Polimec, a decentralized and community-driven funding parachain, has officially launched on Polkadot and is set to begin its first project evaluation, according to a May 20 statement shared with CryptoSlate.The platform evaluates Web3 projects for potential fundraising, aiming to bring transparency, accessibility, and regulatory compliance to the process.Polimec’s launch marks a new era in decentralized fundraising, prioritizing access, community involvement, and regulatory compliance. Stakeholders have stated that the platform is poised to revolutionize funding for Web3 projects.The parachain’s first evaluation round will feature Apillon, a Web3 infrastructure platform for developers.Apillon empowers developers within the Polkadot ecosystem, offering decentralized services like file storage and hosting. To participate in the evaluation, users must possess a Deloitte-powered KYC Credential. This credential grants access to the Data Room, where users can review funding details before bonding their Polimec tokens (PLMC) to the projects they evaluate.Meanwhile, the evaluation process will last 28 days. Users can conduct due diligence during this period by examining the project’s white paper, team, and tokenomics.By bonding their PLMC tokens, users indicate interest in the project. If a project reaches 10% of its target funding during this stage, it automatically progresses to the next round. The bonded PLMC tokens remain locked until the funding round is completed or canceled.Disclaimer: CryptoSlate has received a grant from the Polkadot Foundation to produce content about the Polkadot ecosystem. While the Foundation supports our coverage, we maintain full editorial independence and control over the content we publish.Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.AJ, a passionate journalist since Yemen’s 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting. Daily digest of top crypto stories and market insights. Never miss out.SubQuery said these RPCs are the first on Substrate-based networks and will be operated by over 30 independent Node Operators.Hydration said the funding will boost the liquidity and efficiency of its single-sided liquidity provisioning platform, Omnipool.Accelerate Polkadot said it wants to provide the de facto answers to Polkadot’s developers questions.The Decentralized Fund inititaive is designed to support Polkadot-focused organizations with funding.CryptoSlate’s latest market report dives deep into the effects corporate Bitcoin purchases have on the market.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
