PolkaFoundry Fundamental Analysis

We, in present times, are currently witnessing the greatest technological changes mankind could ever have thought of. Fast track solutions and alternative options have come to dominate or perhaps overpower the traditional methods of doing business and earning money. In keeping with these trends, different kinds of blockchain-based and crypto-enabled platforms have started springing up. A lot has been already written and discussed on such platforms.

As is common knowledge, Decentralized Finance or DeFi has also seen a meteoric rise in popularity and utility in recent times. Wherever crypto or blockchain is involved, DeFi is sure to follow. Critical components of DeFi are decentralized applications or DApps. As the name indicates, these are special applications that run on a decentralized computer system and have become more popular courtesy of distributed ledger networks such as the Ethereum blockchain and are also referred to as smart contracts. In short, DApps are a great utility and very futuristic in approach.

It is for exactly this purpose that the PolkaFoundry platform has been launched. It is a multi-purpose, one-stop decentralized application factory. It is a form of crypto asset that has been an average performer in recent times. It provides a high degree of interoperability between different blockchain networks and provides a high degree of security to the user regarding their crypto assets.

Let us look at it in a bit more detail.

What is PolkaFoundry:

PolkaFoundry is a one-stop DApp factory that has aims to establish a connection between decentralized finance and Web 3.0 with the larger Polkadot ecosystem. It offers different tools and services for real-world problems. This platform was launched originally in 2018 but still hasn’t been fully made operational. The idea behind it is novel, the final product hasn’t yet been developed which means that in the absence of a live product, extra support and tooling is required. The brains behind PolkaFoundry is Thi Truong, someone who has had a long association with the Blockchain industry for a long time. PolkaFoundry is a sandbox-type project which allows developers to design and operate their Polkadot inter-operable projects such as the namesake PolkaFoundry blockchain, identity services (PolkaID), Document storage services ( DocuGuard), and Oracle services (Decentralized Gate). All these products allow individuals to design and analyze powerful concepts with little to no difficulties and problems.

Furthermore, PolkaFoundry leverages the powerful Polkadot ecosystem which offers unparalleled scalability. It also offers one of a kind UX- enabling features that help to bring a wider audience in contact with DApps. PolkaFoundry is also cross-chain compatible. It means that migrating from other blockchain platforms such as Etherium is made easy. Another feature is built-in features made specifically for DeFi which simplifies the process of managing identities, storing files, and accessing Oracle data.

PolkaFoundry Features:

1. Usability: 

The end-user must always take the initiative and decide if they want to use blockchain and DeFi or not. Currently, not many people use or are familiar with blockchain technology. A large segment of the population knows it by name only. If blockchain is to gain popularity among the masses, steps must be undertaken to ensure it becomes easy to use. PolkaFoundry tackles this issue upfront by the consolidation of DApps in one place or under one roof. These DApps then work together in tandem to shift value between projects and protocols.

2. Security: 

Normally, seed phrases are very secure but the method used for their storage is often susceptible to fraud and deceit. An individual’s assets are at constant peril. PolkaFoundry resolves this serious security issue by splitting the seed phrases into many parts and then storing them separately with independent key management services. This diversifies the risk among separate entities. Since the seed phrases are stored in different places, it is difficult to gain unauthorized access to them. Only the person to whom these assets belong can access them through a proper 2-step verification process through their specific PolkaID. This provides an additional layer of security.

3. Cross-Chain DEX: 

This feature enables the exchange of tokens and para-tokens between different blockchain networks such as Ethereum via bridges.

4. DeFi Derivatives:

PolkaFoundry makes it possible to bring ideas from Etherium-derived DApps to the Polkadot ecosystem. This increased scalability and interoperability gives rise to new innovations in this space.

5. Prediction Markets: 

PolkaFoundry platform provides DApps with real-time data and randomness within a degree of reliability to determine prediction results.

6. Decentralized Insurance: 

DApps can utilize PolkaID for verification of identity and automatic insurance payments.

PKF Tokenomics: 

The PKF token is the standard token used within the PolkaFoundry platform for Governance, Staking, transactions, and payments. The initial supply of tokens stands at 200 Million. However, the total circulating supply amounts to 9.6 million which is about 4.8% of the total. The largest share of this, which amounts to 22%, is allocated for the PolkaFoundry ecosystem while a figure of 20% is reserved for the Foundation. A further 21% is set aside for the Team, early investors, and advisors. 14.75% is reserved for Private sales, 12% for Parachain rewards, 4.8% for Marketing and Listing, 4.7% for seed sales while a final 0.63% is for public sales.

The platform has a clear road map ahead for the future. It plans to launch the Mainnet ecosystem by the third quarter of 2021 along with the launch of some of the DApps developed by the platform’s partners.

Conclusion:

PolkaFoundry is a breakthrough platform that facilitates interoperability and cross-chain movement of crypto. It is led by a strong team having many, many years worth of experience regarding blockchain and cryptocurrency along with involvement in quite a few successful projects. This fact is further reinforced by an impressive repertoire of influential backers. All things considered, PolkaFoundry has taken the required steps to ensure a smooth and flawless launch. As is evident from the Tokenomics pie chart, PolkaFoundry has a very fair unlock schedule and does not risk a major investor sell-off as the seed A investments remain unlocked for three years.

Compounded with the fact that PolkaFoundry does not have a lot of competitors yet and the multitude of services it provides, it has sufficient room to grow. Also, the unlock schedule ensures that it maintains a good growth rate throughout by not performing any major unlocking for three years. With over 36 Million tokens unlocked in the initial 8 months, the PolkaFoundry market capitalization would only need to surpass 5 million to break even on the preliminary launch price.

If PolkaFoundry has a smooth, effortless launch and maintains its promises, it can fill many gaps and voids. It would not only work as the main hub or factory for DApps but also be the glue that binds together different decentralized applications. This platform can make application design approachable and doable for beginners and novices. While at the same time offering leniency to newbies. Such platforms are now becoming the need of the hour as technology has increasingly started to dominate everything around us and has become an integral part of our everyday life. It only makes more sense to shift towards this new trend and make it beneficial for our use.