Polkalokr — Highly Customisable Escrow for Token Economies. | by Boss95rnd | Mar, 2021
Crypto News

Polkalokr — Highly Customisable Escrow for Token Economies. | by Boss95rnd | Mar, 2021


Boss95rnd

Polkalokr is a platform that facilitates different blockchain-based products, including an escrow service, among others. The platform is perfect for locking custom-made tokens for different purposes, and also offers users a seamless experience when integrating into existing decentralized applications.

One of the major takeaways of the Polkalokr platform is the amazing user experience, as well as the simplicity and trust it brings to blockchain-based ecosystems that may be complex to understand and join. Furthermore, the escrow service acts as a platform that empowers network participants to perform token distributions without interference from 3rd parties.

Polkalokr is providing users with a versatile and flexible solution to facilitate multi-chain locking for tokens. The platform comes with a user interface that is easy to use, and a framework that is both flexible and customizable; a blockchain-based solution that was designed to meet the needs of network participants, validators, and investors by providing them with different options for payouts, monetization, release schedules, among other productive features.

There are different use cases for the Polkalokr platform including atomic swaps, multi-chain escrow, etc. The platform is looking to on-board Enterprise partners who will use the Polkalokr platform for the integration of products and services in businesses.

Products and their features

There are two major products form Polkalokr, and the combination of these products provides users with a wide range of options to monetize, distribute, lock, swap, and insure tokens within blockchain networks and decentralized finance (DeFi) systems. These products include the following:

This brings a lot of versatility to multi-chain token services, and brings different features to the table:

  • It is designed for easy use and has the user in mind.
  • With the aid of Polkadot, the platform supports cross-chain functionalities.
  • It is fully customizable.
  • The release schedules are flexible.
  • The token unlocks is based on events within the ecosystem.
  • There are different insurance products.
  • Users can monetize their locked tokens.

This is a person to person (P2P) protocol for swapping cross-chain tokens. The Swapr product features the following:

  • With the Swapr protocol, atomic swaps can happen cross-chain, and users have access to improved multi-sig and privacy options.
  • By implementing Lokr Oracle feeds, users can perform event-based or instant execution.
  • Digital assets that have been tokenized, can be swapped.

There is an increased interest in DeFi and blockchain, and some businesses are finding it difficult to leverage the amazing benefits of these technologies. A lot of enterprises out there will perform better if they onboard blockchain and DeFi, however, the complexity and technicality of the technologies may be the hindrance that the enterprises need to deal with.

Polkalokr intends to provide a flexible, easy, and trustless platform that takes away the need to rely on 3rd parties and centralized systems. Users have access to a versatile, flexible, and simple decentralized solution that comes with a plethora of use cases for people who want to make good use of blockchain and cryptocurrency for their businesses.

Problems of other existing systems

Token economies of some other systems are not as seamless as they should be, considering that there are still bad actors and human errors to deal with. Some other problems that have contributed to slowing down the mainstream adoption of token economies include the following:

A lot of businesses still find it difficult to adopt tokenization because the technology is not easily accessible, while others are concerned about the risks involved, considering that it is a relatively new technology and is not as regulated as it should be.

By default, the blockchain technology is safe and secure, however, there may be loopholes in the somewhat centralized way that token distributions and unlocks happen, considering that the team usually handles the token economies.

Blockchain-based systems are not always easy to understand, especially the technicality behind token unlocks, inflation, and the other aspects of tokenization, and that complexity has made it difficult for some businesses and organizations to get involved.

Polkalokr features and solutions

The flexibility of the Polkalokr platform provides the appropriate solutions to the aforementioned problems:

  • Humans usually pose a problem to systems that aren’t automated, and thus are the weak links. In this case, Polkalokr takes away the human factor and presents users with an automated and trustless system that is focused on the governance of the protocol. This trustless system is needed in order to seamlessly handle the locked tokens and escrow services.
  • The platform is seamless and customizable. At the core of Polkalokr’s functionality is an improved user experience at different stages of using the platform.
  • Polkalokr makes it easy for enterprises to onboard and integrate the different services offered by the platform. The company will make partnerships seamless for prospective partners.

There is an increased interest in blockchain-based systems, and Polkalokr is aligning with the trend, by providing amazing tokenized services that will make it easy for anyone to onboard. The user interface is seamless, and easy to navigate.

Decentralization is the order of the day, and it is amazing the type of solutions that decentralization brings to an already centralized system. This is the age where decentralized finance (DeFi) is causing disruptions both within the crypto space and outside with traditional finance systems. With the Polkalokr platform, users have access to a modern and easier approach to facilitating tokenization of systems in a flexible, trustless, and seamless way.

This is the 4th industrial revolution, and it is interesting to see different crypto-based solutions and use cases pop up every moment. Polkalokr is a promising platform with so much to offer, and there are indications that the platform will provide more innovative products and services to help crypto users and investors get the perfect environment they need for token-based activities.

Blockchain is a powerful technology, and harnessing its powers may not be easy for every business, and that is where Polkalokr comes into view, by making it easy for enterprises to integrate its features into their existing business models and systems.

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Author Telegram: @nik95rnd





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