Pollen DAO Raises $5 million to Build the Uniswap of Asset Management
Tortola, British Virgin Islands, 3rd September, 2021,
Pollen DAO Is proud to announce successful fundraising to the tune of $5 million. The DAO project aims to become the Uniswap of Asset Management. Pollen reimagines the approach to portfolio management and its associated incentive structure.
Decentralized finance is designed to be by the people for the people. Pollen DAO acknowledges that concept by introducing a decentralized platform for managing tokenized asset pools and leveraging trading and investing communities’ collective wisdom. Decentralizing asset management ensures users can curate custom asset pools and provides a reputation-based governance protocol with incentives for investment management decisions that benefit the shared asset pools. Furthermore, creating custom pools can suit the needs of a particular audience and use cases.
Pollen has raised $5 million with the help of key strategic backers, including The Graph and AlphaBit. With the help of the Polygon team, Pollen can focus on fulfilling its vision of becoming the Uniswap of asset management. Not only does it revamp the concept of portfolio management, but it also changes the overall incentive model.
AlphaBit Fund CEO Liam Robertson comments:
“We at AlphaBit are excited to announce our support for Pollen DAO in their mission to bring decentralization and DAO governance to the world of asset management. Pollen is bringing much-needed innovation to an industry that has traditionally been the exclusive domain of large institutions and expanding the definition of what DeFi means along the way.”
Pollen Business Development Lead Lana Pierce explains “While DeFi now seems to have many critical pieces of a cohesive financial system, like borrowing, lending, market making, etc., there are still no truly decentralized Index Funds”. Through Pollen, anyone can have a say in portfolio management and in exchange for positive contribution to the ecosystem. The decentralized autonomous organization structure will pave the way for users to contribute by providing a block native solution that harnesses the power of decentralization.
The Graph Foundation’s Manager of Grants Reem Chahrour adds:
“The Graph is delighted to provide Pollen DAO a grant towards their innovative solution driving DeFi 2.0. and usage of open APIs in DAO communities.”
Pollen’s open protocol and merit based system rewards and empowers the brightest minds in its community.By fully decentralizing governance and introducing a merit based reputation and rewards system, the platform allows for maximum impact. Unlike traditional indexes, Pollen’s indexes are dynamic, and asset proportions are continually rebalanced and optimized for markets that operate 24/7.
Pollen will go live on the Ethereum and Polygon networks initially. However, as a cross-chain solution, it will deploy on other blockchains and layers in the future per the roadmap.
Pollen DAO is a fully decentralized portfolio management protocol, enabling the creation and distribution of DeFi portfolio and index tokens whilst generating yield for token holders.
Pollen aims to reinvent asset management for the on-chain economy. Just like Uniswap revamped liquidity for the on-chain environment by introducing market maker fees to contributing users, Pollen will do the same for portfolio management.
For more information, visit https://pollen.id/
- Phillip Verrien