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Team Polkalokr

Jan 13

4 min read

Elevating User Experience with Lokr and Swapr

Examining how Polkalokr’s core products and services make DeFi accessible to all.

DeFi is developing at an exponential rate. Commercial activity involving digital assets has long since shifted from the realm of possibility to the real world, and it is here to stay. This shift is evinced by the evolution of investment strategies in which tokens and other digital assets have become increasingly mainstream. However, it can be easy to get swept up in a whirlwind of jargon and technicalities and potentially forgo the opportunity to participate in this exciting new world of prospects.

Here at Polkalokr, we aim to keep you safely tethered and secure by adapting our products to be as user-friendly as possible and simplifying the inscrutable for the average user. Our dApps are designed to be accessible (users require no prior knowledge of coding to use them) and are always accompanied by comprehensible user guides and many other resources. We constantly review our infrastructure and run internal checks using unit testing and automated security audits against our code during development. We also work with external penetration testers to ensure all our dApps are invulnerable to attack and fully secure. We’re proud to say we go to great lengths to release an exceptional user experience that promotes our core values: trust, simplicity and scalability.

Our flagship product, Lokr, is a multichain token locking and automated distribution protocol that has been designed to serve businesses and individual users alike. Through the Lokr dashboard, users can craft highly customisable smart contracts that enable them to lock and distribute digital assets as needed. Users can also view all token and liquidity locks to quickly outline how a project’s token supply grows and is distributed. Not only can users track their current portfolio, but track ‘unrealised’ portfolio value by selecting the locks they’re vested in.

We have taken token distribution to a new level by introducing event-based distribution, allowing projects to release tokens when reaching milestones, e.g. price or development achievements. As release schedules are fully customisable, users can opt for event-based distribution through integration with oracle feeds, enabling multiple pay-outs that reflect real-world events. For project team members, crafting automated tokenomic vesting schedules to investors becomes one less thing to worry about — users can even spread the distribution of early investor token vesting and prevent dumping. Similarly, opting for team token locking means no more manual transfers either.

Claiming tokens has never been easier. Using the claim portal, users can quickly select the locks they want to claim their tokens from and receive them in their wallets within a few clicks. But that’s not all users can do with Lokr: take NFTs off the market by placing them in a time-release lock, lock liquidity, set up crypto-based standing orders, send pocket money to their children or even send tokens that unlock on a loved one’s birthday — the possibilities are endless.

Swapr is another core product of Polkalokr. Swapr is a cross-chain escrow platform with optional multi-sig and privacy options that allows users to create a listing for any tokenised digital asset. Users can define the swap parameters of their assets (price, acceptable currency, instant or conditional execution) and offer them through the marketplace. Swapr’s search engine will enable users to search for, filter through, and sort listings quickly.

Now here’s the best part: upon release of both products, users will be able to trade locked tokens through the Swapr Marketplace! We aim to create a new market facilitating the trade of non-circulating tokens via Lokr and Swapr, allowing users to swap what they’ve locked. This is very exciting as the non-circulating supply value is enormous. Eventually, Swapr will support cross-chain swaps and multi-swap too, unlocking infinite possibilities for our users.

At every step of the way, one of our primary concerns is bringing trust and simplicity to the average user. Finding details on a project’s tokenomics, for example, can often be quite a challenge. Many projects bury this information somewhere in a white paper; some altogether remove it from their site post-launch. Our dashboard, combined with our distribution lock-ups, ensure we capture tokenomics and vesting schedules on the blockchain, making it clear and transparent for everyone to see. In the event a project’s tokenomics change, for instance, the Lokr dashboard will notify users. This feature brings a level of transparency and accountability that is much needed to the space.

DeFi may be continuously evolving, but so are we. In this landscape of change, we’re excited to extend a hand and present our innovative solutions to as many users as possible to expand the crypto space and change the future of digital exchange forever.

About Polkalokr

Polkalokr is the first all-in-one, multi-chain token locking and escrow platform with built-in privacy functionality. Its products — Lokr, Swapr, Bridgr and Mintr — help build trust within the DeFi space by removing the human element and focusing on governance through code, with a seamless, omnichannel digital experience platform.

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