]
**Step 6:** Once fully set up, select the wallet on Metamask you want to connect.
**Step 7:** To start buying raiseTokens, click “APPROVE” and confirm the transaction on your Metamask wallet.
**Step 8:** Now you have approved, you can buy your first raiseToken. Click the “BUY” button and enter the desired amount of ‘units’ (raiseTokens) you want to buy, and click “BUY raiseToken” to confirm the transaction on your Metamask.
Congratulations! You now have purchased raiseTokens, and you can see them under the “My Transaction” tab at the bottom of the page.
You can repeat the same process if you want to buy more.
**Bonus Step:** If at any point you change your mind and you want to get your deposited amount back, just click the “Refund” button on the right side of your transaction, click “APPROVE,” confirm on your Metamask and then click “CONFIRM” and confirm the transaction on your Metamask to get your deposited money back.
# Polygen SuperStaking
Learn what Polygen SuperStaking is and how to use it.
### Polygen SuperStaking
Key features of PGEN Community SuperStaking:
* A 30 day lock-up period for staking $PGEN on Polygon via Super Staking
* $PGEN rewards can self-multiply as the network demand and market value fluctuates, which is represented as “Potential” rewards
* When a user exits the Super Staking pool, 10% of his/her rewards are distributed among those users who remain staking in it. $PGEN hodlers are better incentivized for the time they stay committed to supporting Polygen.
* Every 24 hours the $PGEN Super Staking platform displays the top five users that have staked the biggest amount of $PGEN
* An all-in-one tab within the platform to check $PGEN price, supply metrics, and social media updates will be live soon.
### Step-by-Step Guide to SuperStaking
**Step 1**: Go to Polygen Super Staking, here.
**Step 2**: Click on “Connect Wallet”
**Step 3**: Choose between Metamask and Trust Wallet
**Step 4**: Once your wallet is connected, go to “Stake”
**Step 5**: Enter the amount of $PGEN you want to Super Stake and click on “Approve”
**Step 6**: You will be prompted with the option to approve the amount of $PGEN you want to SuperStake. If you agree, click on “Proceed”
**Step 7**: Verify the transaction fees and wait a few seconds until your transaction is confirmed.
**Step 8**: Click on Stake to proceed with the amount of $PGEN you want to Super Stake.
**Step 9**: If you agree, click on “Proceed”
**Step 10**: Verify the transaction fees and wait a few seconds until your transaction is confirmed.
**Step 11**: Once the transaction is confirmed, a pop-up window will appear on your screen indicating that your $PGEN tokens have been Super Staked
**Step 12**: Go to the “Dashboard” to see the amount of $PGEN you have Super Staked, your rewards and potential rewards.
# Polygen's raiseToken 101
# raiseToken
### What is the raiseToken?
One of the most common questions we get from new members in our community is “What is a raiseToken?”
Well, the raiseToken is a pseudo-token that we engineered to be able to offer fair investment and raise opportunities within the Polygen dApp.
In short, a raiseToken is a distributed "I owe you" that an investor purchases during a raise of a project. After the raise, if the project collects enough funding, it meets the raise target or surpasses it. Then the investors will be able to trade in their raiseTokens for the tokens of the project. In turn, all raiseTokens that have been exchanged for project tokens are then burnt.
\
The raiseToken has no value or utility outside the raises on Polygen and cannot be traded publicly after a raise closes. However, since it is an “I owe you”, investors can claim their share of the token pool from their invested project. The raiseToken has two functions, which can be broken down into two different time windows, *during* and *after* their raise.
###
### During the raise
During the raise, raiseToken are sold in all our raise types. They serve slightly different functions depending on which raise type.
#### raiseTokens in Polygen Fixed Price
The “Polygen Fixed Price” implements our signature raiseToken. Our raiseToken will remain a consistent price throughout the raise, unlike our FLO, where the raiseToken’s price is in constant fluctuation.
Polygen Fixed Price is the standard raise mechanism found on most launchpads. The “Polygen Fixed Price” is a raise in which the price does not fluctuate in relation to demand. (eg. 1 USDC = 1 raiseToken)
All raises using the “Polygen Fixed Price” mechanism will have a purchase limit per wallet, this is to ensure no whales purchase the entire supply of raiseTokens. If investors are a holder of $PGEN and are a tiered members of the Polygen community, then the purchased quantity increases.
An optional feature that projects can decide on themselves is to reward tiered members with a discounted price for their raiseToken.
#### raiseTokens in FLO
In a Fair Launch Offering (FLO) using Balancer’s Liquidity Bootstrapping Pool (LBP) or Polygen’s tailored liquidity pool. Since FLO is inspired by the Dutch Auction mechanism, when the raise begins, the price of the raiseToken declines until the raise ends.
But as the price declines and the demand for raiseToken increases, the price of raiseToken begins to increase in alignment with the quantity of raiseToken being sold.
Therefore, it is important to know that whenever an investor purchases the raiseToken in a raise period, the price of the raiseToken rebalances relatively to the number of raiseTokens purchased. This functions as our anti-whale system.
The reason why the price increases when the raiseTokens are purchased is to maintain the integrity of the pool and create an incentive for smaller purchases with time intervals between purchases. This allows investors with small capital to attempt to purchase at their preferred price point, while off-putting front-runners and whales.
### After the raise
#### raiseTokens after FLO
Two scenarios can occur after the raise. The raise can either succeed or fail.
If the raise is successful, investors will be able to claim their portion of the project tokens in relation to the number of raiseTokens they had purchased. The more raiseTokens an investor owns, the larger the share of the project token pool the investor will receive.
If the raise fails, investors will be able to claim a refund based on the average price of all raiseTokens sold.
For example, investors "A" and "B" purchased raiseToken for an average price of 0.73 USDC and 0.65 USDC, respectively. However, the average price of all raiseToken sold was 0.69 USDC, investors "A" and "B" can receive a refund of 0.69 USDC per raiseToken owned.
Warning, this price can fluctuate and is dependent on many factors such as the investor's purchase quantity and price, and the quantity and price purchased by other investors.
Here is another example:
Maria truly believed in a project, and Maria purchased 100 raiseToken for 1000 USDC, and only one other person, John, bought 100 raiseToken for 400 USDC. The total pool value would be 1400 USDC, which would then be auto refunded to the two of them. The refund both Maria and John would receive is 700 USDC.
Taking this into consideration, it's essential to be strategic and take the time when investing in new projects on Polygen. That is why we here ate Polygen are big advocates of self-education and research. We encourage all investors to get familiar with our Fair Launch Offering and learn how to DYOR.
# FAQs about the raiseToken
### FAQs about the raiseToken.
#### Why does Polygen have raiseTokens?
For one simple reason — with raiseTokens , Polygen can offer much more to the community!
For example, projects can offer more than one token to be claimed, or they can provide different types of assets (e.g., NFTs). No other launchpad offers this! It is Polygen's permissionless flexibility that makes us the future of launchpads.
The raiseToken creates many new opportunities between the raise and the distribution of project tokens. This motivates us to keep creating new flexible tools to utilize in that period. Making the raiseToken an essential part of the community seeding process.
#### How does raiseToken enable seeding and why not just sell the project token?
Polygen allows anyone to post a raise and provide the initial USDC to “seed” the raise.
#### How does the raiseToken protect investors on Polygen?
Polygen's Seed Token protects investors from a "Bring Your Own" (BYO) token policy. Through a BYO token policy, investors who provide the initial liquidity in the seed round are at risk of being scammed by the raiser.
Why? Let's say a raise creator puts 1% of their BYO token into the seed round, asking for a $1MM seed. Then as the project proceeds into the raise round, they sell the remaining 99% of the token into the raise after it starts. This will result in draining most of the USDC from the seed round in the process. The raise would then ultimately fail and auto-trigger Polygen's refund function. However, there would be little to no USDC left in the pool in this case, so the refund would not be possible. Meaning the creator of the BYO token would have effectively stolen funds from the seeders.
Using the raiseToken, even if the raise fails to hit the target, there will always be enough USDC in the pool to cover the seed costs. Seed funds are a critical part of Polygen FLO's — and because the seeder doesn't benefit from the raise in any way (other than the optional seed fee paid for a successful raise), we need to keep them safe.
#### What is the raiseToken worth?
raiseTokens are in relation to its claim power (the % share the investor holds concerning all other raiseTokens) on all future rewards the project behind the raise is offering. The raiseToken is NOT worth the value of the money raised. The raiseToken is frozen, cannot be transferred or traded, and has no price. The money raised is now owned by the project, who must now do something to provide investors with future value, be that a token, NFT, or the project's next big thing!
Projects must be very clear about what future value they aim to provide.
Just like traditional platforms such as KickStarter, GoFundMe, IndieGoGo, etc., the raise should be specific.
Investors GIVE money to the project, and the project CREATES something for the investors to want in the future. If the investors look at it objectively, the raiseToken's value is not about what investors have put in, but the value they expect to get from it.
# Polygen Tiers
Everything you need to know about Polygen Tiers.
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The [Polygen Tiers](https://tier.polygen.io) aims to reward loyal $PGEN holders who see the bigger picture for the Polygen platform. Depending on how much $PGEN you wish to stake, you will have an assigned tier. Depending on which tier you are part of, you will receive unique perks and exclusive access.
Unique perks? Yes, perks! Tiers will be directly connected to raises, giving perks to tier holders such as discounted pricing and increased maximum purchase amounts.
Exclusive access? Yes, as projects organize private raises on Polygen, we are pushing them to integrate the Polygen Tiers into their raises.
As it grows and evolves, the $PGEN becomes more powerful to those who understand what it means to hold. The Polygen Tiers rewards $PGEN holders for their loyalty by giving them tiers depending on how much they have staked.
### What are the perks of joining the Polygen Tiers?
Joining the Polygen Tiers doesn't just increase your status in the Discord, it also leads to a bunch of perks for future investment opportunities. The perks of being a part of the Polygen Tiers directly benefit members during raises on Polygen.
Since Polygen has various forms of raise types we'll dive into the raise types and what it means for members of the Polygen Tiers!
#### Polygen Fixed Price
When a project decides to use the Polygen Fixed Price raise type, they are selling their project tokens at a fixed price and quantity. (Read more about Polygen Fixed Price here)
Since Polygen is striving to create a fair raise process for investors, we require that all fixed price raises have a limited purchase amount on tokens. In the case of Polygen Tiers their maximum purchase amount increases.
#### FLO powered by Polygen
Not all projects have a predetermined token price; sometimes, projects want the market to discover the token's price organically. If that is the case, the project will choose FLO powered by Poylgen as their raise type.
Our signature raise type uses a dutch auction-like pricing mechanism; however, the price is not continuously sloping downwards; it increases in price as the demand for the token increases.
What does this mean for members of the Polygen Tiers? Well, we've created a percentile discount model in which the purchase price is discounted for each tier member.
**Private Raise Rounds**
Projects often want to collaborate with launchpads to do private rounds, commonly using a whitelist. We want to create a community of trusted investors from the Polygen Tiers and encourage projects to offer it to the Polygen Tiers in their private rounds.
However, we want to work our way away from the Whitelist model. Therefore, when the opportunity arises, each tier, from highest ranked to lowest ranked, will be allowed to enter the private round, with the highest-ranked having priority over lowered-tiered members.
