An Overview Of Poolz - Bringing genuine blockchain-based projects closer to investors
Are you involved in the blockchain/cryptocurrency industry?. Are you an investor, looking for a genuine project to invest in?. Are you looking for a suitable and efficient way to fund your blockchain-based project?. Worry no more.
I present to you POOLZ.
Introduction to POOLZ
Poolz is a decentralised platform which aims at providing a convenient, reliable and efficient method for funding blockchain/cryptocurrency based projects. Poolz provides investors an opportunity to invest in genuine project with low risks involved.
Poolz adopt a decentralised 3-layer swapping protocol in it operation. It does not take custody of any asset or funds on it platform, the assets are stored in an auditable smart contract.
Poolz support only ethereum blockchain tokens now, it aims to add other blockchain tokens in the future
An Overview of POOLZ
The are two categories of poolz users namely; project owners or pool creators and the investors or liquidity providers.
For a project to be funded, it owner must create a pool on the poolz platform. An investor if interested in the project would join the pool by swapping for the pool project token.
The pool created are of two types namely;
- The direct sale pool: With this type of pool an investor get his/her token immediately after the swap.
- Time locked pool: In this type of pool investors get their token after a certain period of time. The token are locked up for a certain period before been released to the investors.
To help investors in their decision making process, pools are given status at any given time. These status includes; Created, Opened - the pool is opened to all poolz users, Out-of-Stock - This means the initial token allocated to for the pool is finished but the duration for the pool is not, Finished - The agreed time for the pool is over, any token left is sent to the pool creator wallet, Closed - This means the pool is finished and tokens have been sent to the investors.
Before a pool is created, it owner must provide some information such as it token contract address which contains information about the token, total supply of token to be used for the pool, the period of time the pool should be runned and whether on a direct sale or a timed-locked sale.
A pool creator is required to pair their token with ETH or DAI or both. More swapping option will be added in the future.
After filling the required information, the pool is registered on the ethereum blockchain and the token for the pool is moved from the wallet chosen by the creator to a Hashed Timelock Contract where it is kept for the duration of the pool.
The gas fee for creating a pool and updating the blockchain will be made 85% less than the existing market standard guaranteed by Poolz smart contract.
Poolz has created a marketplace where investors will be able to view all pools managed by Poolz including past, ongoing and oncoming pool. Useful information about a pool such as opening time, remaining time, token name, payment method, swapping ratio and present status of a pool, supported blockchain and wallet.
These useful information will help investors in choosing a project to invest. Moreso, investors are advised to do some research on a project before joining.
All that is required of an investor is to click the "join" button and provide the amount of auctioned token he/she is ready to buy or amount of ETH/DAI they are ready to swap. Once done, the ETH or DAI is deducted from the wallet chosen by the investors and the auctioned token is sent depending on the pool type.
Note: Investors will receive rewards for participating in a pool in proportion to their contribution and liquidity provided over the week. This rewards are given out in a weekly basis.
POZ Token
This a token designed by Poolz to be used to facilitate operation on the platform. It is an ERC-20 token which is the official currency of the platform. The token will be used for project development, for governance of poolz platform, as an incentive etc.
Holders of POZ token will be given opportunity to earn income by staking the POZ token in specific wallet. The would also be given voting right for staking their POZ token and better swap ratio.
Conclusion
The issue of lack of funding has really affected the blockchain/cryptocurrency industry.
Poolz provides an efficient, reliable and effective method of funding blockchain project and also provide investors with genuine project for investment.
With Poolz, the would be a smile on every participant in the blockchain/cryptocurrency industry through it funding method, reduced risk investment and it improvement of the blockchain atmosphere with genuine and reliable project.
For more information about POOLZ, visit
Website: https://poolzdefi.com/
Whitepaper: https://docs.poolzdefi.com/whitepaper/litepaper
Twitter: https://twitter.com/Poolz__
Telegram: https://t.me/PoolzOfficialCommunity
Medium: https://medium.com/@Poolz
Author details
Bitcointalk profile name: Assam Kingsley
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2676658
POA link: https://bitcointalk.org/index.php?topic=5280470.msg55386890#msg55386890