Advertisement

Business

Updated on: Monday, November 08, 2021, 05:35 PM IST

Pollen DeFi announces ‘Beta’ release of platform

Pollen DeFi's ‘Beta’ release will enable users to contribute to the continual balancing and rebalancing of a singular central asset pool that will back up a tradable asset token. |

Pollen DeFi's ‘Beta’ release will enable users to contribute to the continual balancing and rebalancing of a singular central asset pool that will back up a tradable asset token. |

Advertisement

Decentralized asset management protocol Pollen DeFi, that enables community members to create their own indexes or portfolios based on popular crypto coins or tokens, today announced that its ‘Beta’ release will enable users to contribute to the continual balancing and rebalancing of a singular central asset pool that will back up a tradable asset token.

In a statement issued here today, Pollen DeFi stated that the protocol will be open to whitelisted users who can begin building community credibility (in the form of a ‘reputation’ score), compete for a position on the community leaderboard, and, in turn, will have a chance to earn mainnet Pollen ($PLN) governance tokens.

It added that Pollen DeFi aims to push ‘DeFi’ into the ‘DeFi 2.0’ era by moving beyond institutional imitation and removing centralized “middlemen” and that the platform instead empowers user-curated cryptocurrency asset pools that are constantly refined via a merit-based balancing of users’ portfolio suggestions.

Community members are rewarded for making good decisions and subsequently gain more influence over the dynamically-rebalancing portfolio. Alternatively, users who would prefer to turn to more qualified traders (based on proven reputation, scored by the platform) can delegate their voting power accordingly. These ‘hivemind approved’ asset portfolios then back up ‘asset pool tokens’ listed as easily accessible financial instruments capable of outperforming market fluctuations, Pollen stated.

“Our focus has been on rebuilding asset management from the ground up; reducing risk and volatility, while also maximizing yield and creating dynamic opportunity for anyone, regardless of their experience level; [Pollen DeFi] aims to be the embodiment of what we believe will be the next step in DeFi, and reflect the core principles of truly decentralized finance,” Pollen DeFi Project Lead and Co-Founder, Philip Verrien said.

He added that beginning in December, whitelisted users will be able to actively contribute suggestions to Pollen DeFi’s first community-managed portfolio and associated asset pool token, Portfolio Asset Index ($PAI); reputation points earned during this part-testnet, part-mainnet ‘Community Release Incentivised Beta’ will be ported over as part of full mainnet launch in Q1 2022.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Published on: Monday, November 08, 2021, 05:35 PM IST
Advertisement