Polkally Successfully Raises $700k USD, Starts Public Dual IDO
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P2P auction platform for NFTs Polkally has successfully completed its private sale that raised $700k USD. The sale was led by investors such as ExNetwork Capital, Titans Ventures, Bigcoin Capital, and Blocksync Ventures, plus a number of others. Now, they’re moving to a dual public initial DEX offering (IDO), on both Poolz and Zeroswap (ZeeDO), looking to raise USD 200k on each.
All You Need to Know About the Public Sale
For crypto and NFT enthusiasts who were waiting with bated breath for news of the Polkally public sale, you can breathe easy again: it starts on May 19th on both platforms. Regardless of which one you’ll choose, you’ll have to stake their tokens (POOLZ for Poolz, ZEE for ZeeDO).
From then on, the rules vary a little: if you’re looking to participate on ZeeDO, after staking, you will have to apply for the IDO and claim your Proof of Participation (POP) ticket. From then on, it’s all luck: the Proof of Winning (PoW) tickets are drawn and the lucky winners will be able to buy the token with assured allocation. No hassle—including no first come, first serve, no gas wars, etc. There will be a total of 1,250 winners (half for ZEE/ETH staking, the other half for ZEE/BSC). One KALLY token will cost you USD 0.05, whereas one ticket will hold USD 160 worth of KALLY.
Of course, the number of tickets also depends on how much ZEE you’re staking. The minimum is 3,000 ZEE for one ticket. If you stake 6,000 ZEE, you’ll get two tickets, and the more you stake, the more tickets you can get.
When it comes to Poolz, once you’ve gotten staking out of the way, you’ll have to complete a few tasks (like follow both Poolz and Polkally on Twitter, join the latter’s Telegram group, and fill out a whitelist form), and wait for the whitelist results. Those will be posted within 24 hours of the IDOs launch time. Keep in mind that Poolz has not yet published all the details, so check back often to learn more about how you can participate.
Even if you aren’t chosen to participate in the public IDO, do not despair: the KALLY token will later be available on Uniswap and other exchanges that will list it once the sale is over.
I’m Out of the Loop. What’s Polkally?
If you’ve been following the crypto industry in the past few months, you must have noticed that NFTs are the biggest buzzword of this era. Unfortunately, not all NFT marketplaces follow the well-known crypto principles of fairness and decentralization, let alone trying to become more accessible to wider audiences.
Polkally is a company registered in France that is looking to change that by introducing a peer-to-peer auction platform. The platform is set to include a dynamic auction system, compatibility with all EVM compatible networks along with Polkadot, plus user-led governance through their KALLY token. Partnerships with private galleries will ensure that NFTs are exchangeable for physical artworks, as an added incentive for both artists and art connoisseurs. The hype is real: the team has already onboarded more than 70 influencers and more than 10 VCs.
This project is what the NFT space sorely needs, which is recognized by their investors, as the results of their private sale prove. The first version of the product is expected to launch at the end of summer 2021. Until then, all we can say is registering for IDOs keeps the FOMO at bay!