Polimec, a parachain on Polkadot, aims to transform fundraising for Web3 projects with a unique approach distinguishing it from competitors.

According to its website, Polimec facilitates decentralized, transparent, and compliant fundraising, aligning stakeholder incentives throughout and beyond the fundraising process.

Co-founder Kasper Mai Jørgensen elaborated that Polimec enables on-chain fundraising directly, eliminating intermediaries while ensuring transparency, decentralization, and regulatory compliance.

Originally conceived in 2020 by the team behind KILT Protocol, Polimec evolved into an independent project with its own non-profit organization in June 2022.

Polimec's native token, PLMC, grants holders access to platform activities such as evaluation, participation, staking, and governance.

Operational Process

Polimec streamlines fundraising into five phases, starting with credential verification via know-your-customer (KYC) procedures.

Projects seeking funding then apply and provide details about their initiatives and funding rounds. Community members evaluate and vote on these applications, ensuring a democratic selection process.

Only projects with sufficient community support proceed to the funding round phase, with members participating based on their credential status.

The process concludes with the Issuance and Migration phase, where contribution tokens are automatically allocated and distributed to participants. These tokens are converted into mainnet tokens post-project launch.

Apillon and Mandala Chain are among the initial Polkadot-based projects intending to utilize Polimec's technology for fundraising.

Future Plans

Polimec has several plans for the year, including establishing a stablecoin bridge between Ethereum Virtual Machine (EVM)-compatible chains and the network and deploying additional applications to generate yield for users.

Furthermore, the protocol aims to expand through planned WebAssembly (WASM) integration by the fourth quarter of the year.