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Polimec, Decentralized Financing Platform in Polkadot Ecosystem, Announces Cease of Operations
Summary: Polimec, a decentralized financing platform in the Polkadot ecosystem, has announced that after multiple efforts, the project will be forced to cease all commercial operations. Due to changes in the market environment, active user participation was far below expectations, especially with the demand for investments in Substrate-based tokens nearly disappearing, making the project unsustainable. Despite ...
Polimec, a decentralized financing platform in the Polkadot ecosystem, has announced that after multiple efforts, the project will be forced to cease all commercial operations. Due to changes in the market environment, active user participation was far below expectations, especially with the demand for investments in Substrate-based tokens nearly disappearing, making the project unsustainable. Despite continuous efforts and maintaining high compliance standards, the team has run out of resources, making operation maintenance unsustainable. Polimec will support users in withdrawing assets to Polkadot or Asset Hub as planned, ensuring that investors participating in financing rounds receive the mainnet tokens from their rounds. Established in 2022, Polimec aimed to create a decentralized, community-driven, and regulatory-compliant financing protocol. By 2024, the platform had successfully launched a real-time parallel chain and supported financing for three projects.
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Link: Polimec, Decentralized Financing Platform in Polkadot Ecosystem, Announces Cease of Operations [Copy]
