Polimec is here, and we are excited to share how the project has evolved.
Polimec, originally conceptualized by the team behind KILT Protocol, has spun off as an independent project to realize the vision of the first decentralized, community-driven funding protocol for Web3. A dedicated team with extensive experience in blockchain and financial services has taken on the further development of the protocol and the future launch of the network in late 2023.
Connecting Stakeholders beyond Funding
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 governs the issuance, distribution, and conversion of tokens to mainnet.
Polimec maximizes value creation for Web3 projects, 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 from KILT enables user verification for know your customer (KYC)/anti-money laundering (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 participate in fundraises and a variety of additional functionalities such as staking, gamified social credit building, and more.
“I am very excited for Polimec to become the first decentralized community-driven funding protocol for Web3. Allowing various participant types to contribute alongside each other at similar terms enables a more efficient allocation of capital and including the community beyond the fundraise. Leveraging Polkadot’s interoperability enables the integration of KILT credentials for a regulatory compliant funding protocol on-chain.” — Kasper Mai Joergensen
Project Evolution
The first Polimec whitepaper draft published in late 2020 created much excitement in the Polkadot and KILT community. Considering that only centralized, inefficient, and inaccessible fundraising options exist today, the introduction of a decentralized, community-driven funding protocol is essential for a growing and maturing Web3 ecosystem.
Polimec utilizes on-chain credentials issued by trusted third parties on KILT to ensure adequate knowledge and verification of all participants, from institutions to professionals to crypto community members. As a commitment to the partnership, KILT founder Ingo Rübe has joined the Polimec advisory board. Rübe stated:
“Polimec has evolved from our original concept of a decentralized tokenization platform to an accelerator for the entire Polkadot ecosystem. We are thrilled that a team with this financial and industry expertise will take Polimec to the next level, and look forward to collaborating on regulatory compliant systems that advance the blockchain industry.” — Ingo Rübe
What is next?
We are thrilled to share the new version of the Polimec whitepaper with distinctive updates to the initial Polimec vision, covering all the details about the native PLMC token and network functionalities.
Visit our new website www.polimec.org to check out the project documentation, roadmap, and get excited about what comes next.
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About us
Polimec is a decentralized community-driven funding protocol developed on Polkadot to accelerate the Web3 ecosystem. The open-source and module-based blockchain system facilitates fundraising in a regulatory compliant and sustainable manner using on-chain credentials.