We can not guarantee that all private rounds will be for the Polygen Tiers, but we will strive to bring the Polygen Tiers into Private rounds.
{% hint style="success" %}
[Join Polygen Tiers!](https://tier.polygen.io)
{% endhint %}
### What are our Tiers?
#### Tier 1 - Megagen: Stake 20k $PGEN
✔️ Polygen Fixed Price: 1.5x Multiplier on Max Purchase Amount
✔️ FLO powered by Polygen: 5% discount on raiseToken price
⏱️ Activation period: Need to stake 50 days\*
#### Tier 2 - Gigagen: 40k $PGEN
✔️ Polygen Fixed Price: 2.5x multiplier on Max Purchase Amount
✔️ FLO powered by Polygen: 10% discount on raiseToken price
⏱️ Activation period: 30 days\*
#### Tier3 - Teragen: 80k $PGEN
✔️ Polygen Fixed Price: 5.5x multiplier on Max Purchase Amount
✔️ FLO powered by Polygen: 20% discount on raiseToken price
⏱️ Activation period: 15 days\*
\* Activation period is the time that you must have your $PGEN staked uninterrupted. Your $PGEN is not locked in for that period and you can pull your $PGEN out if you wish.
### [Step-by-Step Guide to Staking for Tiers](https://youtu.be/aic5nD6tnmc)
**Step 1:** Install Metamask and connect to the MATIC network.
**Step 2:** Transfer PGEN tokens and Matic (Polygon) tokens to the wallet intended to be linked to tiers.
**Step 3:** Go to the [Polygen Tier landing page](https://tier.polygen.io). Scroll to the bottom of the page and select “Join a tier now”.
**Step 4:** Choose the membership Tier you desire and allocate the necessary PGEN to meet the requirement.
**Step 5:** Click “Connect wallet”.
**Step 6:** Approve transaction.
**Step 7:** Polygen will automatically connect to your selected tier depending on the desire allocation.
**Step 8:** Enjoy your new tier status!
### [Start using Tiers now!](https://tier.polygen.io)
# Polygen Tiers T\&C's
**TERMS & CONDITIONS**
**Project: POLYGEN- MEMBERSHIP TIER PROGRAM**
**Period:** From the time you agree to enter into this Project till the date either of the parties decides to terminate at their own will (Dates extendable by the Organiser)
**Organiser:** *POLYGEN (POLY), POLYGEN INC., Panama*
**Objective:** Polygen is *the Community's Launchpad*, a decentralized launchpad where projects are free to innovate, experiment, and launch their ventures with no gatekeepers.
Polygen is for all projects who want complete flexibility over how much they raise, which raise type they use, how they do their tiering and operate any fundraising round.
Projects on Polygen, are provided the tools needed to experiment and create a customizable raise, because a unique project requires a unique launchpad.
The Project is aimed at increasing audience, who would advocate for the Organizer to increase users, community engagement and brand visibility, worldwide. In turn the Participants earn bounties and rewards by staking/blocking their tokens for a time period as required and assigned to the Participants.
**1. Eligibility:**
Open to any member of the public who agrees to be become a Participant by participating in the Project by joining the discord. The intended participant also need to connect their wallet as per the options available for the tiers , on the “Website” during the Period, and :
* is aged 18 or older at the time of entry or is of such legal age as required in the country that you are a resident of.
* Project is subject to all applicable federal, state and local laws and regulations and is void where prohibited by law.
**2. Agreement to Terms & Conditions:**
By participating in the Project, participants fully and unconditionally agree to and accepts these Terms & Conditions and the decisions of the Organiser, which are final and binding in all matters related to the Project.
**3. To Enter:**
* Intended Participant should join the discord channel \[PROVIDE LINK] and fill in the required details as indicated and connect their wallet.
* By filling in the details the Participant confirm to the Organiser that the data provided could be retained by the Organiser.
* Each Participant must be the rightful owner of the wallet used for registering.
* Any attempt by an entrant to deliberately damage any website or undermine the legitimate operation of the Project may be a violation of criminal and civil laws. Should such an attempt be made, Organizer reserves the right to seek damages to the fullest extent permitted by law
**4. Selection of Participant:**
* Participants will be rewarded at the completion of a particular task as detailed in the “Tiers”. Any violation of any rules including these Terms and Conditions will disqualify the Participant and/or the Participant, any decision on this shall be at the sole discretion of the Organiser. The Organiser will announce and contact the Participant with the prize on a monthly basis or at such intervals solely decided by the Organizer.
**7. Privacy Policy:**
* Any personal information supplied by each participant will be subject to the Organiser's privacy policy posted at this website. Additionally, by entering the Project you understand that the Organiser and/or its respective parent companies, subsidiaries, affiliates, and related companies may send you additional commercial marketing email regarding its products.
* Participation in the Project constitutes consent to use participant's name, biographical information, image, and likeness for editorial, advertising and publicity purposes without additional compensation, except where prohibited by law. Participant releases and holds harmless the respective parent companies, subsidiaries, affiliates and related companies, and each of their respective officers, directors, employees and agents (collectively, **Affiliates**), of the Organiser, for any liability, claims and causes of action based on defamation or violation of rights of publicity or privacy.
**8. Disclaimers:**
* You must always act responsibly and sensibly and be responsible for all KYC and do your own research (DYOR).
* We are not qualified to express an opinion on your investments or the projects on our site , you must obtain professional or specialist advice wherever required before participating.
* We DO NOT allow abuse. This includes personal attacks, harassment, intimidation, threats, bigotry, slurs, supports of violence, or discrimination against marginalized groups.
* We DO NOT allow spam. This includes any attempt to clutter or derail authentic conversation, such as unsolicited advertisements, trolling, and excessive message flooding.
* We DO NOT allow doxxing. This includes posting private or identifying information about a user if that information was sourced from outside of Kickstarter. Even if this information is available elsewhere, we would consider it doxxing to post information that the individual did not volunteer.
* We prohibit projects that are illegal, heavily regulated, or potentially dangerous for backers, as well as rewards that the creator did not make, however the Participant shall take all responsible KYC and DYOR with regard to the same.
**9. Termination:**
* The term of this Project shall be subject to your continued membership in Organizer and your status as a Participant.
* We may cancel this Project with or without information to you. You agree to notify us during this Project of any changes related to your email address information. It is your responsibility to keep your email address current, access, check and read the emails Organizer has sent to you. We are not responsible for failures of technology and any non-receipt.
* In the event this Project is terminated/cancelled for any reason (including any of our affiliate’s decision) and unless otherwise stated, Organizer may request you to withdraw all amounts held in your Account(s). If you do not comply with such request or the removal of funds, all monies or assets held in your e-money accounts (“Accounts”) may be subject to any administration, maintenance or inactivity fees. We or you may terminate this Project but continue to be a member of the Project and shall continue to pay all the applicable fees and costs related to the same.
* You understand that if for any reason you violate or we believe that you have violated any of the terms of the Project, Organizer reserves the right to immediately deactivate or terminate the Project. Termination of this Project, for any reason, will terminate any and all of your rights under this Project and any further payments of any kind and is effective at the time of said termination. You agree that Organizer may offset any sums due to you against any debts or damages you owe us upon termination.
**10. General:**
* By participating each Participant releases the Organiser and its Affiliates, including advertising and Project agencies, from any and all liability with respect to the Project or the acceptance, possession or use of any prize, including and without limitation to;
(i) any condition caused by events beyond the Organiser’s control that may cause the Project to be disrupted or corrupted;
(ii) any injuries, losses, or damages (compensatory, direct, incidental, consequential or otherwise) of any kind arising in connection with or as a result of the prize, or acceptance, possession, or use of the prize, or from participation in the Project and
(iii) any printing or typographical errors in any materials associated with the Project. Organiser reserves the right, in its sole discretion, to cancel, modify or suspend the Project in whole or in part, in the event of fraud, technical or other difficulties or if the integrity of the Project is compromised, without liability to the Participant. The Organiser and its Affiliates are not responsible if Project cannot take place or if prize cannot be awarded due to travel cancellations, postponements, delays or interruptions due to acts of God, acts of war, natural disasters, weather or acts of terrorism.
* The Organiser reserves the right to amend the terms and conditions at any time without any notice being given to the Participants.
* No Participant shall have any resource or claim against the Organiser as a result of: a) any amendment to these terms and conditions ; b) The Organiser’s cancellation, termination, suspension or postponement of the Project; c) The Organisers inability, despite attempts, in line with these terms and conditions, to reach a participant
* Organizer reserves the right, in its sole discretion, to cancel, terminate, modify or suspend the Project should virus, bug, non-authorized human intervention, fraud, or other cause beyond Organizer’s control corrupt or affect the administration, security, fairness, or proper conduct of the Project.
* Participant acknowledges that the Organiser and its Affiliates have not made nor are in any manner responsible or liable for any warranty, representation, or guarantee, express or implied, in fact or in law, relative to any prize, including but not limited to its quality, mechanical condition or fitness for a particular purpose. Any and all warranties and/or guarantees on a prize (if any) are subject to the respective manufacturers’ terms therefore, and each Participant agrees to look solely to such manufacturers for any such warranty and/or guarantee.
* **CAUTION: ANY ATTEMPT BY ANY PARTICIPANT TO DELIBERATELY DAMAGE THE WEBSITE OR TAMPER WITH OR UNDERMINE THE LEGITIMATE OPERATION OF THE PROJECT IS A VIOLATION OF CRIMINAL AND CIVIL LAWS. SHOULD SUCH AN ATTEMPT BE MADE, ORGANISER RESERVES THE RIGHT TO SEEK REMEDIES AND DAMAGES FROM ANY SUCH PARTICIPANT(S) TO THE FULLEST EXTENT PERMITTED BY LAW INCLUDING CRIMINAL PROSECUTION**.
* Limitation of Liability: By participating, you agree to release and hold harmless Organizer and its subsidiaries, affiliates, advertising and promotion agencies, partners, representatives, agents, successors, assigns, employees, officers, and directors from any liability, illness, injury, death, loss, litigation, claim, or damage that may occur, directly or indirectly, whether caused by negligence or not, from: (i) such entrant’s participation in the Project and/or his/her acceptance, possession, use, or misuse of any prize or any portion thereof; (ii) technical failures of any kind, including but not limited to the malfunction of any computer, cable, network, hardware, or software, or other mechanical equipment; (iii) the unavailability or inaccessibility of any transmissions, telephone, or Internet service; (iv) unauthorized human intervention in any part of the entry process or the Promotion; (v) electronic or human error in the administration of the Promotion or the processing of entries
* ARBITRATION and WAIVER OF CERTAIN DAMAGES: As a condition of participating in this Project, participants agree that;
(a) Participant hereby waives all rights to claim, punitive, incidental, consequential or any other indirect damages, nor obtain awards thereto.
(b) any and all claims, judgments, and awards shall be limited to actual out-of-pocket costs incurred including costs associated with entering the Project, but in no event shall any award include legal fees. Disputes arising from this Project, or any matter arising therefrom, whether direct or indirect, will be determined according to the laws of UAE/PANAMA at the choice of the Organizer, without giving effect to any choice or conflict of law provision or rule (whether of the UAE/PANAMA Laws or any other jurisdiction). Any legal suit, action or proceeding arising out of or related to the Project shall be instituted exclusively in the courts of UAE/PANAMA, at the choice of the Organizer ,although the Organiser retains the right to bring any suit, action or proceeding in any other relevant jurisdiction.
