Decentralized Finance (DeFi) is a viable alternative to the traditional financial system as it eliminates the role of intermediaries and also reduces transaction processing costs significantly. A whopping $77.08 billion of assets has been locked in different DeFi platforms according to data provided by DeFi Pulse.
PolkaFoundry, based in Singapore is one of the newest platforms in the market. It is built on the robust Polkadot decentralized blockchain network. PolkaFoundry can be used by talented blockchain and crypto developers to create cutting-edge DeFi and NFT applications.
Based on Web 3.0, the platform provides benefits like a friendly user interface, seamless interoperability, and full compatibility with the Ethereum Virtual Machine (EVM) ecosystem. The PolkaFoundry platform is supported by more than 2000 blockchain and cryptocurrency developers of the Polkadot Blockchain Development Association (PBDA).
What is the new Red Kite launchpad owned by PolkaFoundry?
A new launchpad named Red Kite will financially support innovative projects that aim to transform the world of DEFi and NFTs. It is fully compatible with the liquidity pools of Binance Smart Chain (BSC) and Ethereum.
Red Kite provides multiple advantages like the efficient implementation of crowdfunding campaigns for several projects, flexible offering of tokens in both presale and post-sale secondary offerings, and a lane-based swapping system without any issues in paying gas fees.
Red Kite came out with the PolkaRare (PRARE) crypto token this month. 500,000 PRARE tokens are available for swapping and each costs 0.1 USDT (Tether). It also announced an Initial Decentralized Exchange Offering (IDO) in the market.
What are the ambitious plans for the PolkaFoundry platform in 2021?
It plans to integrate with the entire Polkadot ecosystem before June 2021 for getting advantages like economic scalability, the creation of blockchain networks quickly by utilizing the Substrate framework, and a high level of security.
Additionally, from July to September 2021, the PolkaFoundry platform will switch over 100% to Substrate, which powers the daily business operations of Polkadot.
It also plans to swap the PolkaFoundry (PKF) ERC-20 token to the native token of PKF. Similarly, the DeFi apps of some associated partners will be launched successfully in the market.
From October to December 2021, it will work on establishing a strong Decentralized Autonomous Organization (DAO). The users get benefits like decision-making powers and voting rights. The DAO is immutable, open-source, and transparent.
Entrepreneurs aiming to build a world-class platform like PolkaFoundry can partner with AppDupe to get the best business results. Our well-versed team of blockchain developers, cryptocurrency creators, DeFi and NFT experts, and smart contract developers can quickly deploy the customized and feature-packed PolkaFoundry platform in the market.
What are the various high-quality services offered by AppDupe for PolkaFoundry platform development?
NFT Marketplace Development – Our knowledgeable developers will create tailor-made NFT marketplaces similar to Enjin and XENO on the PolkaDot blockchain network. This will attract millions of artists, content creators, and musicians. All the data of the content creators and buyers of crypto collectibles are stored securely on the DocGuard service of the PolkaFoundry platform.
DeFi-based Lending platform Development – The borrowers can avail loans for both short-term and long-term from DeFi-powered lending platforms. The interest rates are flexible and there is no cumbersome paperwork when compared to a traditional bank. Loans are disbursed to the borrowers through automatic credit checking and background verification. There are no middlemen involved and the price feeds are updated on a real-time basis.
Cross-chain Decentralized Exchange (DEX) Development – The investors can easily transfer their assets from one blockchain network to another through cross-bridge compatibility. They can exchange their holdings by trading tokens through cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).
Creation of DeFi-based derivatives trading platforms – The investors can trade in valuable derivatives like bonds, forwards, futures, market indexes, options, stocks, and swaps through decentralized trading platforms. The online trading platforms are highly scalable. It can also be integrated with Ethereum-based derivatives trading platforms like BarnBridge, dYdX, Futureswap, Opyn, and Synthetix.
Decentralized Insurance platform Development – The traders are safeguarded from different risks by availing insurance for their assets from decentralized platforms. The claims can be filed automatically by the investors for various emergencies and incidents. We can build world-class DeFi insurance platforms like Cover Protocol, Etherisc, Nexus Mutual, and Opium Insurance.
Prediction Markets – The investors can predict if certain real-world events will happen or not in these online platforms. The results will be known quickly based on real-time decentralized data analysis. We will create Prediction Markets like Augur, Erasure, and Gynosis.
How does a platform like PolkaFoundry offer a highly friendly user interface?
Flexible Payer – The transaction fees are very low on the PolkaFoundry platform. It offers numerous options like Free, Freemium, In-app purchases, and Pay-to-Unlock for the Dapp developers. This ensures maximum revenue for the developers as they can attract a large number of users.
PolkaID – It is maintained off-chain and every Signing Key of the user is encrypted and distributed securely to several key management services. The PolkaID eliminates the role of central authorities and minimizes the risks faced by users in maintaining their own keys.
Signing Key – It is a viable alternative to the Private key. The Signing Key can be used by the investors only for a specific time. It enhances the overall security and leads to more trust among all the stakeholders.
What are some important facts to know about the PolkaFoundry (PKF) token?
The PolkaFoundry (PKF) token was created on the Ethereum-based smart contract. Investors can securely store it in secure digital wallets like MetaMask and hardware wallets like Ledger Nano S and Ledger Nano X. It has a total supply of 200,000,000.
The PKF token is currently trading for $1.01 according to CoinMarketCap.com. It has a market capitalization of $15.42 million and a daily trading volume of $725,249. The PKF crypto token can be purchased by prospective investors from cryptocurrency exchanges like Binance, BitMEX, Coinbase, Gate.io, and Huobi.
What is the total cost of PolkaFoundry platform development?
The budget of creating a perfect platform like PolaFoundry depends on factors like the hourly rate paid to the developers, the kind of features, the level of customization demanded by the entrepreneur, multi-platform compatibility, selection of tools and technologies, third-party API integration, and the time allotted for front-end and back-end development.
DApp developers and entrepreneurs will hugely benefit by using the advanced technology of the PolkaFoundry platform. The ambitious project will break new records in DeFis and NFTs if it achieves its targets mentioned in the roadmap for 2021.
Entrepreneurs can make full use of the modern platform to earn more revenue and grab a greater return on their investment. Aspiring entrepreneurs can team up with AppDupe now to attain the number one position in the market soon.
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