Polygen, a decentralized launchpad where users can launch their projects, innovate and experiment, has just raised $2.3 million through an investment round, according to the press release seen by iHodl.
Polygen has received funds from a wide range of investors, including SL2 Capital, which has led the funding round, followed by 18 Ventures, Twin Apex Capital, AU21, Polygon Syndicate, Axiom, ZBS Capital, and Pluto. Other participants include 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.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
An Insignius Capital representative said:
"Insignius Capital is excited to embark upon this journey with Polygen. The current lack of transparency and decentralization shouldn't be the norm for launchpads. As such, we are committed to supporting Polygen in bringing decentralization and efficiency back to the launchpad sphere. We look forward to a positive collaboration with the highly regarded Polygen team."
One of the main characteristics of the project is the fact that it allows all users to launch a project without payment fees, something that can greatly contribute to the cryptocurrency industry.
As a result, the project could be somehow compared to Uniswap, but in the field of launchpads, since it provides democratized access to launchpad services.