# How to become a Polygen Ambassador
Join our Ambassador Team!
Polygen Ambassador Program Polygen is the Community’s Launchpad, the first truly decentralized platform where projects are free to innovate, experiment and launch their ventures with no gatekeepers. For us to fully reach our goal of becoming “The Community’s Launchpad”, we want to invite you to be part of this journey to help us grow worldwide!
Join us on this exciting mission to help us build a better future for launchpads starting today. Become a Polygen Ambassador right now and start earning rewards!
#### **How to become an ambassador?**
1. [Join Discord](https://discord.gg/MgRh5xM26r)
2. [Follow our socials](https://linktr.ee/polygenlaunchpad)
3. [Understand the tasks. ](/polygen-ambassador-program/ambassador-tasks)
4. [Complete Quests](https://polygen.crew3.xyz/questboard)
#### Why Become an Ambassador?
* Help build a strong community
* Earn Rewards.
* Receive tokens for completing specific tasks.
* Every quarter we’ll announce Top 3 ambassadors who will earn even more rewards.
* Polygen Extended team - be part of a larger community of enthusiasts and become a key contributor to the polygen foundation and ecosystem.
* Get a sneak peek - get first-hand updates and give first-hand feedback to devs.
* Gain real-world experience and build a name for yourself. Improve your skills and gain notable experience to push your career to new heights
#### Who is eligible to become an ambassador?
You’re a blockchain enthusiast, a leader, an influencer, or an expert.
You’re passionate about crypto and launchpads and care about building a strong and long-lasting community for projects.
You are an existing community leader and have the capability to promote Polygen within your group You are a marketing and content creator.
You love building content and have out-of-the-box ideas. You are a student interested in blockchain, and you want to gain hands-on knowledge of crypto markets and the blockchain space. Even if you are not crypto-savvy, you can still become a Polygen Ambassador. Apply and share with us more details on why you care about Polygen.
#### What is expected of you?
There’s no one-size-fits-all to how to be a Polygen Ambassador, but here are some examples:
* Promote Polygen through meetups and AMAs. These meetups can be structured to be both technical and non-technical, so all can participate.
* Create compelling content. As the Polygen community grows, we’ll have a need for blog posts, documents, and other content translated into a number of languages.
* Amplify Polygen Events and Announcements.
* Go global by helping us manage our online communities in various languages and on various channels (Kakao, Telegram, WeChat, etc.)
* Conduct regular AMAs and Meetups, bring new people to the Polygen community. Complete one-off tasks like translating blog posts, create cool swag and virtual stickers, and help build out our website among other things. Of course there are plenty of rewards to win!
# Ambassador Tasks
Read below to understand what tasks you need to do to win rewards - and where to upload your work.
Below are the tasks that Ambassadors can currently complete:
[Join the Quest board](https://polygen.crew3.xyz/questboard) to start completing tasks.
| Task | Description | Reward |
| ------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| Polygen Top Ambassadors | 1 Top Polygen ambassador selected per 3 months.
This ambassador has been pushing Polygen in all the right places, gotten the most engagement and brought more users to our channels.
| 1000USD in PGEN |
| Polygen Top Mods | 3 Polygen Ambassadors selected as the best MODERATORS of their Polygen community channels.
This includes; Discord, Telegram, Twitter.
| -1st 500 USD in PGEN
-2nd 200 USD in PGEN
-3rd 100 USD in PGEN
|
| Polygen Regional Manager | Grow a social media channel in a different region/ language and we will reward you for your efforts when it reaches 5000 people. | -$1000 in PGEN for first 5000 users
-$250 in PGEN for each following 5000 users.
|
| Polygen Meetup Pro | Host a meetup with at least 15 attendees.
This can be virtual or in-person and Polygen should be notified of the event prior to it.
You will be rewarded based on the amount of attendees you bring in.
You must video/record the event and send a link to & add to the quest in Crew 3.
| -15 - 25 attendees: $200 PGEN
-25-50 attendees
$350 PGEN
-50-75 attendees $500 PGEN
-75-100 attendees $600 PGEN
-100+ attendees $800 PGEN
|
| Make a Video | Create a video about the Polygen product and what you like about it- 30secs- 1 minute long.
Channel must have at least 2000 followers/ subscribers to be eligible \[see t\&c's ]
| $100 in PGEN |
# Polygen Ambassador Program T\&C's.
**Campaign: POLYGEN- AMBASSADOR PROGRAM**
**WEBSITE:** polygen.io
**Period:** From the time you agree to enter into this Campaign till the date either of the parties decides to terminate at their own will (Dates extendable by the Organiser)
**Organiser:** *POLYGEN (POLY), POLYGEN INC., Panama*
**Draw date:** As detailed in the website Crew 3.
**Objective:** The Campaign is aimed at increasing audience by bringing in Ambassadors, who would advocate for the Organizer to increase users, community engagement and brand visibility, worldwide. In turn the Ambassadors earn bounties and rewards by completing the tasks assigned to the Ambassadors.
**1. Eligibility:**
Open to any member of the public who agrees to be become an Ambassador by participating in the Campaign by joining the discord. The intended participant also need to enter their personal details in the discord form (Form)as available on the “Website” during the Period, and :
* is aged 18 or older at the time of entry or is of such legal age as required in the country that you are a resident of.
* Filling and filing in the Form does not guarantee the participant (“Participant/Applicant/You”) a reward. You will have to go through the page with tasks info and successfully complete the task as required on the task pod.
* Campaign is subject to all applicable federal, state and local laws and regulations and is void where prohibited by law.
**2. Agreement to Terms & Conditions:**
By participating in the Campaign, participants fully and unconditionally agree to and accepts these Terms & Conditions and the decisions of the Organiser, which are final and binding in all matters related to the Campaign.
**3. To Enter:**
* Intended Participant should join the discord channel \[PROVIDE LINK] and fill in the required details as indicated on the Form. The registration details provided will be used as the contact details of the Participant for all purposes.
* By filling in the details the Participant confirm to the Organiser that the data provided could be retained by the Organiser.
* Each Participant must be the rightful owner of the email used for registering. In the event of a dispute as to the identity of a winner, the winner will be deemed to be the person in whose name the e-mail account is linked.
* Participants must provide all the information requested by the Organiser to be eligible to win and claim the prize. All information provided by Participants becomes the property of Organiser.
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# $PGEN Litepaper
Read the Polygen ($PGEN) Litepaper V1.
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# Glossary
**$PGEN** - *Product Feature*:
Our native token that can be used in our DAO, staked for APY, to receive exclusive access, discount at raises and more.
**Activation Period** - *Definition*:
This is the amount of time for which investors stake using our Tiers system. There is no lock period or penalty for pulling out.
**After the Raise** - *Process*:
This is when all the projects begin connecting with their investors. In this time period, investors can exchange their raiseToken for the project token using the redeem feature.
**Auto-Burn** - *Raise parameters / parameters*:
Projects have a unique opportunity to reward early investors even if the targeted raise amount is never reached. In case the target raise amount is not met projects have the option of setting an auto raiseToken burn. This means after the raise period ends all unsold raise tokens are burnt. Thus resulting in the number of project tokens that would be redeemable with the raiseTokens would increase. For example, a project wishes to offer 10000 raiseTokens in exchange for 10000 projectTokens (1:1 ratio). If the raise target amount is not reached (and auto burn is on) and only 5000 raiseTokens were sold, then for every 1 raiseToken would equal 2 project tokens (1:2 ratio).
Refer also to: *raiseToken*
**Auto-Refund** - *Raise parameters / parameters*:
In the case, a raise fails and the project has turned on the auto-refund function, users will be refunded their investment or share of investment. The refund varies between the FLO and Fixed Raise Types.
Example:
**Refer also to:**
**Before the Raise** - *Process*:
Before investors ever get the opportunity to partake in a project's IDO. The project must first set various parameters for their raise.
**Claim** - *Product Feature*:
This occurs within the After the raise process in which project tokens are claimed using raiseTokens.
Refer also to: *Redeem, After the raise*
**During the Raise** - *Process*:
During the raise is when all the fun starts for both the projects and the investors. This is where all the parameters set in the "before the raise" phase come to fruition. It is important to note, that in this period the project tokens aren’t purchased, rather the raiseToken are what investors purchase.
**FLO** - *Product Feature*:
The Fair Launch Offering creates a transparent and fair fundraising process for both projects and investors. It allows investors to buy in at a price they feel a token is worth, ensuring the more tokens a user purchases, the higher the price per token will be.
**FLO powered by Balancer** - *Raise Type*:
A dutch auction style raise powered by tool built by Balancer called ‘Liquidity Bootstrapping Pool‘. Requires Liquidity Seeding.
Refer also to: *LBP*
**FLO powered by Polygen** - *Raise Type*:
A dutch auction style Fair Launch offering ‘FLO’ powered by Rain. No seeding, fully customizable.
**Fund a raise** - *Definition*:
This is the action an investor takes when funding a project using a polygen. This can only be done during a raise.
**Gating** - *Raise parameters / parameters*:
Granting access to holders of a specific token or NFT. Token gating is a way of super-charging an NFT or token, giving ownership of it more meaning. Projects may use this to guarantee only the holders of a specific token or NFT can access to the raise.
**Investors** - *Definition*:
These are the ones who use our platform on the regular. They are the ones who provide the funding for the "Projects"
**KYC** - *Raise parameters / parameters*:
The project can determine whether the participants of the raise must KYC. “Know Your Customer” helps projects identify their customers and ensure they are in fact real and not bots.
**LBP** - *Product Feature*:
Balancers' Liquidity Bootstrapping Pool (LBP): Integrating Balancers' LBP protocol into our FLO model, Polygen can offer a flexible approach to IDOs in which projects determine the raise period, token weights, token limits, and ultimately determine their price decay rate in a dutch auction fashion.
**Liquidity pool** - *Definition*:
Liquidity pools are similar to traditional order book exchanges in that they both facilitate trading of securities, but there are significant differences in the mechanisms used. Liquidity pools automate participation and administrative functions that would require a market maker in traditional financial markets to spend significant time and resources on, making it easier for investors to trade.
**Liquidity seeding** - *Product Feature*:
A unique liquidity seed funding mechanism can then be used by the community to effectively underwrite a project by providing seed liquidity. Thus the community is the deciding force behind a project’s success or failure with fundraising on the platform. The community effectively “votes’’ by providing liquidity to projects they think are the most promising by providing seed funding for a project to start their raise.
**Lock Up Period** - *Definition*:
This is the amount of time your tokens are unable to be moved after staking.
**Max purchase amount** - *Raise parameters / parameters*:
Since Polygen is striving to be a fair and accessible launchpad, we require all projects to set a max purchase amount when using the fixed price raise mechanism to prevent whales from purchasing the supply of tokens.
**Max purchase amount multiplier** - *Raise parameters / parameters*:
Polygen is requiring that projects increase the number of tokens that can be purchased for our tier members holding $PGEN.
**No trading** - *Raise parameters / parameters*:
Within in the raise period, the start and end, no raiseToken can be traded in or with others. Once the investor has purchased their raiseToken they must hold on to them till the raise period ends.
**Open-trading** - *Raise parameters / parameters*:
Within in the raise period, the start and end, raiseToken can be traded in or with others. Once the investor has purchased their raiseToken they're free to move the token. This is an unlikely event.
