Token Description & Project Background

Polkastarter is a decentralized cross-cross chain fundraising platform built on the Polkadot network. 

The project seeks to decentralize venture capital by allowing independent projects to raise capital via fixed swap token pool. Through ‘Fixed Swap Pools’ the token’s price is able to remain stable throughout the token sale. This avoids front-running often seen in IDO’s and other token sale options.

As it is Polkadot-based, Polkastarter uses DOT’s native interoperability functions to facilitate cross-chain swaps and IDOs.

POLS, the protocol native utility token, provides access to governance and a means to pay fees within the network. 

Polkastarter launched in 2020. It was founded by Daniel Stockhaus (Co-Founder & CEO) and Tiago Martins (Co-Founder & CTO).

Risks of POLS

Like an investment in other crypto assets, there are some general risks to investing in POLS. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in POLS is subject to the following specific risks:

• Any potential success associated with POLS depends on Polkastarter’s rate of adoption by DeFi participants and projects.
• Any potential success associated with POLS depends on a range of external factors, such as the growth of the DeFi economy.

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with POLS. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The POLS community and founding team are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of POLS have no recourse to the POLS community, Polkastarter founding team, or Uphold if POLS declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing POLS on the Uphold Platform, Uphold performed due diligence on POLS and determined that POLS is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

• The creation, governance, usage, and design of POLS, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 
• The supply, demand, maturity, utility, and liquidity of POLS.
• Any marketing materials put forward by the POLS social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
• Material technical risks associated with POLS, including any code defects, security breaches and other threats concerning POLS and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
• Legal and regulatory risks associated with POLS, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of POLS. 

General

Uphold has prepared this Crypto Asset Statement based on publicly available information. Although Uphold has taken steps to obtain information from apparently reliable sources, information contained in this Crypto Asset Statement may be inaccurate, incomplete or out-of-date. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

Uphold users should read the Risks Specific To Holding Digital Assets statement for additional discussion of general risks associated with crypto assets made available through the Uphold platform.  

Canadian residents, please note that Uphold has filed an application for registration in certain Canadian jurisdictions but has not yet obtained registration. Until such time as Uphold obtains registration, Uphold has agreed to abide by the terms of an undertaking available at the following link. Please also review the Uphold Canada – Crypto Risk Statement for additional discussion of general risks associated with the crypto assets made available through Uphold Platform. Please be aware that statutory rights of action for damages or rescission in section 130.1 of the Securities Act (Ontario) and, if applicable, similar statutory rights under securities legislation in the other provinces and territories of Canada do not apply in respect of this Crypto Asset Statement or other disclosures on the Uphold website and Risks Specific To Holding Digital Assets statement. 

Last updated on June 16, 2023.