Polaris project performed well during October. In particular the strength of our community stands out based on the large number participating as liquidity providers and traders. Despite positive performance the Polar price ended up lower, although still several times higher than when the new team took over.
Fees: revenues and burn
During October Polaris earned 341,351 Polar tokens in fees: 280,923 from Polar supernovas and 61,058 from partner supernovas.
In addition, 154,733 Polar tokens were burned: 138,233 from Polar supernovas and 16,500 from partner supernovas.
Also, 16,500 Polar tokens were earned by partners from their own supernovas.
BSC partner supernovas included Collective, Bricks Estate and Pinoccu. Polygon supernovas included Kommunitas.
Polar Token economics
Polar price is currently at $0.0062. We were able to create our unified Polar token across BSC and Polygon, by implementing the Bridge during the month as planned.
Price compares favourably to the all-time low of $0.0012 and $0.0007. However the price is down from the previous end of month price of $0.0161 and $0.0095.
Polaris has 4,957 wallet addresses down from 5,050 at the beginning of the month.
Polaris has liquidity pools currently worth $138k. This is up from $123k at the beginning of the month, despite the lower Polar price.
Liquidity pools are maintained in Polar-BUSD and Polar-BNB on BSC Pancake Swap; and Polar-USDC and Polar-Matic on Polygon SushiSwap. Half of each of these pools consist of Polar and half the other pair, by value.
Polaris has a diverse liquidity pool with 197 liquidity providers with unique addresses.
Deep and diverse liquidity pools are vital in order to attract larger investors, traders and users.
Polaris has a very active community for our size and stage, as demonstrated by our trading activity. During October, 1,700 unique addresses traded 50m Polar tokens in 8,000 trades.
Polaris has £200k total value staked across 8 supernovas, which is down from £327k at the beginning of the month due to lower Polar price.
Some investors moved their stakes to the Polaris 30-day supernova held on Croxswap due to higher the APR% available, which may return on 6th November.
We have started to introduce Polaris to other projects and invite them to participate in a Supernova. Two have been converted to leads.
We lost two prospects. One required a large financial commitment from us to use their own services; and one was unable to prioritise their financial commitment to a supernova reward pool.
Our sales pipeline include ‘potentials’, ‘prospects’ and ‘leads’.
· ‘Potentials’ are projects who we have introduced ourselves but we haven’t heard back from them.
· ‘Prospects’ are projects that have agreed to receive a proposal and further engagement.
· ‘Leads’ are projects that have agreed to run a Supernova.
We haven’t started investing in marketing due to lack of funds. However in the interim we are relying on networking and word-of-mouth.