**Polygen Fixed Price** - *Raise Type*:
A fixed price raise powered by Polygen. RaiseToken stays at the same price throughout the raise period.
**Price discount** - *Raise parameters / parameters*:
Polygen is offering an optional feature in which projects are able to reward PGEN holders a discounted price for the raiseToken while using FLO.
**Private Raise** - *Raise Round*:
Similar to a whitelist. The private raise is in which the project uses Polygen to offer an exclusive raise for a special selection of investors
**Project** - *Definition*:
Projects are the ones who raise on Poylgen. These are the ones who are in search of funding.
**Project token** - *Definition*:
Project tokens are that which a "project" owns and sells. It is what is redeemed with the "raiseToken,"
**Public Raise** - *Raise Round*:
This is the round in which a project accesses the general public, and it has no whitelist or preferential treatment toward an exclusive list of investors.
**Purchase Limit** - *Raise parameters / parameters*:
When a raise has a limit on the number of tokens a wallet may purchase, this is to ensure no whales purchase the entire supply.
**Raise parameters / parameters** - *Product Feature*:
These are the settings and rules that are made by the project using Polygen's backend at the "Before the raise" period. They are the ones that set the functions.
Refer also to: *Before the raise*
**Raise period** - *Definition*:
Projects are able to customize the start and end times of the IDO. This part is almost self-explanatory, at a specific time and date the raise opens and closes, and within the raise period is the time in which investors can purchase the raiseTokens.
**Raise Round** - *Product Category*:
Raise rounds are dependent on the project. This is in which funding round the project is currently in.
Example: *Private Raise, Seed Raise, Public Raise*
**Raise Target** - *Raise parameters / parameters*:
This is the target amount in USDC for a raise using the FLO mechanism.
**Raise Type** - *Product Category*:
Raise types are the mechanisms associated with the smart contracts on the Polygen platform.
Example: *Fixed price by Polygen, FLO powered by Polygen, FLO powered by Balancer*
**raiseToken** - *Product Feature*:
raiseTokens are sold to users as an "I owe you" that users purchase during a raise of a specific project. After the raise, if the project collects enough funding (meets the raise target or surpasses it), they will be able to trade in their raiseTokens for the tokens of the specific project. In essence, raiseTokens are burnt in exchange for project tokens after the raise is a success.
**Redeem** - *Product Feature*:
This occurs after the raise period. Redeeming is when investors are able to collect their share of project tokens in exchange for their purchased raiseToken.
**Refer also to:** *Claim, After the raise*
**Seed a project** - *Definition*:
This is the process in which investors provide the initial funding for a project. In Polygen's case we call this Liquidity seeding.
Refer also to: *Seed round*
**Seed Raise** - *Raise Round*:
This is the round in which the project is looking for it's initial liqudity. This is the round in which the seedToken comes into action.
**seedToken** - *Product Feature*:
Before any project can enter a raise, projects need to source liquidity. Projects can either provide their own liquidity or source the liquidity from the Polygen community. That is why Polygen has introduced the seed token. Seed Tokens are distributed to investors who provide the initial liquidity for a project. If the seed round meets the initial liquidity needed, investors will be able to exchange their seed tokens for raiseTokens.
**Superstaking** - *Product Feature*:
All PGEN holders can benefit from community super staking, but what is it?
Community super staking comprises multiple staking pools. These pools are built using ‘demand pegged algorithms’ which means rather than locking in your tokens for JUST a time period i.e 60 days, you stake over time until a goal is reached i.e the price of a project token is $1. After initial lock up, you can claim rewards and un-stake at any time.
**Target raise amount** - *Raise parameters / parameters*:
This is what the project's minimum targeted amount in USDC that they wish to raise. If this is not met then they wish not to raise any more.
**The Raise** - *Definition*:
Projects who are in the midst of attempting to raise capital using the polygen platform.
Refer also to: *Fund a raise, process*
**Time based raise** - *Raise parameters / parameters*:
Used during a Fixed Raise, this identifies the time period in which the raise is live.
# FAQ's
FAQ's from our Community.
### **What is Polygen?**
Polygen is the Community’s Launchpad, the first truly decentralized launchpad where projects are free to innovate, experiment and launch their project with no gatekeepers, no whitelist and no whales. Gatekeepers restrict innovation and are contrary to everything crypto is about – being decentralized and permissionless. There has been almost no innovation in launchpads during the years, so projects need to compromise a lot to be able to feature on those centeralized/traditional launchpads, yet all other sectors of the crypto space have evolved so mcuh and are able to offer much more to their users; Essentialy, what Uniswap did for tokens, we are doing for launchpads.
### **As a project, why use the Polygen launchpad?**
#### *No Gatekeeping and permissionless approach*
On Polygen, any project can raise without barriers to entry such as minimum purchase amount and project size- which other launchpads impose, this lets projects freely experiment and innovate.
#### *Complete Flexibility*
Projects have complete freedom to decide how much they want to raise, what auction mechanism they want to use, how they do their tiering, and they can operate any project round (seed, private, public), or connect rounds. Projects are able to raise more funds than they have originally planned as there is no upper limit.
#### *Launch token pools on the Polygon (Matic) chain*
By operating on the Polygon (Matic) chain, the most significant benefit is that IDOs will enjoy cost effective, low fees and improved scalability compared to larger gas fees and network congestion that’s currently present on the Ethereum Mainnet. Through this, projects will essentially spend less on token distribution and gas fees and IDO participants will in turn also spend less on redeeming their earnings.
Polygon also aims at facilitating the infinite growth of the Ethereum blockchain without any form of scalability issues while also acting as a bridge between various chains for ease of access by users.
#### *Long-term community*
We aim to be “The Community’s launchpad”. Most launchpad communities exist solely to “pump and dump” projects. They are not loyal to the project and move on after the project’s IDO. Polygen allows the community to participate from day one in a project they like. The community can provide seed liquidity and invest by funding as soon as they have passed KYC. The Project builds a community that is interested in the long term success of the project and loyal.
We have a strong social presence (we have Medium, Telegram and Twitter) and will do our best to promote projects in an organic fashion to help them reach their target audience.
### As an investor, why use the Polygen launchpad?
#### *Access to many projects*
As we have no gatekeeping process and barriers to entry for projects, the Polygen community will have access to far more raises than other launchpads. This gives our Community a wide variety of projects to invest in.
***Early access to projects***
Through our launchpad, anybody can invest in a project at an early stage (where previously only angel and venture capitalists got the opportunity to). This has indeed created a fair and level playing field for a person to partake in pre-sales and support a project from an early stage.
### **Is Polygen native to only Polygon?**
For the moment, yes, but we aim to become a multi-chain platform providing access to other platforms for projects to launch.
### **What partnerships have Polygen formed?**
We are proud to state that as of 2 November 2021, we have closed our investment round and have raised $2.3 Million. Our lead investor is SL2 Capital, followed by 18 Ventures, Twin Apex Capital, AU21, Polygon Syndicate, ZBS Capital and Pluto Digital. Our other investors are Iconomy, Insignius Capital, NetZero Capital, Maven Capital, Woodstock, Sky Man Ventures, Lumos Labs, Moonboots Capital, Girnas Capital, Extra Watts, LD Ventures, LucidBlue Ventures, Aniket Jindal, Anderson Tan, GSR and Amplio Capital. You can read the full press release [here](https://medium.com/polygen-ecosystem/polygen-raises-2-3-million-through-a-fundraising-investment-round-10cfdc84396d).
### **What is the PGEN token utility?**
$PGEN is Polygen’s native utility token which essentially unlocks a membership tier to various project raises, seed pools, DAO voting power & more. If a user has larger PGEN holdings, they get access to project liquidity pool seeding, further, holding PGEN allows users to access rewards across the entire ecosystem.
The goal of introducing $PGEN is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on the Polygen platform, and it is not, and not intended to be, a medium of exchange accepted by the public (or a section of the public) as payment for goods or services or for the discharge of a debt; nor is it designed or intended to be used by any person as payment for any goods or services whatsoever that are not exclusively provided by the issuer.
### **How does the work on Polygen?**
We use a Fair Launch Offering (FLO) process to encourage a transparent fundraising process with a fair distribution of tokens. To do this Polygen has[ integrated Balancer. ](https://medium.com/polygen-ecosystem/balancer-liquidity-bootstrapping-pool-101-80d2a774bf06)
**NEW: We also just added a new**[ **Fixed Raise option.**](/more-info/faqs/polygen-fixed-raise-faq)
This unique approach is **very different** from the traditional launchpad whitelist/lottery with guaranteed allocation. The Project will determine how long the fundraise will take place (this may be 48 or 72 hours for example) The price of the token starts high and drops based on a pre-configured price decay curve that will react to buying pressure from the auction participants.
During this period, anyone can buy into or sell out of the fundraise auction freely at any time, so price truly regulates itself. Please note, there is no minimum or maximum allocation. Polygon community participants choose how much they want to buy or sell. Another reason Polygen uses this fundraise approach is that whales do not unduly affect the price of a token in a raise.
## Why does Polygen have Raise Tokens (rTKN)?
For one simple reason — with raise tokens (rTKN), Polygen can offer much more to the Community!
For example, projects can offer more than one token to be claimed or they can offer different types of assets (e.g. NFTs). No other launchpad offers this! It is Polygen’s permissionless flexibility that makes us the future of launchpads.
The Raise Token creates an opportunity between the raise and the distribution of project tokens. **This motivates us to keep creating new flexible tools to utilize in that time period.**
*Raise Token is an essential part of the community seeding process.*
**How does the raise token enable seeding, why not just sell the token?**
Polygen allows **anyone** to post a raise with USDC as the collateral. (or whatever the collateral token is, which can be any ERC-20 token like USDT, ETH, Matic and even PGEN which can add another layer of utility to PGEN token!)
**The raise token protects Polygen users.**
If we enabled “Bring Your Own” (BYO) raise tokens then the seeders could be rugged ( scammed ) by the raise.
For example, the raise creator could put 1% of their **BYO token into the raise,** ask for $1MM seed, then **sell the remaining 99% of the token into the raise after it starts,** **draining most of the USDC seed in the process**.
The raise would ultimately fail and **auto-trigger our refund function.** However in this case, there would be little to no USDC left in the pool so the refund would fail — The creator of BYO token would have effectively stolen funds from the seeders.
**Even if the raise fails to hit the target there will always be enough USDC in the pool to cover the seed costs**. Seed funds are a critical part of Polygen FLO’s — and because the seeder doesn’t benefit from the raise in any way (other than the optional seed fee paid for a successful raise) we need to keep them safe.
## What is my raise token rTKN worth?
Your raise token is worth its **claim power** (the % share you hold of all rTKN) on all future rewards the project behind the raise is offering. The raise token is NOT worth the value of the money raised. The raise token is frozen, cannot be transferred or traded, so it cannot have a price. The money raised is now owned by the project, who must now do something with it to provide you with future value., be that a token, NFT or the next big thing!
**Projects must be very clear about what future value they aim to provide.**
Just like traditional platforms such as KickStarter, GoFundMe, IndieGoGo, etc. the raise should be for something specific.
You GIVE money to the project and they CREATE something you want in the future. If you want to look at it objectively: The value of the raise token is not about what you put in, but the value you expect to get out of it.
