% of this fee will be distributed to farmers (who provide liquidity on the platform’s dApps). The remaining 10% will be permanently burned and removed from the circulating supply. This will increase the value of the PBR token helping farmers and token holders benefit from the continuously accumulating value.
PolkaBridge Multi-Chain Launchpad
Launchpad by PolkaBridge designed to allow owners token PBR can access investment opportunities and potential projects in the early stages. This ensures high profit margins and profitable opportunities. Which was previously only available to investors with large capital and resources.
All projects are checked by the PolkaBridge team to ensure legitimacy and give users peace of mind when investing in these projects.
PolkaBridge Multi-Chain Staking
This is a multi-chain staking platform where users can stake PBR tokens on different blockchains and earn profits just by depositing it into a liquidity pool.
PolkaBridge Lending and Prediction
The project has planned for a lending platform, where users can lend their properties to generate interest, borrowers can access capital at a certain interest rate. Thereby creating a decentralized economy.
More, PolkaBridge will also introduce a prediction platform, allowing users to bet on real-world events and earn rewards if their predictions are correct. PolkaBridge will integrate oracle function to forward data to smart contracts to decide on event outcome.
Basic information of PolkaBridge token – PBR coin
Token Key Metrics
- Token name: PolkaBridge token
- Ticker: PBR
- Blockchain: Ethereum
- Standard Tokens: ERC-20
- Token type: Utility, Governance token
- Contract Address: 0x298d492e8c1d909d3f63bc4a36c66c64acb3d695
- Total Supply: 85,964,094 PBR
- Public sale (IDO): 20%
- Ecosystem: 30%
- Team: 20%
- Marketing: 20%
- Initial Liquidity: ten%
Token Use Case
PBR is the native token of PolkaBridge, used for the following purposes:
- Administration: PBR holders have the right to vote to change the parameters, features and development roadmap of the PolkaBridge ecosystem in the future.
- Loan fee: Using PBR to pay borrowing fees on PolkaBridge Lending, users will receive a 50% discount and the remaining 50% will be burned to support token deflation.
- Farming to receive rewards.
- Launchpad: To participate in future projects on the PolkaBridge Launchpad, users will have to lock in a certain amount of PBR.
Token Release Schedule
Where to store and buy PBR . tokens
Currently, the PBR token is an ERC-20 token, so you can store it at CHK Wallet, or Metamask.
You can own PBR tokens by trading on platforms like Kucoin, BitMart, MEXC and Gate or DEX exchanges like Uniswap and QuickSwap
Q2 – 2021: Staking and Launchpad
- Multichain Launchpad
- Multichain Staking
Q3 – 2021: AMM
- Multichain AMM (Ethereum, Binance Smart Chain, Polygon)
- Testnet development on MoonBeam
- Expansion to Polygon Ecosystem
- List on CEX level 1 exchanges
Q4 – 2021: Integration of Polkadot
- Migrate PBR to MoonBeam parachain
- Integrate PolkaDot into the PolkaBridge DEFI application (AMM, Staking, Farming, LaunchPad)
Q1 – 2022: Crosschain AMM
Q2 – 2022: New features
PolkaBridge project development team
Evaluation of the PolkaBridge project, should I invest in PBR tokens or not?
Project PolkaBridge is a project that has just worked on DEX and Bridge which is quite potential on Polkadot’s ecosystem, but also depends on the Moonbeam project. Currently, Moonbeam has started to launch, so it is entirely possible that PBR will explode in the future.
Through this article, you have somewhat grasped the basic information about the project to make your own investment decisions. CHK is not responsible for any of your investment decisions. Wish you success and make a lot of profit from this potential market.
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