Introducing POL: Polars Governance Token
In previous articles, we discussed the basic concept of polar tokens, the technical structure of the Polars platform and the mechanics of the distribution of commission fees. Now is the time to tell you about Polars Governance Token [POL]. In this article, we will try to disclose information about the methods of obtaining and using POL, about its utility functions and unique features.
How to use
- Participate in votes and governance of the Polars platform
- Stake POL and get access to claim incentives tokens to become Advanced User.
- Increase your Yield Farming APY by staking POL tokens
- Receive Exclusive Historical NFT Event Tokens
- Create your own custom polar tokens
If the user has available Governance tokens, it will allow him to put forward certain fundamental changes within the POLARS platform for voting and take part in these votings.
One of the main advantages of POL tokens is the distribution of 30% of all commissions of the POLARS platform proportionally between the Advanced Users. 30% of all platform commissions are sent to a special pool in which they are accumulated. Advanced Users at any time can stake a proportional part of the commissions from this pool in accordance with his share of ownership of Incentives tokens. To do this, the tokens must be staked on this smart contract. Staking POL tokens on the incentives smart contract allows these tokens to be used for voting, and also increases the APY of farming.
In the future, POL will be used to obtain unique historical NFT cards as part of those events that will be taken into account by the Polars platform. Additionally, POLs will be required to create their own custom polar tokens by users.
POL will circulate in all networks on which the Polars platform will be deployed (Ethereum, Binance Smart Chain, etc.), but it is worth noting that Ethereum (ERC-20) will remain the main native network for POL.
How to receive
- Add polar tokens as liquidity in Secondary, Trading and Third-party accredited pools on the Polars Platform
- Trade and make good trading volume on the Polars Platform
- Invite referrals and let them create a good trading volume on the Polars Platform
- Participate in any form of voting on the Polars Platform
- Participate in testing and marketing activities
- Participate in POL liquidity Farming programs
- You can buy POL
POL is used to manage the Polars platform. Obviously, such decisions within the framework of decentralized applications should be made by the most active and involved users of the POLARS platform. These are the users who invest in the platform, block their funds, make a significant trading volume .. All these activities should be rewarded with the distribution of internal Governance tokens.
The main holders of POL tokens should be:
- Liquidity providers of the POLARS platform
- POLARS protocol and platform development team
- Investors of the POLARS platform
- Marketing partners contributing to the development of the POLARS platform
Additional holders can be:
- Active users of the POLARS platform who participate in user votings
- Users who buy POL on the free market
- Users who are actively developing a referral program
- Users who trade a lot on the platform
[100%] Total emission: 2,000,000,000 POL
[7,5%] Private Sale Investors: 150,000,000 POL
[2%] Token Sale & Farming Program: 50,000,000 POL
[70.5%] Yield Farming: 1,400,000,000 POL
Tokens for yield farming:
- Trade Activity 210,000,000 POL
- Referral 210,000,000 POL
- Votes 140,000,000 POL
- Farming 700,000,000 POL
- Testing and Marketing 140,000,000 POL
[20%] Team: 400,000,000 POL
Let’s take a look at the distribution of tokens intended for Farming:
100% (1,400,000,000 POL) of what is intended to be distributed among users as a reward based on activities, will be distributed according to certain algorithms and rules, at a certain rate:
- 15% (210,000,000 POL) is intended to be distributed to users as a reward for their trading volume on the POLARS platform. For every $ 10,000 of trading volume, the user receives 5 POL.
- 15% (210,000,000 POL) is intended to be distributed as referral rewards. These tokens will be evenly distributed among the agents who invited referrals and encouraged them to trade on the POLARS platform. The distribution formula depends on the referral’s trading volume. The user will receive 5 POL for every $100,000 of the trading volume of his referrals.
- 10% (140,000,000 POL) is intended as a reward for participating in any type of voting. For participation in each vote, 0.1% of all remaining tokens intended for voting rewards are distributed among the voters. For example, during the first vote, 14,000 tokens will be distributed among the voters (0.01% of 140,000,000 POL), in the second vote, 13,998.6 tokens (0.01% of 139,986,000 POL) will be distributed, etc.
- 50% (700,000,000 POL) is intended to reward market makers for providing liquidity to POLARS pools. The distribution rate of POL tokens for liquidity providers is from 0.3% to 3.6% per day. The amount is calculated in proportion to the formula for calculating the farming of BLACK and WHITE tokens.
- 10% (140,000,000 POL) is intended to reward platform testers, as well as reward for marketing activities.
POL Release Information
- Team tokens: locked for 9month, then 25% unlocked per quarter
- Private Sale tokens: locked for 6 month, then 25% unlocked per quarter
- Marketing activities tokens: locked for 6 month, then 25% unlocked per quarter
- Public Sale tokens: fully unlocked and 1–6 month for testers.
- Farming tokens: Will be released in accordance with user activity on the Polars platform
An important addition to the POL token lockup period.
All locked POL tokens will be on the POL token staking smart contract. Only the owner of the tokens will be able to claim their tokens after they are unlocked. While the tokens are in a locked state on the staking smart contract, the user can:
- Get access to advanced user functionality.
- Take part in votes on the Polars platform
As you can see, we have taken care of the Private Sale members, the development team and ambassadors. Although their tokens are locked and they cannot dispose of them until the end of the lockup period, the main utilities of the token function are preserved and available to users.
10% — development and audit
20% — marketing and promotion
70% — liquidity to the Polars platform and POL.
In general, most of the tokens (70%) are intended for distribution among users for their activity on the Polars platform. This will allow, over time, to transfer the management of the platform to the most competent and interested users who actively use the platform and participate in its development.
The new DeFi platform for creating secure polar tokens, the price of which depends on the results of specific external events. Within the POLARS platform, users can buy, sell and exchange polar tokens, as well as participate in the distribution of the platform’s commission income.