DeFi Index Platform Pollen Set to Launch ‘Hive Mind’ on Avalanche

UTC by Andy Watson · 3 min read
DeFi Index Platform Pollen Set to Launch ‘Hive Mind’ on Avalanche
Photo: Coinspeaker

Pollen is a decentralized index platform that will launch on Avalanche’s lightning-fast, low-fee blockchain early next year.

Democratization has long been a watchword of the crypto industry. It all started with Bitcoin, a project that sought to democratize money by allowing anyone, anywhere, to store and transfer value using a peer-to-peer (P2P) network.

Latterly, the DeFi sector – mostly built on Ethereum before spreading across a range of layer-1 networks – took a different tack, widening access to a range of financial services products, each of them operating autonomously rather than through an intermediary.

Leveraging Collective Crypto Intelligence

Over the past two years, DeFi has attracted hundreds of billions of dollars as decentralized applications (dApps) have offered users a way to save, lend and speculate. Although virtually every project touts its accessibility credentials, many are actually leveraged almost exclusively by highly proficient professional traders, with an ‘every man for himself’ ethos prevailing. A standard that a new DeFi protocol is seeking to combat.

Pollen is a decentralized index platform that will launch on Avalanche’s lightning-fast, low-fee blockchain early next year. Envisaged as a people-powered project that leverages the collective intelligence of the crowd to curate lucrative crypto asset portfolios and associated indexes, Pollen is gradually moving towards a DAO model that embodies the true spirit of DeFi.

The term Pollen uses to describe its model is ‘hive-mind’: like the domain of a bee colony, the ecosystem it is developing relies on collaboration between all stakeholders, in this case traders, delegators and communities – all of whom have their say on how tokens are allocated within asset pools. Because barriers to entry are low, both casual crypto users and seasoned traders can participate.

The more profitable Pollen traders’ proposals, the stronger their community standing becomes; delegators, meanwhile, devolve their voting power to traders based on their track records and earn passive income based on how well their decisions pan out.

Pollen is currently gearing up for an IDO of its native $PLN token on Thursday, December 16, having recently decided to join Avalanche’s burgeoning ecosystem. The token sale will be conducted on RocoStarter, a brand-new community-backed launchpad that seeks to empower promising projects and guarantee fair participation for early-stage investors.

$PLN governance tokens are essential to Pollen’s operation, ensuring a continual flow of proposals that optimize portfolios as the market changes. Not only is the token used in a reward system to incentivize profitable proposals, with $PLN burned when traders make bad decisions, but community members can actually stake tokens to obtain access to a portfolio. Once their tokens are locked, users can choose to manage the portfolio themselves or nominate a top-performing trader from Pollen’s leaderboard to run with the baton.

The forthcoming IDO follows a recent token sale on pre-IDO launchpad Launchpool, with funds raised on Binance Smart Chain (BSC) but governance tokens issued on Ethereum. Launchpad participants will be issued ARC20 tokens to their wallets on the Avalanche C-Chain.

Clearly, this is a project that likes to keep its options open. In actual fact, the Pollen brain trust plans to deploy on multiple chains in due course.

For the time being though, Avalanche will be Pollen’s proving ground. The smart contracts platform has transformed into a DeFi powerhouse since launching last year, and there is now over $11.6 billion worth of value locked in its dApps according to Defi Llama.

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Andy Watson
Author Andy Watson

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