As noted by Polimec in its press release, “The [Polimec] protocol 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.”
Polkadot (DOT) has launched Polimec, a decentralized protocol that provides fundraising facilities for Web3 projects. As the first decentralized Web3 funding parachain on Polkadot, Polimec aims to enhance transparency, accessibility, and regulatory compliance in the fundraising process.
Polimec's initial evaluation will feature Apillon, a Web3 infrastructure platform tailored for developers. Apillon, which supports developers with decentralized services like file storage and hosting requires users to have a Deloitte-powered KYC Credential. Possessing this authorization will allow clients to review funding details and bond their Polimec tokens (PLMC) to the projects they assess.
The evaluation process will span 28 days. During this time, users can conduct thorough due diligence by examining project details such as white papers, team backgrounds, and tokenomics. If a project reaches 10% of its target funding during this phase, it progresses to the next round. Bonded PLMC tokens will remain locked until the funding round concludes or is canceled.
Additionally, the protocol's decentralized KYC mechanism, developed in partnership with KILT and Deloitte, allows pseudonymous participation from the user base while ensuring security and regulatory compliance. The platform's cost model also won’t include upfront fees or fiat charges. Instead, the fees will be applied only upon successful fundraising. Besides fundraising, the new Polkadot-based platform will support vesting schedules and community feedback mechanisms.
