Polimec, a decentralized community-driven funding parachain, has launched on Polkadot and is preparing for its first project evaluation, according to a May 20 statement to CryptoSlate.

The platform aims to bring transparency, accessibility, and regulatory compliance to Web3 project fundraising. Polimec’s debut signifies a new era in decentralized fundraising, emphasizing community involvement and regulatory adherence. Stakeholders believe the platform will revolutionize Web3 project funding.

The first evaluation will feature Apillon, a Web3 infrastructure platform for developers within the Polkadot ecosystem, offering services like decentralized file storage and hosting. To join the evaluation, users need a Deloitte-powered KYC Credential, granting access to the Data Room for reviewing funding details before bonding their Polimec tokens (PLMC) to evaluated projects.

The evaluation process spans 28 days, allowing users to conduct due diligence by examining the project’s white paper, team, and tokenomics. Bonding PLMC tokens indicates interest in the project; if it reaches 10% of its funding target, it progresses to the next round. The bonded tokens stay locked until the funding round concludes or is canceled.