By
Chimamanda U. Martha
April 25th, 2024
Poolz aims at driving the decentralized finance vision with a full-stack offering, complemented by its native token POOLZ which is intended for bridging the gap between crypto projects and early investors.
Decentralized cross-chain Initial Decentralized Offering (IDO) platform, Poolz has announced its integration with the Binance Smart Chain (BSC) to help expand DeFi offering in the crypto space. As revealed by the blockchain startup, the partnership with the BSC is a product of its attempt to bring liquidity to new projects aiming to raise funds from investors.
The integration of both ecosystems will help projects on Binance Smart Chain to conduct IDOs on Poolz against the BNB token. Poolz believes this will help usher in a real-world application of blockchain technology with respect to the liquidity auctions of DeFi tokens.
Commenting on the potentials of the Poolz partnership with Binance Smart Chain, Liam Cohen, the Chief Marketing Officer of Poolz noted:
“We are observing an increasing trend of great projects moving towards Binance Chain ecosystem, and we want to contribute to its ecosystem so that all these great projects may garner added value from our contribution.”
Binance Smart Chain is fast becoming a new hub for Decentralized Finance projects drawing from its scalability, speed, and much lower fees compared to what the Ethereum Network is offering. BSC is providing a game-changing platform to encourage new innovations in the space while supplying the ready market, or audience to embrace the projects being rolled out.
Poolz IDO via BSC
The Poolz IDO through the perceived superiority of the Binance Smart Chain will provide a high level of succor to new projects seeking funding in the space.
Projects that wish to partner with Poolz can simply sign up with an easy-to-fill Google form on the official site and the platform would help launch the token sales. In addition to the support for token sales, projects can also leverage the network to fundraise flexibly by allowing them to specify lock-in periods whereby only after the specified period expires can investors receive tokens for their swapped amount.
Poolz’s idea of functionality and utility has endeared them to foster partnerships with other blockchain networks including Ethereum, Tomochain, and Polkadot.
On the latest integration with the Binance Smart Chain, Poolz founder, and CEO, Guy Oren commented;
“We want to push blockchain adoption forward and are humbled to work together with Binance Smart Chain to reach new levels of interconnectivity. As the fabric of the digital economy, we believe that together with Binance X we will be able to empower the ecosystem of economies to grow towards a level of adoption not seen in the industry before.”
Poolz Token and Auction House
Poolz aims at driving the decentralized finance vision with a full-stack offering, complemented by its native token POOLZ which is intended for bridging the gap between crypto projects and early investors. Holders of the POOLZ tokens enjoy incentives, participates in the governance of the ecosystem amongst other use cases.
Poolz also runs an auction house for the sale of Non-fungible Tokens (NFTs). While the auction house is not related to the BSC, investors on the BSC can also have unrestricted access to the platform for the trading of ERC-721 backed collectibles.