**NB:** Also just like other platforms, the project may be wildly successful beyond your expectations or completely fail or even be a scam. In a decentralized context where **anyone** can post a raise, you must be extra vigilant and do your own research before you put money into anything.
For example, the PGEN token is associated with the platform itself (if you own rPGEN you experienced our work yourself, so you know the project is real) and could feed into potential future governance (e.g. a DAO that can vote and help promote specific raises), as well as share in future revenue (such as “tips” from users buying into raises). These are currently ideas that we hope to realize in the future.
Your **claim power** is calculated **only from the raise tokens that were actually sold** in the raise. All unsold raise tokens are burned when the raise completes, regardless of whether it was a success or fail.
**Technical notes:** For projects that use the escrow contracts to distribute rewards:
Total tokens in escrow / total raise tokens sold = 1 raise token’s claim power.
Projects **are not limited to using** the escrow contracts. For example it would be relatively easy for a project to offer exclusive NFT mints to raise token holders that regular token holders are not eligible for. Holding the raise token is a hybrid between a claim on future rewards and a POAP style proof of participation in the raise event that can be referenced forever.
## How much did I pay per project token during a FLO?
### Calculation 1 — What is the value of 1 rTKN:
### Amount of TKN in the pool / rTKN sold
***Example below as per the PGEN sale on Polygen:***
4,000,000 (TKN in the pool)/568,990 (rTKN sold) = 7.03 PGEN
1 rPGEN = 7.03 PGEN
**Calculation 2 — How many TKNs will I receive?**
***Example below as per the PGEN sale on Polygen:***
***Example 1:***
If Thao paid 500 USDC at a spot price of $2, that would give her 250 rPGEN
We multiply Thao’s 250 rPGEN by 7.03
\= 1757.5 which is the total number of Thao’s PGEN
***Example 2***
If Kareem paid $500 at a spot price of $0.40, that would give him 1250 rPGEN
We multiply Kareem’s 1250 rPGEN by 7.03
\= 8787.5 which is the total number of Kareem’s PGEN
**Calculation 3 — How much did I pay per TKN**
***Example below as per the PGEN sale on Polygen:***
So the price of each PGEN for Thao: 500 USDC/1757.5 = $0.284/PGEN
So the price of each PGEN for Kareem: 500 USDC/8787.5 = $0.056/PGEN
***Kareem actually came out with a better price than Thao***!
### How does the raise pricing work?
{% hint style="warning" %}
Warning this is highly technical! But we think you need to know it — we are working on an easy-to-understand version.
{% endhint %}
*The main thing we’re trying to achieve is a high gini-coefficient.*
The more widely and evenly distributed a token is for any crypto project, the better. More people with real skin in the game means stronger markets and community.
More decentralization means a more resourceful and resilient platform.
More real stakeholders make governance attacks harder Less inequality at launch is just fairer, and launch is both the most difficult and important (or only) time to get token distribution widely spread.
Heavily centralized token launches tend to only increase quality over time. Polygen currently uses Balancer Liquidity Bootstrapping Pools (LBP) under the hood.
In the future, we will be offering more raise types, but this is a relatively battle-tested mechanism in the industry to achieve wide distributions.
The LBP is like a dutch auction in that the raised tokens are for sale, start at a high price and decrease their price over time, but is **NOT exactly a dutch auction**. Balancer, is foremost a trading platform where price goes up when a token is purchased and drops when it is sold. It makes sense that their LBP is also based on active trading.
They have a neat reweighting algorithm that allows prices of two tokens to change without any trades happening, this is what powers the LBP.
Internally we refer to the Balancer style raise as “flappy raise”… the price drops until somebody buys and pushes the price up… then it starts to drop again. If somebody sells it drops even faster. The “flappy-ness” is configured by the raise creator, they set how steeply the price drops and how quickly each buy pushes it back up again. The “start high” strategy stops bots from scooping up all the cheap tokens in the first 5 seconds. It only takes one or two whale bots to completely destroy a token distribution.
The constant downward pressure on the token price stops the price from getting “stuck” due to many people buying and pushing the price too high. If this didn’t exist then the only way the price could come down to let in new participants after a spike would be if existing buyers sold the token. Why would anybody sell a token they just bought mid-raise? (other than to speculate by trying to take advantage).
However, this is NOT exactly a dutch auction. In a “real” dutch auction, everyone gets the same price, which is not how Balancer works. Whatever price you buy at, that’s the price you get. The best strategy is to be patient for a good entry point and buy the dips. We hope this makes sense, and we will be providing more and more learning resources for our users.
But at the end of the day, this is a new, exciting product that you can learn to use in the best way that fits you.
### **Do you have an ambassador program? Where and how can I join?**
We currently don’t have an ambassador program, but it’s something we would like to create based on community feedback in the not so far future. Our first implementation of this will be through the BETA test program that we commenced in October and we will continue to expand this in due course of time.
### **How is the raise time calculated?**
We calculate raise time in blocks, for example, if the raise is predicted to last 48 hours, each block time would be 2.3 seconds. However, the end time is an approximation, the blocks may fill quicker, thus speeding up the raise period.
### **What happens to rTKN at the end of a sale?**
When the raise completes the first thing that happens is all raise tokens (rTKN) unsold are burned. This could vary from 1% to 99% of the raise tokens. The raise tokens remaining are recalibrated so that the holders of rtkn get a proportional share of the rewards from the raise.
### **What is Balancer's Liquidity Bootstrapping pool?**
The main use case for Balancer’s Liquidity Bootstrapping Pools is to give Projects the ability to **launch a token with low capital investment.** This is achieved by setting up a **two-token pool comprised of a collateral token and the project’s native token.** What we appreciate about Balancer’s LBP system is that you can actually [**control the weight of each asset** ](https://docs.balancer.fi/concepts/math/weighted-math)in the **pool** as well as the **transaction fee which is charged by the pool.** [**More info here**](https://medium.com/polygen-ecosystem/balancer-liquidity-bootstrapping-pool-101-80d2a774bf06)
### [**How to participate in a Polygen IDO?**](broken://pages/fowT9w4l2zJASrORFHuO)
To participate in an IDO please follow the steps below: Go to [www.polygen.io](http://www.polygen.io) and click on “Launch App”. Connect your wallet (Metamask) and select the Polygon (Matic) Network. If you don’t have Polygon ( Matic) Network already, follow these instructions:
1. Navigate to Settings->Network.
2. Click “ Add network”
3. Key in the relevant details:
* Matic Mainnet Network Name: Matic Mainnet
* New RPC URL: ;
* ChainID: 137
* Symbol: MATIC
* Block Explorer URL: ;
4\. Once you’re on Polygon (Matic) Network complete the KYC process (Please see this guide for the KYC process).
5\. Once your KYC is approved, you can take part in IDOs listed on Polygen.
Select an IDO of your choice (please do your due diligence about a project before investing using the metadata provided) and take part in liquidity pool seeding and raises to earn rewards.[ More info here.](broken://pages/fowT9w4l2zJASrORFHuO)
### **Why do I need to complete KYC?**
“KYC on a decentralised platform? What?!” We get it, but this is a necessary step that helps us to i) be compliant and ii) gives anyone (apart from restricted countries; USA and China) access to Polygen. No Whitelist, No Lotteries. This means there is no need for participants in IDO’s to be allocated to whitelist, everyone with a little bit of MATIC for gas fees, can join in.
### **How do I complete KYC?**
Please note that you will only have to complete KYC once on our platform **if it is a requrement of the project** and the KYC process has two components — ID upload and ‘liveness’ which is processed by Synaps. By completing KYC, you’ll automatically be verified to take part in future IDO’s. Below, you will find the steps to complete KYC on our site. At the moment it is desktop only.
By doing KYC, you automatically get access to all of our projects.
Below are the brief steps to do your KYC. For a comprehensive guide, please refer to this [document.](/getting-started/how-to-kyc)
**Step 1:** Go to our website and look for the “Launch App” button or simply go to app.polygen.io
**Step 2:** Connect your MetaMask Wallet
**Step 3:** Start KYC verification
**Step 4:** Complete Liveness and upload ID document (Passport, National ID, Drivers license, Residence permit)
**Step 5:** Click on Submit session
**Step 6:** You will have to pay the gas fees and click on confirm when prompted.
**Step 7:** KYC Submitted!
**Step 8:** KYC Approved!
**Note:** Residents of the United States of America and China will not be able to complete their KYC on our platform or take part in IDOs.
### **What if a raise fails, do I get a refund?**
If a project fails, then you will be able to claim back your seed and raise token for more or less tokens than swapped originally. This is because you are redeeming for the average swap value, not the value you originally swapped at. For example you bought 1000 rtkn at $0.05 ($50) but the average rtkn was $0.04 ($40), you will be refunded the average amount with a potential loss of $10. Alternatively you would make a profit of $5 if 1000 rtkn was bought at 0.035 and average token price was 0.04. This is because trading is open during the raise and participants can take profits from the trading opportunities that occure during the raise, and that actually shows the importance of having a good buying strategy during raises.
This protects everyone in the case that the raised amount is too low for the project owner to execute their roadmap and on the other hand incentivises token purchases when the price is lower than average, if a raise is close to failing, thus making it more likely to succeed.
### Where can I buy PGEN and what is its contract address?
$PGEN is available on both Polygon Network and ETH Mainnet, and you can purchase them QuickSwap & UniSwap
**MATIC contract address:** 0x01d35cbC2070a3B76693Ce2b6364Eae24eb88591\
**MATIC Dextools:**
**ERC-20 contract address:** 0xf6719e1a8fcbb1b9c290019e37e004966a8916c9\
**ERC-20 Dextools:**
**PGEN token distributions**\
1\. Sale tokens: 42:33%\
2\. Treasury: 23.67%\
3\. Team: 10%\
4\. Ecosystem: 9.5%\
5\. Marketing: 9.5% \
6\. Advisors: 5%\
For more details please visit our [Whitepaper](https://3846032443-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FMYYdUaQHZfFn49GiZR2b%2Fuploads%2FjEk3iYbxV6TfxjxGc6hk%2FPolygen%20PGEN%20Litepaper%20.pdf?alt=media\&token=a997339d-9305-4e1d-9dee-2ca6e3205668).
### Is there a mobile app for Polygen?
At the moment, Polygen [dapp](https://app.polygen.io) is only available on desktop browsers, and only desktop users are able to participate in raises, as Polygen dapp is still in Beta phase. However in near future it will be available for mobile users as well.
### How does Superstaking work?
PGEN Super staking pool is a staking pool 2.0 provided by [Dafi Protocol](https://www.dafiprotocol.io) since our partnership (you can read the full article [here](https://medium.com/polygen-ecosystem/dafi-x-polygen-partnership-6f4c67acf3db)), where PGEN holders can stake their tokens and get rewards based on growth of token's demand and Polygen's ecosystem. Super staking comprises multiple staking pools. These pools are built using ‘demand pegged algorithms’ which means **rather than locking in your tokens for JUST a time period** i.e 60 days, you stake over time until a **goal is reached i.e the price of a project token is $1.** After initial lock up, you can claim rewards and un-stake at any time.
Our favorite feature of PGEN super staking is that long-term HODLers earn exit fees from other users, and their rewards multiply as the price of PGEN rises, but there are so much more.
