The new platform will allow early stage projects to organize token sales without ‘custodians’
Polygen (PGEN), a “fully decentralized” launchpad, shares the details of its strategic fundraising round supported by a number of top VC foundations.
Polygen raises $ 2.3 million, SL2 Capital leads the way
According to a press release shared with U.Today, Polygen, which deals with the creation of a decentralized platform for selling cryptocurrency tokens (launchpad), has completed its strategic funding cycle.
A total of $2,300,000 is secured from a clutch of high-profile investors. SL2 Capital led this funding campaign, while 18 Ventures, Twin Apex Capital, AU21, Polygon Syndicate, Axiom, ZBS Capital and Pluto also took part in the funding.
In addition to these teams, the tour was supported by Iconomy, Insignius Capital, NetZero Capital, Maven Capital, Woodstock Capital Fund LLP, Sky Man Ventures, Lumos labs, Moonboots Capital, Storna Finance, Extra Watts, LD Ventures, Keys Investment, LucidBlue Ventures , Biconomy, GSR and Amplio Capital.
A representative of Insignius Capital, one of the most reputable investors behind the Polygen (PGEN) funding round, underlines that the company strives to solve crucial issues on the modern tokensale scene:
Insignius Capital is delighted to embark on this adventure with Polygen. The current lack of transparency and decentralization shouldn’t be the norm for launchpads. As such, we are committed to helping Polygen bring decentralization and efficiency back to the realm of launch pads. We look forward to a positive collaboration with the highly regarded Polygen team.
Uncensored “one-stop” decentralized launchpad
Polygen CEO Mike Hepburn is certain that many products will take advantage of its architecture when it launches to organize transparent, non-custodial token sales:
I am extremely excited to be part of the Polygen team. Our industry-first, decentralized launchpad with no gatekeepers, is generating a lot of excitement in the crypto ecosystem. Additionally, I think Polygen represents a radical shift in seed fundraising with projects capable of freely raising funds to innovate and experiment.
As such, the project is on its way to launching a decentralized launchpad that would allow every project to raise funds.
Polygen will start its launch pad from its own PGEN token and five other products. By Q1, 2022, Polgen is planning to have 50+ permissionless launches and a decentralized KYC module.
