Pollen DeFi Platform Sets Its Eyes On The Avalanche Ecosystem

The Pollen DeFi platform is preparing for an IDO of the native token by December 16 and the first decentralized asset management protocol is focused on the Avalanche ecosystem as we can see more in today’s altcoin news.

The Pollen DeFi platform will list its PLN governance token at 14:00 UTC with more details expected to be confirmed in a few days. Some were surprised that Pollen launched on Avalanche rather than on Ethereum with the decision being made after the feedback from the wider community. As Pollen expressed in a tweet:

 “We love ETH and will deploy when the transactions are not a barrier to all but whales.”

We have received so much love from the @avalabsofficial team and @avalancheavax community since we made the decision, @el33th4xor.

We intend to be a key project in the #avalanche ecosystem, connecting up the projects and community in a brand new way: community managed indexes https://t.co/sjDhJBSbhd

— Pollen DeFi 🔺 (@PollenDeFi) December 11, 2021

Pollen conducted a token sale on the pre-IDO Launchpool platform and raised $750,000 USD in the process. The protocol introduced staking on the BSC-based launchpad and enabled the LPOOL token holders to mine allocation of PLN. Only the raise occurred on the Binance Smart Chain with the tokens minted on Ethereum. Pollen is flexing its ability to perform on other chains with ease as well. The community-powered DAO allows users to vote on the influence and allocation of tokens within the asset pools but Pollen aims to be tailor-made for Defi 2.0 with the community members pulling together as one and managing crypto portfolios.

The competition is incentivized between the individuals on the Pollen Leaderboard with the traders compelled to climb all rankings and accrue governance tokens. The same tokens are used to manage asset pools while another token dubbed Portfolio Asset Index token that will be rebranded, functions as the native token index and represents the users’ share of the asset pool. The comprehensive reputation system ensures that the users’ voting power is equal to their contributions based on the token stakes and decision-making history.

By democratizing the access of the managed crypto portfolios and favoring their approach of trade together-win together, Pollen hopes to set itself apart from the other Dapps which came to define it as wild, especially in user interface and experience. Although Pollen will go live on Avalanche whose DeFi ecosystem exploded, the team expects it to become a cross-chain venture.

Pollen developers created bridges and deployed other products on multiple EVM-compatible chains, with no plans to launch the protocol on networks such as Moonbeam, Ethereum, Terra Luna, Polygon, and others. 2022 looks to be a good year for the project with the community investment program upcoming in Q1. Pollen will migrate from a central organization into the DAO structure and vests more power into the hands of those that create other proposals and portfolios.