My Investigation on CoinMarketCap's Polkastarter Learn and Earn Campaign


 

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It seems that CoinMarketCap initiated an aggressive marketing policy lately with consecutive Learn & Earn campaigns of various altcoins taking place for another hot crypto summer. Therefore, Polkastarter is the latest CoinmarketCap Learn and Earn campaign and users who will successful respond all the questions of the quiz will receive $5 worth of POLS Tokens sent into their Binance Spot account. The campaign will be active from 2021.07.14 to 2021.07.23 (23:59:59 UTC).

What Is CoinMarketCap Learn and Earn?

CoinMarketCap Learn and Earn enables users to receive tokens while learning about a new cryptocurrency project. Each user needs to watch a series of educational videos about a crypto project and complete a quiz consisting of several questions about the project's basic information. There main challenge of the quiz is that the user needs to answer ALL questions correctly, otherwise no reward is provided.
It should be also noted that the content provided on CoinMarketCap Learn and Earn doesn't mean to provide any financial or investment advice from the platform and it serves purely as educational content for the CoinMarketCap users.

What Is The Polkastarter (POLS)?

According to CoinMarketCap POLKASTARTER overview webpage, Polkastarter is a blockchain platform designed to provide an easy to use launchpad for cross-chain token pools and auctions used by early-stage blockchain projects that want to raise capital and easily distribute their tokens at the same time. Through the platform, blockchain projects can easily create their own cross-chain swap pools, which allow them to securely raise funds, while users can invest without risks, since swaps are automatically executed by smart contracts. POLS is the native utility token of the Polkastarter platform and plays a number of roles in its ecosystem, being used for liquidity mining, governance, paying transaction fees, and gaining eligibility to participate in POLS-holder only pools.

The platform first went live in December 2020 and it was founded by Daniel Stockhaus an entrepreneur who successfully co-founded e-commerce firm known as LiGo and Tiago Martins a former Computer Science professor, an experienced developer with expertise in online education and product development and co-founder of Codeplace, an online platform that teaches the fundamentals of web development. As of February 2021, Polkastarter operates on the Ethereum blockchain, but it will eventually migrate to its own Polkadot mainnet.

A great attention should be taken to the participants of the campaign who shouldn't confuse the Polkastarter (POLS) token with the Polkadot (DOT) token.

I keep repeating that even 1 wrong answer either on purpose or by wrong judgement is enough to destroy someone's hopes of the CoinMarketCap Learn and earn the Polkstarter drop as the Learn and Earn campaigns require 100% correct results so I believe whoever writes an article with his recommendations should be highly motivated and responsible providing justifications for them. Just like in the GRT Learn and Earn campaign, the lessons for the Learn and Earn POLKASTARTER campaign can be found on a video format with a duration approximately 1 minute each so they aren't lengthy and boring:

– Lesson 1 : What is an IDO?
– Lesson 2 : What is Polkastarter?
– Lesson 3 : What is the POLS Token?

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Question 1: What is Polkastarter?

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JUSTIFICATION: Luckily, on Lesson 1 video "What is an IDO?", transcript is available, so from 00:00 to 00:17 we learn that Polkastarter is a multichain providing early-stage crypto=projects with more ways to grow their networks as follows:

Welcome to Polkastarter. Polkastarter is A protocol to launch and participate in
initial decentralized offerings or IDOs. Polkastarter is multi-chain providing early-stage crypto projects with more ways to grow their networks and connect with a large and knowledgeable community of blockchain enthusiasts and professionals

Question 2: What type of fundraising occurs on Polkastarter?

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JUSTIFICATION: On the same Lesson 1 video "What is an IDO?", on the same transcript we learn that Polkastarter is a protocol to launch and participate in initial decentralised offerings or IDOs:

welcome to polkastarter. Polkastarter is A protocol to launch and participate in
initial decentralized offerings or IDOs. Polkastarter is multi-chain providing early-stage crypto projects with more ways to grow their networks and connect with a large and knowledgeable community of blockchain enthusiasts and professionals

Question 3: What does IDO stand for?