* A 30 day **initial** lock-up period for staking PGEN on Polygon via Super Staking
* PGEN rewards can self-multiply as the network demand and market value fluctuates, which is represented as “potential” rewards
* When a user exits the Super Staking pool, 10% of his/her rewards are distributed among those users who remain staking in it. PGEN hodlers are better incentivized for the time they stay committed to supporting PGEN.
* Every 24 hours the $PGEN Super Staking platform displays the top five users that have staked the largest amount of $PGEN
* An all-in-one tab within the platform to check $PGEN price, supply metrics, and social media updates will be live soon.
**Pool details**:
* **Staked Token**: PGEN
* **Initial lock up:** 30 days ( post lock up you can un-stake and claim rewards at any time)
* **Pool open**: 12 months
* **Starting APY:** *Up* to 500%
* **Start date:** Saturday 18 Dec
* **Start Time:** 2pm UTC
### Is the price of project's tokens higher in Polygen than other launchpads?
That is simply not the case, the final price of a token is different for each participant and depends on their rTKN price and how much of the total rTKNs are sold during the raise. The fact is participants also have the chance to get a lower price than other launchpads if they have a good buying strategy of course. That's why strategies people use in traditional launchpads doesn’t work in polygen, being early and FOMO buying doesn't alwyas have the best outcome!
### **How does DAO and voting work?**
Polygen's uses Snapshot as the platform for its DAO and votings. Polygen is a decentralized platform so users can put any suggestion up for vote and the community will make the decision about it.
\
Voting power will be based on PGEN (any of the PGEN and PGEN LP tokens on both Polygon Network and ETH Mainnet), however, depending on the type of the proposal (Community-backed projects proposals, Development proposals and ...) the strategy will vary, some proposals need to be based on the amount of PGEN as the determining factor of voting power and some need to be based on 1 Person (wallet) = 1 Vote as the voting strategy!
\
You should notice that only the PGEN and/or LP tokens that you have in your wallet before the proposal goes live will get you voting power. Meaning if you buy or transfer any amount of PGEN or PGEN LP tokens to your wallet after the proposal goes live, you would get no voting power for those tokens. This will ensure that we won’t have multi-voting, meaning people vote with one wallet and then transfer those tokens to another wallet address and vote again.\
You can find the link to our DAO [here](https://snapshot.org/#/polygendao.eth).
# Polygen Fixed Raise FAQ
Frequently asked questions about Polygen Fixed Raise.
### How is Polygen Fixed Raise different from Polygen’s FLO?
During a FLO the price of the raiseToken starts at a high price and decays over time. In Polygen’s Fixed Price– the price of raiseToken remains the same.
### What variables can a project choose and how will it affect me?
* KYC Whitelist PGEN holder (optional to gate the raise only for PGEN holders with certain amount - this is separate from tiers)
* raiseToken (rTKN) variables (name, symbol, total supply, price)
* Raise Target (determines the success or failure of the raise)
* Individual Max Purchase Amount (max purchase amount per wallet)
### Is there a Whitelist?
It is optional for projects to choose and gate their raises with a whitelist, If not selected, anyone can take part and there is no minimum buy-in. If selected then only those wallet addresses that are whitelisted can take part.
Really, anyone can take part? If the sale is public, then anyone can take part in Polygen’s Fixed Price.
### What is the individual max purchase amount?
It is the ‘individual purchase limit’ we set for users, the maximum amount of tokens they can buy during a raise. This protects against whales swooping in and buying up the lot.
### What is a raiseToken?
raiseToken is an event-based token we use for raises. Instead of buying and selling project tokens, users instead buy and sell raiseToken and then can redeem them for the actual tokens.
### How do I work out the amount of tokens I will get?
Each raise token is equal to one project token: **1:1**
### How do I take part in a fixed raise?
Please see the full user [guide here](https://medium.com/polygen-ecosystem/step-by-step-guide-to-participating-in-a-polygen-fixed-price-raise-23f458e3a95d)
### Do I need to KYC?
Only if KYC is required for the raise you would need to complete your KYC.
### How do I get USDC ( Polygon)?
You can buy USDC (Polygon) directly from exchanges and DEXes and payment gateways including; Binance, OKX & Moonpay.
Make sure to set up Polygon Network in your MetaMask first!
{% embed url="" %}
Set up Polygon in your MetaMask
{% endembed %}
### Do I need MATIC too?
Yes, make sure to have enough MATIC to cover transaction fees as every transaction is on chain.
### Where can I get support about Polygen’s Fixed Price ?
Head to our[ multilingual support desk ](https://discord.com/channels/913320567061491742/913338754201157642)in Discord.
# Technical Documentation
A high level technical overview of what Polygen is and how it works. We support fair value capture for intangible or physical assets in a permissionless way in any decentralised environment.
# Overview
**The basic process for Polygen is:**
1. The trust and pools are established with a freshly minted project/event token and some starting capital for trading.
2. The liquidity bootstrapping pool is used to distribute the freshly minted tokens.
3. The pool is closed Some of the raised funds are forwarded to the minted token contract.
4. The creator receives the bulk of the raised funds Some fees are distributed to other stakeholders.
5. Any undistributed tokens are burned and all distributed tokens are frozen.
6. **The creator creates and distributes rewards over time in many ways:**
1. Creating claimable NFTs and other perks that require claimants to hold a minimum balance of the distributed token.
2. Sending erc20 tokens to the distributed token contract that require claimants to burn their tokens to redeem.
3. Hosting real world exclusive events etc. that require claimants to hold a minimum balance of the distributed token to participate.
4. The process requires a high degree of trust between the creator and their fans as there is no on-chain mechanism to enforce delivery of any perks.
5. The token minting, distribution, burning is all trustless as the deployed Trust contract handles construction and ownership of the other contracts.
6. As each Trust is dedicated to a specific project or event there are no admin or upgrade functions.
7. Future versions of Trust will simply be picked up by new projects and events as they arise.
8. The Trust has native integration with the Tier membership system included as a git submodule.
9. Any account that does not have a minimum membership status cannot receive the distributed token and so cannot participate.
10. This allows additional requirements to be placed on the participants by the deployer of the trust.
# A note on regulatory compliance
Any legal or regulatory requirements such as KYC/AML or securities law are the responsibility of the stakeholders.
**The stakeholders are:**
* The deployer of the Trust contract who provides all the initial configuration parameters and pays the gas for deployment.
* The creator who is raising money to create some new value in the world
* The token holders who trade tokens during the distribution phase on the Balancer pool and then hold frozen tokens after the distribution finishes.
* The seeder who provides the initial tokens on the other side of the Balancer trading pool to bootstrap trading.
# Polygen Glossary
Explainers and definitions.
**Seeder**
A contract or address that sends reserve token to the Trust before distribution starts to bootstrap the ability to trade.
After the distribution completes the seeder is refunded their reserve tokens plus an optional seeder fee.
**Reserve token**
The token that exists before the distribution starts and is provided by the seeder to be the other side of the pair in the Balancer pool. This token is expected to be valuable and liquid so that the creator can fund their creation process with it.
**Redeemable token**
The token that is minted by the Trust and distributed by trading during the distribution phase.
The redeemable token is frozen (impossible to transfer) after the distribution phase ends. The redeemable token can be burned for a pro-rata redemption of any erc20 tokens the redeemable token contract itself owns.
**Liquidity Bootstrapping Pool**
**The 'Liquidity Bootstrapping Pool' (LBP)** is a style of AMM developed by Balancer. It simulates a Dutch Auction through Balancer's spot price mechanism as a combination of weight and relative token amounts. Empirical evidence from the [PERP token distribution](/getting-started/connecting-metamask-wallet/how-to-add-polygon-matic-network-to-metamask) indicates this is a decent mechanism to achieve a wider and 'fairer' distribution of tokens than a simple AMM listing.
**Fairness** is hard to define objectively, but for our purposes we want to:
* Minimise scalping, i.e. users buying early with the intent to sell at a higher price to users who want the token utility.
* Maximise the value unlocked by the distribution in terms of the reserve token.
* Mimimise whales, i.e. users who buy a significant percentage of the total token supply with the intent to manipulate the price paid by users who want the token utility.
* Allow for subjective valuation by users who want the token utility.
* Protect the interests of users who want to hodl the token for its utility.
* Avoid economic exploits that allow users to leverage mechanisms provided by other smart contracts to extract value from the pool for themselves (e.g. flash loan style attacks).
* Allow for efficient price discovery.
* Mitigate 'front running' where a user (bot) sends orders in advance of (with higher gas than) another trade when it is visible in the mempool but not yet included in a block, in order to force the other user to pay a higher spot price and then immediately dump on this (almost) guaranteed higher price.
* The [Balancer Whitepaper ](https://balancer.finance/whitepaper/)outlines the formulas and proofs (relevant extracts in the comments in this codebase) used to define spot price in terms of amount and weight of each token in the pool.
* The target/final weights of the distribution phase give a spot price equal to the book value of the token assuming no trades. This means the maximum possible dump of the pool at the lowest possible weight (i.e. 100% of all tokens are dumped) is equal to the configured final valuation.
* The [Balancer documentation](/getting-started/connecting-metamask-wallet/how-to-add-polygon-matic-network-to-metamask) is the best reference for more details on how this works.
**Minimum raise threshold**
The Trust contract has minimum redeem init, creator raise and seeder fee parameters (can both be zero). The distribution is considered successful if the total reserve deposited in the Balancer pool during the distribution phase (in addition to the initial seed) covers all three.
**In the case of a successful raise:** The creator raise will be forwarded to the creator.
The seeder will receive their original seed plus the seed fee minus pool dust.
The redeem init will be forwarded to the RedeemableERC20 contract (can be redeemed via. burns).
**In the case of a failed raise:** The creator gets nothing.
The seeder receives their original seed minus pool dust.
All remaining reserve assets are forwarded to the RedeemableERC20 contract (can be redeemed via. burns)
**Note**: that reserve assets forwarded to the RedeemableERC20 contract are redeemed pro-rata in both cases.
This means that in the case of a failed raise a token holder could redeem their tokens for more or less reserve than they swapped originally, as they will be redeeming for the average swap value, not their swap value.
**This mechanism:**
* Protects everyone in the case that the raised reserve is too low for the creator to do what they wanted.
* Incentivises token purchases when the price is lower than average if a raise is close to failing, thus making it more likely to succeed.
**Maximum raise**
The creator starts the price of tokens high in their own estimation, with the price gradually declining over the distribution. This protects the creator from over-raising and being unable to deliver.
For example, an indie painter can only produce a few thousand $ worth of value in a single painting, if they raise a million $ they aren't suddenly going to paint the Mona Lisa. Raising too much can be just as problematic as raising too little, so we do our best to help creators raise "a lot" while still appropriately sizing all the parameters.
**Stuck AMM**
The traditional approach of simply adding tokens to a pool on Uniswap results in a situation where the price can get 'stuck'. This means that early FOMO causes the first buyers pump the price very high on a single exchange, then nobody else can buy until some of these early buyers then sell tokens back to the AMM (direct spot price drop) or the market (arbitrage opportunity to recover price).
Given that the whole point of distributing tokens is to get them in the hands of fans who should want to HODL them up to and beyond the start of the redemption period, we do NOT want to rely on secondary market selling just to allow more buyers to join.
Put another way, the traditional approach relies on scalpers to achieve smooth price discovery rather than a single pump then price stagnation.
