Tokens on Polimec

Participation Currencies

Participation currencies are any currencies the issuer accepts for contributing to the funding round and are specified by the issuer in the funding application (e.g. stablecoins, DOT, KSM).

Contribution Tokens

Contribution tokens are tokens issued by projects which successfully raised funds on Polimec. They are distributed to evaluators and participants who contributed to the project’s successful funding round. Contribution tokens are transferability-locked in the wallet of participants or evaluators after distribution and are automatically converted to the project’s transferable mainnet token at launch.

The purpose of the contribution token is to provide trust and transparency by serving as proof of participation and is used to incentivize network participants and the community. In addition, it facilitates the efficient distribution of the project’s mainnet token at launch by allowing the migration of balances to the mainnet and conversion of the corresponding contribution tokens in a fully automated process.

Mainnet Tokens

Mainnet tokens are tokens issued by projects on their fully developed and deployed mainnet or blockchain protocol.

Polimec facilitates the migration of contribution token balances to the project’s mainnet in an automated and trustless way. This is achieved by a simple token conversion between the project’s contribution tokens and the project’s mainnet tokens.

Polimec’s balance migration process introduces transparency by maintaining a complete track record of contribution token balances and ensures a secure and efficient token distribution process for issuers and participants.