Thursday, October 5, 2023

Polkastarter Prefers Lower Profits


Daniel Stockhaus, a co-founder of Polkastarter, notes that launchpad initiatives that do well at IDO make him worried.

A conversation with Polkastarter co-founder Daniel Stockhaus at Paris Blockchain Week took place. He stated that many launchpad projects are put under a lot of pressure by business development specialists working on behalf of blockchain projects.

Polkastarter is the most popular blockchain crowdfunding site, with some projects returning 270 times their initial investment. Stockhaus, on the other hand, maintains that this is not Polkastarter’s goal. He said he would rather see significantly lower profits during the initial IDO.

Stronger Foundation

It may appear paradoxical, yet it is clear that he is passionate about the tasks with which he involves. This isn’t just a basic launchpad screamin’ about the incredible profits it can provide inexperienced investors. Polkastarter, on the other hand, concentrates on projects with strong foundations. They also educate their audience in order for them to be well-informed before investing in the next crypto unicorn.

Thousands of crypto initiatives vying for people’ attention can be found on crypto Twitter. As Binance’s Helen Hai previously stated, a responsible launchpad does not want its investors to invest in something that will be worthless in a few years. Users will become alienated and lose interest in the crypto sector as a result of this. It would also have lost money by putting their faith in a platform that just interests in one thing: making money.

Return on Investment

Surprisingly, there was no mention of profits or return on investment during the Paris Blockchain Week. The projects they spoke with were all concerned in providing value to their users. It also focuses on providing a secure environment for their staff to work in, as well as blockchain education and the safe adoption of new technology.

Stockhaus, who works on initiatives with the potential to provide life-changing ROIs, is no exception. One of the most significant issues in the blockchain industry, according to him, is the large number of chains competing for the attention of the next great thing.

At the NFL draft, teams try to persuade the best players to join their squad. This is true even if they might be a better fit for another team. Onboarding a new launchpad project, according to Stockhaus, is analogous to how new firms are deciding where to launch their projects.

He added that if an investor wants a specific chain, one VC will bring in another ten VCs. If they genuinely need the money, it’s difficult to say no. So they go with the one who offers the most.

Assisting Developing Projects

Polksstarter’s advantage appears to be that they are nearly platform agnostic. This explains why they have become so popular in the launchpad area. They’re based on the Polkadot environment. However, due to delays in the Polkadot launch, they forced to launch before it was entirely ready.

As a result, many of their early products built on the Ethereum blockchain. Their ecosystem today supports about six distinct chains. Polkadot’s interoperability ensures that this method is long-term and provides hitherto unforeseen benefits to projects within the Polkastarter community.

Polkastarter, according to Stockhaus, assists projects in determining which chain is best for them. It occurs because they are familiar with the project’s decisions and what they have done previously. Lastly, how they feel about those decisions, as well as having strong ties with networks.

Because they are so familiar with the networks, they are generally aware of issues that may hinder new projects. They can’t say it explicitly, but they can point them in the right direction.

Polkastarter also focuses on education by utilizing its information resource to assist initiatives according to their need. They don’t just start working on a project and then move on to the next. They assist them expand by holding monthly or even weekly meetings to see how their connections may benefit the projects.

Preference of 2x to a 200x

Stockhaus prefers it when a project launches with only two or three iterations. As the IDO goes online, the larger community will have a chance to profit as well. He bemoaned the fact that when a thing succeeds too quickly. Furthermore, it can only lead to dissatisfaction among the general public who ape in after a 200x increase. Moreover, the price only settles at a respectable 20–40x.

This disenfranchises many people outside of the Polkastarter group, making them less likely to invest in future IDOs.

In a bull market, anyone might appear to be a genius, according to Stockhaus. He always claimed that they should be judged after two years. Polkastarter has been on the road for 17 months, and they’ve already launched some incredibly successful initiatives including Superfarm and Ethernity. They still have seven months until he makes a decision about their success. However, with the launch of Polkastarter Gaming, they appear to be heading in the right route.

Jacob Yang
Jacob Yang
Jacob Yang works at Cryptoconstellation as a writer. He has been working in finance for the past 6 years. Jacob loves sharing news about the cryptocurrency world and he, himself has invested in a few. Jacob enjoys travelling and finding the best restaurants wherever he goes.

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