What is Polka Starter? – IDO on Polkastarter extensive explanation for beginners =

If you have been in the crypto world for a while, you can certainly remember the ICO hype of 2017. Literally every ICO held between the beginning of the summer of 2017 and the end of the year skyrocketed in value.

Now that we are in a bull market again at the moment, we see something similar happening. However, this time it is not ICOs, but IDOs that go “to the moon”. Some IDOs even flip over 20, 30, 40 or even 50 times!

A common platform for such IDO’s is Polkastarter. In fact, Polkastarter is the largest IDO launchpad platform at the moment. But what exactly is a “launchpad”? And what exactly is Polkastarter ? And perhaps most importantly: how can you participate in these IDOs on Polkastarter? We cover that and more in this blog.

Quick view:


  • Quick view:
  • What are IDOs?
  • What is Polka Starter (POLS)?
  • What problem does Polkastarter solve?
    • What are fixed swap pools?
  • How do you participate in an IDO on Polkastarter?
    • Public IDO pool for non-POLS holders
    • Private IDO pool for POLS holders
  • Polkaster’s POLS token
    • Tokenomics
  • roadmap
  • Polka Starter Team
  • Conclusion


What are IDOs?

Before we start with the detailed explanation of Polkastarter , it is wise to first have an overview of what an IDO exactly is. IDO stands for Initial DEX Offering, which translates to original DEX offering in Dutch. You probably won’t learn much from that translation, but it still describes well what an IDO actually is.

To understand the description of IDO you need to know what a DEX is. A DEX is a decentralized exchange. The best-known decentralized exchanges at the moment are Uniswap (UNI) and PancakeSwap (CAKE). The difference with a central exchange, such as those of Binance or Bitvavo, is that you always remain in control of your crypto coins. With central exchanges, you stole your coins from the exchange, as it were. With decentralized exchanges, you keep those crypto coins in your own wallet.

Initial DEX Offerings, IDOs, are tokens released for the first time on a decentralized exchange. In other words: an IDO is when a project chooses to launch a token on a DEX instead of on a central exchange. So: an IDO is a launch of a crypto coin on a decentralized exchange .

At an IDO, a crypto project makes the cryptocurrency’s first public debut on a DEX to raise money from retail investors, like you or me. IDOs are a lot like Initial Exchange Offerings (IEOs) in that respect, where crypto projects launch their token and raise funds from a centralized exchange. One similarity is that direct trading is possible in both forms, IDOs and IEOs.

There are also a lot of differences between an IEO and an IDO. These differences are a big reason for the recent popularity of IDOs:

  1. Instant liquidity

First, an IDO offers fast liquidity with little to no slippage due to available pools of liquidity in a DEX.

  1. Lower costs

Some central exchanges charge hundreds of thousands of dollars for a cryptocurrency to get on their exchange. On top of that, many exchanges are picky about the tokens they list, making it more susceptible to censorship from a central party. It costs a lot less money to be listed on a decentralized exchange, so smaller projects also get a fair chance.

  1. Public and fair fundraising

Projects that raise funds using the IDO crypto model often do not need to rely on traditional private investment to kickstart their operations. There have been some scandals in the past where private investors sell their tokens when the public token sale goes public.

“Every advantage has its disadvantage” Cruijff would say. And that also applies to IDOs. For example, with IDOs there is the danger of a so-called “back pull”, the price can skyrocket due to the use of bots and there is a lack of control mechanisms.

What is Polka Starter (POLS)?

We now know that IDOs stand for Initial DEX Offerings and that it is a token launch on a decentralized exchange. Polkastarter is a project focused on IDOs. So it is focused on launching crypto coins in a decentralized way. You call Polkastarter an IDO launchpad, or an IDO launch platform.

IDO launchpads provide a way to raise capital for new projects while giving investors early access to token sales. An added benefit of launchpads is that they help create a community for the crypto projects launched on them.

Polkastarter is a cross-chain decentralized exchange (DEX) built on Polkadot for token pools and auctions. The Polkastarter platform serves as a decentralized crowdfunding launchpad for emerging crypto projects to raise capital and build a community.