The mitigation is to use a combination of weights and amounts to define the spot price. This allows the weights to be adjusted downwards, lowering the spot price without trades occuring, rewarding later participants who are patient enough to allow the weights to give a better price for the same token supply in the AMM.
**Rewarding later participants rewards patience.** Patient token buyers are more likely to be patient token hodlers. Patient token hodlers are more likely to enjoy and maximise the redemption phase. For example, Uniswap has a fixed weight of 1:1 and relies on arbitrage with external systems to maintain a fair spot price (i.e. Uniswap by definition assumes whatever token quantities are in any given pool are always of equivalent value). Balancer does NOT assume the tokens in a given pool are of equal value, it allows any weighting of either token up to a 50:1 ratio (i.e. the total value of one token is up to 50x more than the other token).
When we can change the weighting of the tokens we can change the spot price without changing the token amounts. The weight curve is defined during the Trust deployment and kicked off during anonStartDistribution. Anyone can call the "update weights gradually" function on the pool, it is a public method, which brings the pool weights back to the predefined curve according to the current block, which brings the spot price down.
This means an arbitrage opportunity against the weights exists and grows each block, where any user can call the weight recalculation function to give themselves a better spot price for the trade they want to make. Ignoring stampedes (many redundant weight updates in the same block) and MEV/front-running (another user positions their trade after the rebalance but before the desired trade), it is always profitable to rebalance the weights if the new spot price is better than the fees of the rebalance. This is because the weights monotonically drift downwards towards the book value floor.
**Overweight pool**
Balancer pools can never exceed a combined weight of 50 as the sum of the weights of the tokens. This is true even during a single operation so Balancer recommend never setting weights at exactly 50 if they need to change. We do need them to change according to the reweighting curve so there is a POOL\_HEADROOM constant (currently 10 \*\* 18 which is "one" for Balancer math). We require that the Trust bootstraps with combined weights equal to or lower than BalancerConstants.MAX\_WEIGHT - Constants.POOL\_HEADROOM.
**Impermanent loss & price dumping**
Impermanent Loss (IL) is a ubiquitous issue in AMMs to be mitigated or at least discussed. In our case, because the Trust enforces that 100% of the freshly minted token is provided as liquidity in the AMM pool, the concept of IL doesn't quite apply. While it is true mathematically that, had the Trust hodled the tokens instead of providing them as liqudity, it would receive more value than putting them on the market, this is nonsensical in practise as hodling 100% of the tokens implies that there is no distribution and therefore no meaningful market!
The worst case scenario is that zero trades occur, or equivalently, 100% of the token supply is dumped back into the pool in the same block that redemptions are unblocked. In the worst case scenario, because the final weights are calculated against the final valuation that covers at leat the seeder, and the excess is forwarded to token holders, even the maximum theoretical token dump is safe for participants (albeit disappointing).
**Pool dust**
Balancer pools cannot be totally shutdown (this has been confirmed by the Balancer team) so the larger of 10^-7 times the final reserve or 10 \*\* 6 absolute units of the reserve will be trapped in the pool on distribution end. This is unavoidable but usually harmless. The limitation gets worse for reserve assets with fewer decimals. For example, USDC and USDT only support 6 decimals rather than the standard 18 decimals for native erc20 tokens. This means that the minimum pool dust is $1 of USDC or USDT. For this reason we require that the minimum seed is 10 \*\* 8 ($100 for stables) so that the maximum theoretical pool dust is capped at 1% of the initial seed.
This could make tokens with very small decimals in the range of 0 - 5 infeasible as reserve assets due to the minimum seed requirements being too large in the reserve denomination. Rounding errors There are some rounding errors when burning/redeeming tokens that can cause the pro-rate token calculations to differ by one or two in absolute terms between otherwise identical redemptions. For tokens with 10 \*\* 18 decimals this should be harmless as the rounding error will be 10 ^ -18. For tokens with very small decimals this may be problematic.
**Whales**
Whales are a double edged sword in general. On one hand it is great when a large investor takes interest in a project as it is a big vote of confidence. Whales may represent a buyer with long term goals well aligned with the team, or they may simply be taking advantage of a short term exploitable situation. The redeemable tokens being bootstrapped here are designed specifically for fans of the underlying IP to participate in Tokens-as-an-Event (TaaE). While healthy speculation (free market price discovery) is one of the main goals of the distribution and redemption mechanisms, outright market manipulation for the gain of a few actors with disproportionate control over price is NOT desirable (e.g. pump and dump).
One of the difficulties of mitigating whales is that there is always grey area in defining what 'a whale' is and what the difference between 'price discovery' and 'manipulation' is, Commonly whales also have ready access to 'soft' control over the marketplace like bots, hired technocrats, insider information, etc. in addition to their raw buying power. Rather than trying to define rules or whitelisting accounts or taking a 'top down' approach we choose to disincentivise whales at the level of the token and AMM mechanics.
The Dutch Auction style AMM means that whales cannot bulk buy in the first block with a bot to achieve immediate control over the token The Trust contract minting and controlling 100% of the supply (rather than the trust owner) means that nobody can 'pre-mint' tokens for their whale-friends behind closed doors The transaction freezing in the redemption phase means that whales have no ability to trade publicly or privately in order to manipulate market prices, only their personal relationship with their own holdings are relevant in this phase
**Scalpers**
Scalpers are always bad for users who want to use the token for its utility. Scalpers have no intent on using (hodling for rewards) the token and simply want to arbitrage 'being first in line' against 'not being first in line' for some scarce resource. In a traditional setting (e.g. tickets for a live event) scalpers are also bad for the event producer because they extract value from the event without adding value (i.e. the event producer receives less money than they could have).
In a setting where the AMM is initialized with 100% of the token supply the event producer theoretically benefits from scalping as they ultimately exit with the total premium of all trades. In reality scalping still hurts the creator as well as users because the premium relative to the reserve asset should reach an equilibrium with the expected value of the rewards during the redemption phase. If a scalper manages to put a large premium on the token price paid by users of the utility of the token then the redemption phase will be less valuable - i.e. the creator will need to produce more value to at their own cost match the premium gap that the scalper extracted for themselves.
Intuitively, using the live concert example, the event producer may be targeting $100 of value per ticket but scalpers pushing the price up to $200 per ticket will inevitably warp the event-goers expectations of 'good value' despite being fully aware of the scalping premium. Scalping is mitigated by starting the price much higher than the creator expects anybody to pay, i.e. the creator is communicating to the audience "I don't intend to produce that much value for any user, so please wait for the weights to settle a bit before aping in." This also removes both the ability to (no early low price) and incentive to (expectation setting) scalp tokens.
**Rampant speculation**
Speculation is the norm in crypto assets. We want to create a relatively safe environment for our users. This means the token should never go to zero (bad for hodlers) or to the moon (prices out new participants). We don't subscribe to the idea that speculation is zero sum because token sales by the creator ultimately pay the cost of producing the value created by the creator, regardless of whether an individual trader takes a profit or loss.
As long as there are users buying the token with the primary goal to achieve newly created value, and the creator delivers on this value creation, then issuance and purchase of the token is a win/win for the creator and token holders. So some speculation is healthy and even fun but as all good things, in moderation. We effectively clamp the speculation between an upper and lower bound. Token holders should be actively educated and encouraged to never buy above the initial spot price, because they can always wait for the weights to rebalance and bring the price down.
The spot price on the Balancer AMM can never drop below the redemption/book value because this is equivalent to dumping 100% of all tokens minted back to the AMM at the very final block of the weight redistribution, i.e. the lowest price. The redemption value is a fixed minimum because nobody, not even the creator or deployer, can withdraw the reserve token from the redeemable token without calling the redeem function. The redemption value can increase over time due to additional reserve deposits but never drop below the floor established at Trust initialization (without gas fees).
If you subscribe to the idea that crypto assets 'have no intrinsic value' and therefore they are 100% speculative, then having this token drop to the redemption value is the same as it dropping to zero. I.e. when the token reaches the book value, 100% of the speculative premium has been lost. However, by setting a redemption value for the token, we force buyers to match a non-zero non-speculative value on the token that locks up capital before they can consider speculating.
When a buyer purchases a vanilla ERC20 on the open market, 100% of the price they pay is subject to speculation (loss), whereas a redeemable token may be valued as 50% speculative and 50% stable/reserve, which should dampen price swings similar to a traditional diversified portfolio of assets. Front running & MEV Balancer does NOT have a general solution for front-running or MEV as far as I am aware. The general problem is that someone (bot) can observe the mempool (pending transactions), the state of the blockchain including all available contracts, and execute some combination of transactions before and after (an arsehole sandwich) that profits the bot at the expense of the owner of the pending transaction as it finalises. A simple and relevant example is slippage on an AMM.
*If Alice places a large trade with 10% slippage then Bob can buy ahead of Alice (by being a miner or paying more gas to a miner), forcing Alice to pay an even higher price due to Bob's slippage, then Bob can immediately dump (by being a miner or paying slightly less gas to a miner) and arbitrage Alice's slippage.*
This problem is old, it is called 'front running' because brokers would literally run between desks to place their own trades ahead of the trades of their client's. The LBP does have a saving grace in that it passively incentivises relatively small and patient trades through the weight rebalancing. Ignoring gas fees, a simple and safe strategy as a participant in the distribution phase is to Dollar Cost Average (DCA) into the pool to minimise slippage and take advantage of lowering weights without missing the opportunity of high stock of token on sale.
Small trades are less profitable to front run as the slippage and therefore arbitrage opportunity is smaller in both percentage and absolute terms for the bot. The Balancer contract mitigates front running and slippage opportunities by exposing parameters that will revert the transaction if a minimum price is exceeded. If the parameters are set sensibly then any attempt at front-running (or an extra frothy market) will trip the safety on the trade and it will fail. The buyer will still need to pay gas up to the point of the reversion but they will not be forced to accept malicious or extreme slippage.
**Rug pull**
A rug pull is a common scam where a 'team' (usually anon) mints a token, creates an AMM pool (e.g. TKN/WETH), promotes the token and then after a significant amount of the counter token (e.g. WETH) accumulates they mint a huge amount of the token to clear out the AMM pool.
Effectively it is a reboot of the old ICO exit scams but facilitated by an AMM. The Trust contract does not construct or mint any tokens that can be rugged as all token supply changes are behind functions owned/administered by the Trust itself.
**Non-delivery by the creator**
The creator CAN always fail to deliver meaningful value during the redeem phase. Any user that loses faith in the ability of the creator to deliver can always redeem their tokens during the redemption phase for a pro-rata withdrawal of the current balances of the RedeemableERC20 contract. The intent is that many (hundreds or even thousands) of Trust contracts are created over time by many creators. This is mitigated by the curation of front ends that present Trust contracts to end-users. Obvious scams should be filtered out, leaving as high a ratio of well-intentioned creators as possible. Even still, many creators will fail, as this is reality unfortunately. At some point the end-user must apply their own curation metrics before swapping tokens, deciding which creators are worthy of their trust.
**Flashloan attack**
A flashloan involves a user borrowing a large amount of token X in order to execute a series of methods on arbitrary contracts for personal profit, then returning token X in the same block for zero collateral. Flashloans amplify and lower the barrier to exploits that combine various economic incentives across multiple protocols into an aggregate extraction of value at the expense of users of the involved protocols.
