Polkastarter announced last Tuesday, December 14, through its Twitter account, its integration with Celo, which, according to the company, will allow even more users to participate in Polkastarter IDO without paying huge network fees. ImpactMarket will be the first Celo IDO on Polkastarter.
“Surprise, surprise: you can now participate in Polkastarter IDO using the Celo network. Our integration with Celo for IDO and fixed swaps is active. This integration will allow even more users to participate in Polkastarter IDO without paying huge network fees”, he said through an article posted on his website.
The company explained that Celo is a blockchain protocol with the mission of building a financial system for everyone. It is a platform for mobile devices that makes crypto payments, financial dApps and smart contracts accessible to everyone.
What does integration mean?
In his view, Celo is the last network we add to the Polkastarter IDOs after Binance Smart Chain and Polygon. For projects, it means that more users will have access to your IDO. As for users, they could participate in IDO without paying huge gas fees, which is a problem, especially on Ethereum.
In addition, he detailed that, for IDO participants, fixed swaps limit token allocations, typically, to a few hundred dollars. If gas costs are high on the day of the IDO, a participant may find themselves spending a considerable amount on gas, especially compared to their fixed trade-in maximum.
The company said that the IDOs on the Celo network allow lower rates and more user access. This means that projects will spend less on token distribution and IDO participants will spend less to claim their tokens.
“Overall, Celo’s integration into Polkastarter’s IDOs will further enhance liquidity and enrich community adoption of emerging protocols. By making the IDO process more affordable for participants, Celo x Polkastarter will accelerate our broader and mutual mission to provide more financial opportunities for all”, he said.