What is PolkaBridge? In-depth Analysis of PolkaBridge & PBR

I. What is PolkaBridge?

PolkaBridge (PBR) coin is a decentralized internet protocol designed to act as the primary bridge between Polkadot and other blockchains. Along with bridge services, PolkaBridge also includes DeFi-enabled functionality. Currently operating on the Ethereum blockchain, PolkaBridge has intentions to switch over to the Polkadot blockchain soon. Other blockchains will eventually receive PolkaBridge functionality if needed.

PolkaBridge is a component of the PolkaBridge platform. Farming is a special type of profitable agribusiness that accepts a piece of each transaction as a deposit for betting reward pools rather than depending on inflation to reward members. Each transaction also burns a certain amount of money.

An Initial Decentralized Offering (IDO) platform called PolkaBridge Launchpad was created to foster promising startups and give PBR holders access to early-stage financing.

II. History of PolkaBridge

PolkaBridge is a decentralized finance (DeFi) project built on the Polkadot network, aiming to provide users with a bridge between different blockchain ecosystems. It facilitates the seamless transfer of assets and liquidity between different blockchains, enhancing interoperability and expanding the possibilities of decentralized finance.

III. Striking Features of PolkaBridge

PolkaBridge’s AMM (Automated Market Maker)

Multi-Chain AMM:

PolkaBridge is developing a decentralized exchange using a multichain AMM mechanism, enabling users to swap tokens across different blockchains on a single platform. Once fully deployed, the multichain AMM of PolkaBridge will support Ethereum, Polygon, Solana, Polkadot, and Binance Smart Chain (BSC).

For instance, users can swap ETH for PBR on the Ethereum blockchain and also exchange BNB for PolkaWar (PWAR), all within the same platform.

Cross-Chain AMM:

After launching the decentralized exchange with the multichain AMM mechanism, the next step is to develop cross-chain functionality. This mechanism allows users to swap tokens between different blockchains directly, without intermediaries.

For example, if you want to swap ETH on Ethereum for DOT on Polkadot, you can deposit ETH into PolkaBridge’s ETH-DOT pool. The existing token data in the pool will be used to calculate the conversion rate to DOT. Once calculated, the Moonbeam smart contract will return the DOT token to your wallet, completing the swap.

To connect with the Polkadot blockchain, PolkaBridge will utilize Moonbeam’s parachain solution, enabling Ethereum-compatible smart contracts to operate on Polkadot and maintain connectivity. This approach involves running two smart contracts in parallel, one on Polkadot and the other on the respective blockchain (e.g., Ethereum), facilitating the swap. The same principle applies to connecting with Solana, Binance Smart Chain, and Polygon.

Farming:

Instead of creating new tokens or unlocking existing ones, PolkaBridge charges a 0.5% fee on all PBR transactions. Ninety percent of this fee is distributed to farmers who provide liquidity on the platform’s dApps, while the remaining 10% is permanently burned, reducing the circulating supply. This process increases the value of the PBR token and benefits farmers and token holders through the accumulation of value.

PolkaBridge Multi-Chain Launchpad:

The PolkaBridge Launchpad allows PBR token holders to access early-stage investment opportunities and potential projects, providing them with high-profit margins and profitable opportunities that were previously limited to investors with significant capital and resources. All projects are thoroughly vetted by the PolkaBridge team to ensure legitimacy and give users confidence when investing.

PolkaBridge Multi-Chain Staking:

PolkaBridge offers a multi-chain staking platform where users can stake PBR tokens on various blockchains and earn profits simply by depositing them into a liquidity pool.

PolkaBridge Lending and Prediction:

The project plans to introduce a lending platform where users can lend their assets to generate interest, while borrowers can access capital at certain interest rates, creating a decentralized economy. Additionally, PolkaBridge will introduce a prediction platform, enabling users to make bets on real-world events and earn rewards if their predictions are correct. The integration of an oracle function will allow data to be forwarded to smart contracts to determine the outcome of events.

IV. Core Technology of PolkaBridge 

V. What is PBR?

1. Detailed Information about PBR

• Token name: PolkaBridge token
• Ticker: PBR
• Blockchain: Ethereum
• Token Standard: ERC-20
• Token type: Utility, Governance token
• Contract Address: 0x298d492e8c1d909d3f63bc4a36c66c64acb3d695
• Total Supply: 85,964,094 PBR

2. PBR Allocation

• Public sale (IDO): 20%
• Ecosystem: 30%
• Team: 20%
• Marketing: 20%
• Initial Liquidity: 10%

3. Use Cases of PBR

• Governance: PBR holders have the right to vote to change the parameters, features and development roadmap of the PolkaBridge ecosystem in the future.
• Lending Fee: Using PBR to pay borrowing fees on PolkaBridge Lending, users will receive 50% discount and the remaining 50% will be burned to support token deflation.
• Farming to get rewards.
• Launchpad: To participate in future projects on PolkaBridge Launchpad, users will have to lock a certain amount of PBR.

VI. How to earn & own PBR?

You can buy and sell PBR on exchanges such as: MEXC.com, Gate.io, Bitmart.com, Bibox.com. In which the BPR trading volume is the largest, the MEXC exchange accounts for about 40% of the total trading volume.

VII. Which Crypto Wallets are suitable for PBR?

You can store PBR on wallets such as: Metamask, Trustwallet, Coin98, Myetherwallet.. in short, wallets that support ERC 20 can store PBR.

VIII. PBR Recent Developments

IX. Teams, Funds & Partners of PBR

1. Team

PolkaBridge is developed and operated by a team of diverse cultures and diverse areas of expertise. However, most of the team members have been working in the Blockchain and Crypto industry for a long time.

2. Investment Funds & Partners
Currently the project does not provide any information about their investors.

Conclusion

The above is Waytrade’s comment on the PolkaBridge project which is our personal opinion, this is not investment advice at all. Investors should be responsible for their own decisions. 

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