VANCOUVER, November 13th, 2020 - Covalent is pleased to announce a technical partnership with Polkastarter, a DEX built for cross-chain token pools and auctions, enabling projects to raise capital on a decentralized, permissionless, and interoperable environment based on Polkadot. The killer feature of Polkastarter is the possibility of making cross-chain swaps, powered by the Polkadot ecosystem, which can provide higher throughput for faster and cheaper transactions while staying connected to the Ethereum Network and other blockchains for liquidity.
Fundamentally, Polkastarter enables decentralized projects to raise and exchange capital cheap and fast in a secure and compliant environment using ERC-20 based assets and more. A number of advantages will come to Polkastarter’s environment through this partnership. For instance, Covalent will act as an additional data source that will validate the actions of wallets to ensure they are not used for illegal purposes, like money laundering, or any other suspicious activities. This is enabled through Covalent’s ability to provide granular, historical per wallet data and will ultimately enhance Polkastarter anti-scam features. Furthermore, projects and startups raising funds will have access to easy Covalent data. This will provide such the ability to draw data to support business cases and to perform analysis including, but not limited to, the ability to trace short term and long term sales prior to and post token launches.
As Polkastater launch their MVP and move toward the final launch, more opportunities will arise with regard to how Covalent will play a role in Polkastarter’s environment.
Quote from Ganesh, Covalent’s CEO
Quote from Daniel Stockhaus, Polkastarter CEO
Polkastarter is a permissionless DEX built for cross-chain token pools and auctions, enabling projects to raise capital on a decentralized and interoperable environment based on Polkadot. With Polkastarter, decentralized projects will be able to raise and exchange capital cheap and fast. Users will be able to participate in a secure and compliant environment and to use assets that go way beyond the current ERC20 standard.
Covalent provides a unified API to bring full transparency and visibility to assets across all blockchain networks. Covalent’s proprietary technology enables a “no-code” solution that solves a vast array of use-cases for wallets, exchanges, custodians and taxation amongst others. The API allows easy access to data that is normalized, unified and granular.