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JUSTIFICATION: Again, on Lesson 1 video "What is an IDO?", on the same transcript we learn that IDOs stands for Initial Decentralised Offerings:

welcome to polkastarter. Polkastarter is A protocol to launch and participate in
initial decentralized offerings or IDOs. Polkastarter is multi-chain providing early-stage crypto projects with more ways to grow their networks and connect with a large and knowledgeable community of blockchain enthusiasts and professionals

Question 4: What are the benefits of a Polkastarter IDO to the projects that are fundraising?

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JUSTIFICATION: This is the tricky question of the campaign but again, on Lesson 1 video "What is an IDO?", from 00:42 we learn the number of benefits that IDOs and Polkastarter as a consequence offer compared to other models making answer 3 "All of the above" the correct one.

IDOs offer a number of benefits compared to other models including ICOs, STOs, IEOs and others.
Immediate liquidity means projects spend less time fundraising and more time building.
On-chain fundraising provides transparency and permissionless insight into a crypto project's past capital activity.
Fixed swaps establish a maximum investment amount per participant helping to protect against large token concentrations among whales early in token distribution.
Early access gives fans and supporters of crypto projects the opportunity to get in early and invest in projects with greater potential upside. IDO's typically occur in safer environments ensuring projects can fundraise with more confidence in their token holders and participants can invest with fewer concerns about rug pools or illegitimate teams
permissionless access ensures any eligible address can participate in an ido opening up opportunities to more diverse community members without sacrificing security increasingly idos are becoming a preferred method to raise capital on blockchain networks
polkastarter has emerged as the leading ido platform in the crypto ecosystem offering projects quick access to community and capital and offering participants secure token opportunities

Question 5: Which if these chains is Polkastarter not live on?

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JUSTIFICATION: On Lesson 2 video "What is Polkastarter?", on 00:10 we learn that Avalanche is the only chain that the platform isn't live, at least yet, as follows

Polkastarter launched in Ethereum and it has been expanded to support IDOs on Binance Smart Chain and Polygon with more networks to come.

Question 6: What primary role does the POLS token play in a Polkastarter IDO?

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JUSTIFICATION: On lesson 3 video "What is the POLS Token", on 00:09 we learn that participants must hold POLS tokens to be whitelisted for an IDO as follows:

To ensure more fair and secure fundraising process for both project and community members, only whitelisted addresses can participated in Polkastarter IDOs. Whitelists are chosen on random from a pool of eligible addresses. An address is only eligible for whitelisting if it holds at least 250 POLS.

Question 7: What is the minimum amount of POLS you have to own to be eligible for a Polkastarter IDO  whitelist?

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JUSTIFICATION: On the same lesson 3 video "What is the POLS Token", again on 00:09 we learn that the minimum amount of POLS that a participant need to own to be eligible for a Polkastarter IDO whitelist is 250 POLS:

To ensure more fair and secure fundraising process for both project and community members, only whitelisted addresses can participated in Polkastarter IDOs. Whitelists are chosen on random from a pool of eligible addresses. An address is only eligible for whitelisting if it holds at least 250 POLS.

Question 8: Add Polkastarter to your "Public Watchlist"

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The last question is a promo CoinMarketCap question requesting to the participants to add Polkastarter to their "Public Whatchlist" and add the corresponding link on the quiz. In order to achieve that, the participant should first go to CoinMarketCap's Polkastarter webpage and click on the yellow star as follows in order to add the Polkastarter in the participant's public watchlist as follows: 

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As  a result the Polkastarter token will be added on the participants public watchlist

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Then the participant should click on the "SHARE" button on the top of the watchlist and copy paste the watchlist's link into the quiz Question 8 field.

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It should be well noted that the quiz won't request you to provide any on-chain wallet address such as Metamask as the Polkastarter tokens dropped from the campaign will be provided directly to the participant's Binance spot account after providing the Binance ID at the beginning of the quiz. And as a finish of the the investigated I have found a traditional Polka Performance at Oktoberfest. Enjoy !!!

 

Disclaimer: All information found on this article is for informational purposes only. I do not provide any personal investment advice so please make your own research before proceeding to any investment/trading actions

 

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