Pollen DeFi announced that well over a third (35.3%) of total $LPOOL supply (value $8.4 million) was staked to split the $750,000 Pollen ($PLN) allocation, the most over-subscribed raise completed on the platform.
Decentralized asset management platform Pollen DeFi became the top Launchpool project last week with over 3.3 million $LPOOL staked by budding investors. That’s more than one-third of the total supply of the platform’s utility token ($LPOOL). Of previously launched projects, $REALM held the Launchpool record at 2.2 million $LPOOL staked, and has gone on to achieve a 25x price from the presale price since launching.
The Pollen DeFi raise began November 8, and a total of 1.5 million Pollen ($PLN) governance tokens were offered at $0.50 per token. The project is yet to announce further sales of its token.
“The Pollen DeFi protocol is for all those who want to participate in a community-managed asset portfolio. The Launchpool community is composed of portfolio builders and innovators. We hoped that the two communities would find common ground. The record-breaking Pollen ($PLN) pre-sale on Launchpool has proven that to be the case. Now we are seeing both communities grow as the broader crypto community wakes up to the potential of next-generation DeFi 2.0 protocols like Pollen,” explained Pollen DeFi Project Lead and Co-Founder, Philip Verrien, in a statement.
Pollen DeFi’s governance model and voting power delegation is designed to recalibrate and optimize asset pools, constantly rebalancing based on market opportunities and conditions. If there are hidden market opportunities, the portfolio will seek them out and take advantage of them. The DAO acts on the token holder’s behalf with aligned interests and goals.
Launchpool, on the other hand, leverages communities, knowledge, expertise, contacts, and capital to provide crypto projects with the best possible start to life, maximizing their chances for success in this fast-moving and dynamic space.
Pollen DeFi most oversubscribed Launchpool presale, 11-1 ratio breaks records
Pollen DeFi selected Launchpool as their launch partner for the pre-sale to make sure that its community ‘hive-mind’ and the investors in the Launchpool community could be the first token holders to seed the ecosystem, because of their shared ‘portfolio-first’ mindset.
The choice appears to have been a success as the launch will create upwards of 2,500 $PLN holding wallets. Over 3.3 million $LPOOL tokens were staked, with the value of $8.4 million, splitting the $750,000 allocation of Pollen ($PLN) tokens on offer. That’s an oversubscription ratio of 11-to-1, breaking Launchpool records.
The platform has previously achieved successful launches with metaverse Project Realm.art achieving 20x returns and DeFi protocol Unizen achieving 233x returns against Launchpool price.
The previous record for an un-launched project was 2.75 million $LPOOL staked (29% of $LPOOL token supply to Pollen DeFi’s 35%), set by a global music NFT project backed by a world-renowned producer (LISTEN). Alphabit Fund is the VC behind Launchpool, and also an early-stage investor in Pollen DeFi and Listen.
Launchpool Co-Founder and CEO Richard Simpson commented:
“From the first time we looked over the Pollen DeFi project we knew they had a strong concept and a strong team. Their platform introduces community managed asset portfolios to the marketplace at the same time as we see a resurgence in DeFi, so Pollen DeFi have the right product at the right time. We knew the Launchpool community would support a quality project and we aren’t surprised to see them top the leaderboard, being the most in-demand launch on Launchpool so far.”
Pollen DeFi community breaking out
Pollen DeFi had been keeping a low profile, focusing on the development of its product. Since the Launchpool raises the community has grown rapidly, with its Twitter following up 40% and Telegram members up 20% in a week. After the presale, 3,000 new wallets will hold $PLN tokens, adding depth and strength to the Pollen DeFi ecosystem.
Those that staked their $LPOOL tokens into Pollen DeFi allocation mining pools on launchpool.xyz can now pay for their allocation before the cut-off point on Wednesday 17th. For those wishing to participate in any future raises, the project advises following their Twitter or Telegram community.
Get an edge on the cryptoasset market
Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.
Like what you see? Subscribe for updates.