Polygen, the “truly decentralized” launchpad without gatekeepers, has secured $2.3 million via an investment round.
As mentioned in a release shared with CI, Polygen differentiates itself from the other launchpads active in the industry by allowing “anyone launch a project.” A permissionless launchpad to fund innovation and without fees “can change this industry for the better,” according to the announcement.
Polygen offers solutions that will support innovation on a specific blockchain, however, they also “look and operate the same,” the update noted. Fueling innovation in this industry “requires the removal of all intermediaries and gatekeepers,” the Polygen team explained.
Additionally, there is a need for greater transparency, automated processes, and post-launch support as well.
The approach by Polygen has attracted investor interest with the project acquiring $2.3 million in capital from various investors. The lead investor is SL2 Capital followed by 18 Ventures, Twin Apex Capital, AU21, Polygon Syndicate, Axiom, ZBS Capital, and Pluto. Other participants include Iconomy, Insignius Capital, NetZero Capital, Maven Capital , Woodstock Capital Fund LLP, Sky Man Ventures, Lumos labs, Moonboots Capital, Storna Finance, Extra Watts, LD Ventures, Keys Investment, LucidBlue Ventures, Biconomy, GSR, and Amplio Capital.
An Insignius Capital representative stated:
“Insignius Capital is excited to embark upon this journey with Polygen. The current lack of transparency and decentralization shouldn’t be the norm for launchpads. As such, we are committed to supporting Polygen in bringing decentralization and efficiency back to the launchpad sphere. We look forward to a positive collaboration with the highly regarded Polygen team.”
In the crypto and blockchain sector, projects should not have to bow to the demands and interests of those who operate the launchpad. Instead, it should be the other way round: the project and investors’ interests “must be the number one priority,” the Polygen team states.
They also acknowledge this facet and claim to “remove the permissioned gatekeeper approach from the equation.” As a result, its technology can be “the Uniswap of launchpads,” offering “democratized access to launchpad services.”
Via a decentralized approach, Polygen can help any project. For instance, developers are able to list their projects and use event-based raise tokens “rather than permanent tokens.” That is a unique approach “capable of suiting any project round model: seed, private, or public funding.” Additionally, one can connect the different rounds to “ensure people who believe in a project get the associated tokens.”
Polygen’s main selling point is how “every step of the launchpad process occurs on-chain for optimal transparency.” The launchpad also supports “any type of raise, with tokens distributed to those who believe in a project.”
As any team or developer is able to list their venture, there will be “broader access to potential investment opportunities, innovation, and competition,” the announcement noted while adding that it “addresses the need for innovation and experimentation.”
Polygen CEO Mike Hepburn stated:
“I am extremely excited to be part of the Polygen team. Our industry-first, decentralized launchpad with no gatekeepers, is generating a lot of excitement in the crypto ecosystem. … I believe Polygen represents a step-change in launchpad fundraising with Projects able to raise funds with complete freedom to innovate and experiment.”