What Is PolkaBridge?
PolkaBridge is a decentralized cross-chain protocol designed to act as the primary bridge between Polkadot and other blockchains. It will also introduce supporting DeFi features, to complement the bridging services. It currently operates on the Ethereum blockchain and is planning to migrate to the Polkadot blockchain, in the near future. Other chains support would be added in the future, as per the requirements.
The PBR token is the native asset of the PolkaBridge project. It exists primarily as a ERC-20 token on the Ethereum blockchain for now, but will be introduced on the Polkadot blockchain soon. It is required for:
Transactional activity on the network
As a staking collateral
For staking rewards
For participation in the Launchpad IDOs
Base asset for cross-chain swaps
For lending and prediction purposes
PolkaBridge platform modules include:
PolkaBridge Farming – a unique deflationary farming, which doesn’t rely on inflation to reward stakers, but rather takes parts of every transaction as a deposit for the staking rewards pools. A certain part of every transaction is burned too.
PolkaBridge Launchpad – an Initial Decentralized Offering (IDO) platform, designed to incubate promising projects and to allow PBR holders to participate in early stage investment opportunities.
When Would PolkaBridge Migrate To Polkadot?
PolkaBridge team has planned the migration to Polkadot as a parachain for Q3 2021. Afterwards, the Polkadot network would be supported in the platform’s cross-dex exchange. The project would auction for a parachain slot in the near future.
How Many PBR Tokens Are There In Circulation?
The total supply of PBR tokens is 100,000,000 (100M tokens). Around 20,000,00 (20M) PBR tokens are in circulation. Since the token is deflationary in nature and a tiny part of each transaction is burned, the total supply decreases over time.
- Token Allocation:
- Ecosystem 30%
- Team 20%
- Presale 20%
- Marketing 20%
- Initial Liquidity 10%
- Ecosystem : 1,000,000 PBR every month.
- Marketing : 1,000,000 PBR every month
- Team : 5,000,000 PBR every 6 months
Who Are the Founders of PolkaBridge?
PolkaBridge is run by a largely anonymous team, which comes from different cultures and from multiple areas of expertise. However, most team members have worked in the blockchain and cryptocurrency industry for a long time.
Where Can I Buy PolkaBridge PBR Tokens?
PolkaBridge PBR tokens are traded on a number of centralized and decentralized exchanges. These include Uniswap v2, Bilaxy, Gate.io and Bilaxy. The team plans to list the tokens on other tier 1 exchanges. PBR tokens are traded against both USDT stablecoin and Ether (ETH) pairs.