A Brief Overview Of Polkamon

Polkamon is exquisitely animated digital collectibles, with each having varying scarcity. These Polkamon’s are backed by a unique NFT that is indistinguishable from any other NFT and can be unpacked using $PMON tokens, the platform’s native ERC20 tokens. Each collectible on Polkamon is inimitable, authentic, and differs in rarity. The collectibles can be integrated into several blockchain-based products, modern games, and art.

Each Polkamon has a different shape and characteristic. Some of these characteristics are color, glitter, horn, and ultra-rare. The Polkamon are in different colors and hues, which represent a shade of colors of the rainbow. The rarest Polkamon has glitter on them, and although each has a horn, the shape of the horn is different. The ultra-rare Polkamon is described as the diamonds of the Polkamon universe as they are extremely difficult to find (due to limited mintage).

A Brief Overview Of Polkamon

Polkamon Collaborative Partnership

Partnerships in any market are meant to propel the involved parties forward by opening them up to more customers and use cases. Polkamon had various partnerships in the recent past that are meant to benefit the platform in its cross-chain journey.

Polkamon partnered with Polygon to benefit from extremely low transaction fees and the Chainlink integration. The partnership serves to bring Polkamon closer to its goal of making the platform easily accessible and cheaper for users. Through the partnership, Polkamon will use Polygon to fetch random numbers from Chainlink’s VRF while also leveraging this partnership to launch a special limited-edition Polygon-themed Unifairy.

A Brief Overview Of Polkamon
Working Of Polkamon
Working Of Polkamon

The start of April was marked by yet another partnership with Elrond, the internet-scale blockchain designed to bring a 1000-fold cumulative improvement in throughput and execution speed. The partnership is meant to bring the Manifold Universe of Polkamon to Elrond. Through the partnership, Polkamon took a step towards making Polkamon more accessible to its users. According to the announcement, Polkamon will be fully integrated into the Elrond blockchain by Q3 2021, allowing collectors to take advantage of Elrond’s superior UX when opening Boosters and minting NFTs (while also benefiting from lower gas fees). This partnership also saw the launch of a limited edition Elrond Uniragon.

Polkamon & Elrond Partnership
Polkamon & Elrond Partnership

Polkamon recently announced its recent partnership with the Tixl organization, which uses the TXL token to build a single high-performance network for a new era of DeFi, payment, and banking. Polkamon will use Tixl’s decentralized cross-chain bridge to allow ERC20-BEP20 transactions, so the bridge will allow users to swap $PMON ERC20 to $PMON BEP20 at a small transaction fee. Polkamon created a special edition Tixl Unibranch to commemorate this partnership.

Polkamon also announced that its Manifold Universe would be introduced to BSC in Q2 of 2021. This will allow users to buy $PMON on BSC using Pancakeswap. This new development will be made possible by the Tixl partnership, as its bridge will make Polkamon available in BSC DEXs. Therefore, users can use $PMON bought on BSC to open Booster packs on the Ethereum network.

Polkamon Staking

The Polkamon Team is committed to timely upgrades to its platform as well as fulfilling the roadmap promises. As such, it has launched its staking platform that has provided another compelling upgrade to $PMON metrics, with the ability to earn additional tokens while staking. The Team has recently launched an iOS app to allow users to access and enjoy the manifold universe of polkamon via their mobile devices.

The introduction of the staking pool comes with a daily minimum for the rewards, whereby for the first 90 days, 200$PMON will be removed from the fee wallet and added as rewards to stakers. The platform will reward those who stake for longer periods by providing a boost to their participation in their staking pool.

To participate in staking, users are required to lock up their tokens. However, the rewards from staking are not locked, and users can access them at any time. Therefore, they can be withdrawn and used to restake or open booster packs.

Polkamon has also made it possible for users who stake at least 100 $PMON to be eligible to participate in planned weekly and monthly special edition Polkamon NTF airdrops. Through this mechanism, users have the opportunity to own rare and valuable Polkamon. 

The staking mechanism is used to reward active users and attract more to the platform and staking pool. Users can stake multiple times from their account and receive multiple staking NFTs in return.

Looking Forward

Polkamon’s continued partnerships have allowed the platform to introduce rare NFTs and collaborate with other platforms in the blockchain space.

The NFT market has grown in leaps in 2020 and 2021 with the launch of innovative platforms offering value to users. Polkamon has created a unique ecosystem where users can experience the thrill of unveiling rare digital monsters unavailable on any other platform. The technology behind this platform ensures that there is a continued increase in scarcity of the NFTs, such that a user can hold their unique collectible with the confidence that it will gain value with time.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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