What sets Polkastarter apart from other platforms is that it runs on the Polkadot network. Polkadot (DOT) is a cryptocurrency that is very focused on the so-called interoperability of blockchains. Read a detailed explanation of the Polkadot project here. In short, crypto and blockchain interoperability is the interoperability of different types of blockchains, for example the Binance Smart Chain with the Ethereum blockchain, without restrictions. This cooperation of multiple blockchains is also referred to as “cross-chain”.

Thanks to these cross-chain properties, Polkastarter includes token standards beyond just Ethereum ERC-20 tokens. Thanks to the scalability solutions of the Polkadot ecosystem, Polkastarter users experience super fast and cheap transaction confirmations. This was created as a solution to the slowness of the Ethereum network.

This is achieved using Polkastarter’s POLS utility token. Holders of 3000 POLS tokens or more will get a spot for the token launches. Fortunately, that’s not the only way to get involved in token launches on Polkastarter, given that 3,000 POLS is currently worth just over $9,000 dollars. Polkastarter also offers public auctions for non-POLS holders to participate in. We will take a closer look at the POLS token later in this blog.


What problem does Polkastarter solve?

The very first Initial Decentralized Exchange Offering (IDO) took place on Binance DEX in mid-2019. Back then, DEXs were a very small market with little volume and attention. The explosion of DeFi in 2020 changed this. IDOs became “hot” because they were a cheap way to circumvent the high costs of listing on a central exchange.

In the DeFi summer of 2020, many projects launched on Uniswap. While IDOs on Uniswap certainly reduced the initial cost of a project’s token launch, that convenience came at a high price. Savvy and cunning investors began to “run the front” of IDOs by buying up the entire pool in one fell swoop through bots.

Those bots are always faster than someone like you and me who just use a mouse and a keyboard. Because the bots buy up the entire pool in one fell swoop at the lowest price, the price immediately shoots up, so that the regular investor pays the top price and the bots sell everything again within a few minutes with a big profit.

Polkastarter was created to counter the problem of “front running”. Polkaster does this on the basis of:

  • Cheap trades
  • Secure, ultra-fast swaps
  • Fixed swap pools
  • User-friendly design
  • The ability to buy and move tokens between different blockchains (cross-chain)

What are fixed swap pools?

Fixed swap pools, or fixed swap pools, are pools with a fixed price. Polkastarter lets projects make token launches at a fixed price, which will be maintained as long as there are tokens left in the supply. This should ensure less volatility around a token launch.

It also gives a project and its investors more transparency about the amount of money raised and tokens sold. For example, a project can now easily and transparently indicate that they sell X number of tokens for an X amount per token, with which they collect X money. This data is not so easy to calculate when the number of tokens sold varies greatly with price volatility.

How do you participate in an IDO on Polkastarter?

So Polkastarter is a project that solves a lot of problems for the smaller investors who went “REKT” thanks to front runners and bots at IDOs on Uniswap, for example. But how do you participate in such an IDO on Polkastarter?

As stated above, there are basically two types of IDOs on Polkaster. One is for non-POLS holders and the other is exclusively for POLS holders. In this blog we cover both methods.

Both are IDOs on Polkastarter: one is for POLS holders, the other is public for non-POLS holders

Public IDO pool for non-POLS holders

Step 1: whitelisting

To join a standard pool, start by choosing the project pool you want to join. Almost every project requires you to be whitelisted beforehand, so check first if the project requires a whitelist and if so, follow their whitelisting instructions right away.

The instructions to get whitelisted are not described on Polkaster’s website. For this you really have to go to the website or social media of the project in which you want to participate. The steps to get whitelisted usually consist of following the project’s social media and posting a tweet.

Example of an article from a project about the whitelisting requirements

Step 2 : Go to www.polkastarter.com and click “Go to App”.


Step 3 : Choose the IDO you want to join and make sure you are on the right network (Ethereum or Binance Smart Chain).


Step 4: Connect your Metamask wallet.

Step 5: View the pool’s minimum and maximum allocation

Step 6: Click “Join Pool”,


Step 7: Read and accept the disclaimer


Step 8: Enter how much ETH you want to spend to buy the token

Step 9: Click the Join Pool button


Step 10: In the pop-up, click on confirm the transaction in your wallet

Step 11: It may take a while for your transaction to go through, especially on the Ethereum network. You can choose to increase your transaction speed by adding extra gas to your transaction in your Metamask.

