TL;DR:
- DAFI Protocol teamed up with Polygen to introduce dPGEN rewards so token holders can help improve the overall health of the network while gaining access to funding new projects, capital raises, seed pools, and more.
- New protocols launched on the decentralized launchpad can now plug and play DAFI’s Staking 2.0 economic engine.
- Founders and developers alike have a golden opportunity to synchronize the relationship between token reward distribution methods and the self-healing capabilities of the network relying on DAFI’s technology.
DAFI Protocol announced a strategic partnership with Polygen. The goal is to enable new decentralized applications launching on the permissionless launchpad to integrate DAFI’s Staking 2.0 protocol from the get-go.
Polygen is also adopting synthetic dTokens rewards to serve as an example for emerging projects of what can be accomplished with an elastic token distribution model.
Reinventing Every Protocol Rewards
Polygen is a decentralized launchpad where entrepreneurs and cryptocurrency enthusiasts can raise capital for their projects without intermediaries and gatekeepers. Unlike DAO Maker, BSCPad, and Polkastarter, every single step is recorded on-chain to provide transparency and create trust in a fully permissionless environment.
The platform can be thought of as the Uniswap of launchpads as Polygen provides unparalleled and democratized access for projects to distribute tokens and raise liquidity.
PGEN, the platform's native token, was created to play a vital role in the world's first truly decentralized launchpad. Users can lock their PGEN tokens to gain access to project raises, seed pools, and more. Through a fixed tier system based on the number of PGEN tokens staked, holders can increase their chances of participating in an IDO while earning dPGEN rewards.
To make this possible, Polygen purchased roughly 550,000 DAFI in the open market to begin the integration of the state-of-the-art rewards distribution module.
The one-time integration fee would not only benefit PGEN holders but also users in DAFI’s Super Staking when these 550,000 DAFI tokens are redistributed.
The introduction of synthetic dPGEN tokens in the Polygen ecosystem changes the dynamics of how network users are incentivized, fostering long-term commitment. The goal is to motivate PGEN holders to improve the overall health and growth of the blockchain while they fund innovation.
Polygen's CEO Mike Hepburn believes in the power that DAFI's Staking 2.0 technology has to convert demand volatility into rewards and make circulating supply reactive to market conditions. For this reason, projects that raise capital on the decentralized launchpad will have the ability to plug and play DAFI's token incentives economic engine.
Snapshot of Polygen’s staking platform powered by DAFI.Protocol founders will have the golden opportunity to synchronize the relationship between token reward distribution methods and the self-healing capabilities of the network to the point where market fit is reached, and demand-side users' needs are met through organic financial incentives.
"We understand that the majority of decentralized networks follow a pre-determined token issuance schedule to entice network growth during the early phases of development. As the world's first truly decentralized launchpad, Polygen needed a mechanism to help new projects eliminate opportunistic actors from accumulating tokens without real care to improve the network. DAFI's technology appears to hold the answers to strengthening new protocols through a more robust and elastic distribution model," said Hepburn.
DAFI Protocol's founder Zain Rana believes that the partnership with Polygen can help reshape the ideas of tomorrow as developers will be able to determine which factors in their network are reflective of staking rewards.
"During the earliest phases of development, founders may wish to bolster the qualities that attribute to the utility of the token. So they may incorporate factors such as price, transaction volume, staking or liquidity provisioning volume into their rewards distribution models as the key indicators. In the latter phases, projects can program the staking rewards parameters by selecting factors more geared toward product utility, such as supply-side or demand-side traction," affirmed Rana.