Polimec, a decentralized and community-oriented funding parachain, has been formally positioned on Polkadot to kick start its initial project appraisal, as per its brief release to CryptoState.
The platform is involved in rating Web3-related projects for prospective fundraising initiatives. The priority is to provide an adequate amount of clarity, as well as connectivity and regulator adherence about the entire exercise.
The introduction of Polimec will be a real game changer regarding decentralized fundraising, heightening connectivity options, and community engagement. All concerned have mentioned that it will completely change the way Web3 projects get funded.
Polimec’s initial project rating involves Apillon, which is a Web3 framework base meant for builders.
Apillon strengthens builders’ functioning in the Polkadot ecosystem and provides decentralized solutions such as file storage and hosting. To take part in the rating exercise, users are required to own a Deloitte-boosted KYC identification. This will help open the doors for the data room. Here, users are offered the option of studying funding-related issues, following which they will be able to link their Polimec tokens (PLMC) with the projects on which they are carrying out their appraisal.
In the meantime, the entire procedure related to the appraisal takes place over twenty-eight days. Users are offered the opportunity to do total justice to the appraisal exercise by closely studying the project’s white paper, along with the team members and the tokenomics.
Through linking their PLMC tokens, users prove their inclination towards the project. If a project completes 10% of its funding amount, it propels with immediate effect to the following round. The linked PLM tokens are kept under lock and key until the funding round either ends or is stopped.
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