Step 11: Once confirmed (be patient), you just have to wait for the pool time to end before you can claim the tokens.

Private IDO pool for POLS holders

Some pools are exclusive to POLS holders. At the same time, this is also a good reason to buy the POLS token. The purchasing process of the IDOs is very similar to the public pools, only the first steps are slightly different. Please note: even for exclusive POLS holder pools you must go through the whitelisting process described above.

To join a pool exclusive to POLS holders, you must first make sure you meet one of the following two requirements:

Option 1

Minimum 3000 POLS in your Metamask wallet.

Option 2

Become a liquidity provider on Polkaster’s Uniswap pair. Here you need to provide at least 1 ETH in POLS + 1 ETH in liquidity.

Read the official Polkaster blog here on how to become one of their liquidity providers.

Once you meet one of the two requirements, you can go through the same steps as with the public pools.

Polkaster’s POLS token

Polkastarter’s own utility token is the POLS token. The POLS token is designed for different use cases.

First, POLS tokens can be used to pay for transaction fees.

Secondly, the POLS token will be used for community governance as part of their recently announced Polkastarter “Board of Directors”.

In addition, the POLS token can also be used to provide liquidity in a liquidity pool.


Total inventory: 100 million POLS
Original circulating inventory: 17.875 million POLSSeed sale price: $0.0125 USDPrivate sale price: $0.025 USDUniswap listing price: $0.05 USDTotal amount raised: $875,000 USDTotal POLS sold: 42.5 million (42.5% of the total offer)


The tokens of the team and the organization itself are locked up for at least a year and cannot be sold before that, as shown in the image below.



Polkastarter has been the biggest IDO launchpad for a while now, but that doesn’t mean they haven’t kept developing.

In the image below you can see Polkaster’s roadmap for the rest of 2021. Specifically, the following applications are expected in Q2, Q3 and Q4 of 2021:

  • Polka starter 3.0
  • Cross chain token swaps
  • Dynamic ratio swaps



Polka Starter Team

So far, Polkastarter looks really good, and don’t get us wrong: Polkastarter is a beautiful and ambitious project, but a project is rarely perfect. One of the less good aspects of the project is the lack of information about the team behind Polkastarter. Crypto enthusiasts, especially decentralized exchange enthusiasts, love transparency, so more information about the team would not be a luxury.

That said, the two founders of the project are clearly mentioned on the website, including LinkedIn profile which gives us a bit more information about the two.

Daniel Stockhaus is the CEO of the project and has been an entrepreneur for 20 years. He has that experience mainly in the field of marketing and communication, but less so in the field of blockchain.

Tiago Martins is the CTO of Polkastarter and he is an experienced software developer with a number of successful projects and startups to his credit.

Of course, the team does not consist of just one developer. It would be nice for us to get a little more insight into the Polkastarter development team.

The team is also supported by two advisors. Danilo Carlucci, former YouTube UK Head of Community, and Matthew Dibb Chief Operating Officer of Stacks Funds.



It’s no surprise that Polkastarter is currently the number one IDO launchpad platform. Polkadot’s interoperability combined with the addition of fixed swaps make Polkastarter a nice launchpad for regular investors.

We have seen Polkastarter solve the problem of IDOs launched on DEXs such as Binance DEX and Uniswap without fixed swaps. There soon arose a problem of front runners and bots buying up the entire pool and making them money quickly.

Polkastarter makes it fairer for investors through fixed swaps and at the same time provides a user-friendly interface. In addition, there are a number of interesting milestones ahead in 2021.

That said, there is still room for improvement in terms of team transparency. At the moment, only the CEO and CTO are listed on the website, along with the crypto project’s two advisors. A more comprehensive page about the entire team, including developers, would be an improvement, in terms of transparency.

There are quite a few complicated and technical topics covered in this article. Hopefully it’s explained clearly and simply enough for you to understand. If you still have questions, we would like to invite you to throw a ball in our AllesOverCrypto Facebook group. There, AOC’ers and members of the group are always willing to answer your questions. See you there then!







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