Flashloan risk is generally very difficult to analyse, or even attribute blame to for purposes of insurance, as exploits become increasingly sophisticated and involve valid interactions between many separate protocols. It is reasonable to assume that automated flashloan bots will be refined much like arbitrage bots, that constantly scan and simulate contract interactions then automatically execute any profitable trade. Flashloans have also been used to manipulate the voting process of 'governance tokens'.
The usual mitigation strategy is to require at least one block to complete between acquisition of a token and the ability to use it in some functionality. It is reasonable to assume that future contracts MAY develop flashloan-like characteristics that can span multiple blocks. Our hybrid model is resistant to flashloans in their current form and probably future unknown evolutions of it: Each TaaE token has distinct and fixed distribution and redemption phases so trading can never influence redemption Redemption is a one way event and tokens are fixed during redemption, so flash loans are impossible because transfers are impossible Redemption tokens have no utility during the distribution phase, there are no rewards, no voting, no contract interactions from creators during distribution that can be manipulated by a loan
The Balancer pool is preconfigured so that maximum dump of the token is equivalent to the book value of the reserve, the theoretical worst case market action on the LBP is that the seeder has their reserve returned to them and no users participate in the redemption phase 100% of the token supply is provided to the LBP at its inception so there are no outside sources of liquidity to manipulate other than user-initiated secondary markets derived from the LBP during the distribution phase.
# Choice of reserve asset
None of the code in this system has any control over the reserve asset code.
It is up to the Trust deployer and each participating user to conduct their own risk assessment of the reserve asset.
For example:
* Stable coins may introduce regulatory risk, e.g. the American STABLE Act or similar may suddenly apply to a reedeemable token.
* Centralised stable coins could censor the redemption or pool mechanisms by blocking transfers beyond our control.
* The reserve asset could experience its own exit scams and/or exploits.
* The reserve asset could somehow be 'wound down' out from underneath users who want to redeem against it It essentially comes down to counterparty risk (e.g. tether) + technical risk (e.g. hacks) + value risk (e.g. worthless/volatile reserve).
* Rough analysis of notable assets: WETH: Zero counterparty risk, low technical risk, high value risk USDC/DAI: Some counterparty risk, some technical risk, low value risk NFT/partner token: Some counterparty risk, some technical risk, very high value risk.
# Contract upgrades, admin keys, hacks & exploits
* TaaE tokens have fixed scope and duration.
* Every phase change, from bootstrap, distribution and redemption is one-way with predictable timing.
* The final state of the system is that hodlers receive rewards and slowly drop out to the underlying asset as a one-way move, or hold a frozen asset indefinitely if they choose to.
* Every new token event requires a new Trust with its own lifecycle.
* If a vulnerability is found in a version of the Trust the theoretical maximum damage of an exploit is capped at the current locked reserve across the pool and token across vulnerableTrust contracts.
* By versioning and newly deploying Trust contracts, any fix to a discovered exploit will be available for all new Trust contracts after that point. There are no admin keys as the Trust performs all administrative tasks on the child contracts.
# Terms of Use
Below is the terms of use of Polygen which you will be bound by.
## Welcome to Polygen!
### Last updated: Dec 6th, 2021
Polygen is a decentralised launchpad that allows you to fund projects by providing liquidity in a permissionless fashion.
These Terms of Use are entered into by and between You ("**User**", "**Project**") and Polygen INC. (“**Polygen**,” “**Company**,” “**we**,” or “**us**”). The following terms and conditions, together with any documents they expressly incorporate by reference, govern your access to and use of Polygen, including any content, functionality, and services offered on or through [www.polygen.io](https://docs.polygen.io/more-info/www.polygen.io) (the “**Site**”) and (the "**dAPP**").
* **Accepting these Terms:**
These Terms of Use set out your rights and responsibilities when you use Polygen to provide liquidity to projects (“**seed**”), buy and sell project raise tokens (“**trade**”), swap raise tokens and/or seed tokens for actual project tokens (“**claim**”), (collectively, the “**Services**''), so please read them carefully. Polygen is a fundraising platform that facilitates transactions between you and a project but is not a party to any agreement between the buyer and seller of tokens or between any users. This acceptable use policy sets out the content standards that apply when you upload content to our site, make contact with other users on our site, link to our site, or interact with our site in any other way.
By clicking on the “**I Accept**” button, completing the KYC process, or using the Site, you accept and agree to be bound and abide by these Terms of Use and all of the terms incorporated herein by reference. By agreeing to these terms, you hereby certify that you are at least 18 years of age. If you do not agree to these Terms of Use, you must not access or use the Site.
Please note that Section 18 contains an arbitration clause and class action waiver. By agreeing to these Terms of Use, you agree to resolve all disputes through binding individual arbitration, which means that you waive any right to have the dispute decided by a judge or jury, and you waive any right to participate in collective action, whether that be a class action, class arbitration, or representative action.
Polygen reserves the right to change or modify these Terms of Use at any time and in our sole discretion. You agree and understand that by logging into your account, accessing or using the Site following any change to these Terms of Use, you agree to the revised Terms of Use and all of the terms incorporated therein by reference. We encourage you to review the Terms of Use from time to time to ensure that you understand the terms and conditions that apply when you access or use the Site.
* **Your Polygen Account:**
You need to successfully complete your KYC on Polygen to use our Services. To successfully complete your KYC, you need to complete the steps which includes scanning your face (liveness) and upload a document validating your Identification (passport, driver’s license, national ID, residence permit).
{% hint style="info" %}
Please refer to the "*How to KYC*" section in our Gitbook for a complete overview on the steps required.
{% endhint %}
This is the information that we will ask you to provide to be eligible to access the services on Polygen. We may require you, in our sole discretion, to provide additional information and/or documents. If you do not provide complete and accurate information and/or documents in response to such a request, we may refuse to provide you with the Services.
Your Polygen account is subject to the following conditions:
1. **Access**: you understand and agree that access to your Polygen account is limited solely to you. You agree that you will not sell, rent, lease, or grant access to your Polygen account to any person without our prior written permission.
2. **Security**: you understand and agree that you are solely responsible for maintaining the security of your account and control over any user names, passwords, or any other codes that you use to access the Services. Any unauthorized access to your account by third parties could result in the loss or theft of rewards, funds and tokens held in your account/wallet and any associated accounts, including your linked bank account(s) and credit card(s). You understand and agree that you will not hold us responsible for managing and maintaining the security of your account. You further understand and agree that we are not responsible (and you will not hold us responsible) for any unauthorized access to or use of your account. You are responsible for monitoring your account. If you notice any unauthorized or suspicious activity in your account, please notify us immediately.
3. **Communication**: you agree and understand that we will communicate with you via electronic means. To ensure that you receive all of our communications, you agree to keep your email address and telephone number current and notify us if there are any changes. You agree that any notices, agreements, disclosures, or other communications delivered to your email address on record is considered valid.
4. **Refunds**: Since transactions on the blockchain are irreversible, we cannot provide refunds for your transactions on our Platform. We have no ability to cancel, revert, or modify any transactions on the Ethereum/Polygon network.
* **Account Suspension**
You agree that Polygen has the right to immediately suspend your account, pause or cancel your access to the Services, or close your account if we suspect, in our sole discretion, that (1) your account is being used for money laundering or any illegal activity; (2) you have concealed or provided false identification information or other details; (3) you have engaged in fraudulent activity; or (4) you have engaged in transactions in violation of these Terms of Use.
* **Refund Policy**
Polygen cannot provide refunds for transactions made between two parties (ie ‘**Trading**’). You will not be eligible for refunds for items for which you have violated the terms of service. In addition, you may not be eligible for refunds if Polygen determines that you are abusing the refund policy, for instance if you have made multiple refund requests.
* **Communication**
You agree that we may send you promotional communications by email, including, but not limited to, newsletters, special offers, surveys, and other news and information we think will be of interest to you.
You agree that we may send you communications by email or text message that pertain to the status of a purchase or sale of a Fundraising Polygen, and other communications that pertain to your interaction with the website, including but not limited to notifications about the status of a Fundraising You are interested in purchasing.
You may opt out of promotional communications at any time by following the instructions provided therein.
* **User Content**
Any Profile Information you post to the Site will be considered non-confidential and non-proprietary. By providing any User Content on the Website, you grant us and our affiliates and our respective licensees, successors, and assigns the right to use, reproduce, modify, perform, display, distribute, retransmit, publish, broadcast, and otherwise disclose to third parties any such material for any purpose. You represent and warrant that (1) you own and control all rights in and to your User Content and have the right to grant such licenses to us and our affiliates and our respective licensees, successors, and assigns; and (2) all of your User Content do and will comply with these Terms of Use.
You understand and agree that you are responsible for any User Content you submit or contribute, and you, not Polygen, have full responsibility for such content, including its legality, reliability, accuracy, and appropriateness. We are not responsible or liable to any third party for the content, accuracy, or appropriateness of any User Content posted by you or any other user on the Site. If you are a Creator, you hereby grant Polygen the right to use your name and image for marketing or promotional purposes.
If you are a Creator, you agree that we may use or modify images from your creations that you create for marketing or promotional purposes. You also agree that we can use your biography and other public information about you to promote the creations that you create.
As a Creator, you understand and agree that:
1. You are responsible for the accuracy and content of your Creations and rewards;
2. Any Creation that violates any of Polygen’s policies may be obfuscated or deleted by Polygen, in its sole discretion;
3. You will respect the intellectual property of others;
4. You will not coordinate pricing with other Creators.
We reserve the right, in our sole discretion, to prohibit you from uploading your Creations. Although we are not required to monitor any User Content, we may, in our sole discretion, remove User Content at any time and for any reason without notice. Polygen may monitor User Content to detect and prevent fraudulent activity or violation of these Terms of Use.
* **Ownership**
Unless otherwise indicated in writing by us, the Site, all content, and all other materials contained therein, including, without limitation, the Polygen logo, and all designs, text, graphics, pictures, information, data, software, sound files, other files, and the selection and arrangement thereof (collectively, “Polygen Content”) are the proprietary property of Polygen or our affiliates, licensors, or users, as applicable. The Polygen logo and any Polygen product or service names, logos, or slogans that may appear on the Site or elsewhere are trademarks of Polygen or our affiliates, and may not be copied, imitated or used, in whole or in part, without our prior written permission. You may not use any Polygen Content to link to the Site or Content without our express written permission. You may not use framing techniques to enclose any Polygen Content without our express written consent. In addition, the look and feel of the Site and Content, including without limitation, all page headers, custom graphics, button icons, and scripts constitute the service mark, trademark, or trade dress of Polygen and may not be copied, imitated, or used, in whole or in part, without our prior written permission. Notwithstanding anything to the contrary herein, you understand and agree that you shall have no ownership or other property interest in your account, and you further agree that all rights in and to your account are and shall forever be owned by and inure to the benefit of Polygen.
* **Intellectual Property**
Outside the Polygen Content, all other trademarks, product names, and logos on the Site are the property of their respective owners and may not be copied, imitated, or used, in whole or in part, without the permission of the applicable trademark holder. Without limiting the foregoing, if you believe that third-party material hosted by Polygen infringes your copyright or trademark rights, please file a notice of infringement by contacting Polygen at with the subject line ‘COPYRIGHT INFRINGEMENT’ In such event, please provide Polygen with the following information: (1) an electronic or physical signature of the person authorized to act on behalf of the owner of the copyright interest; (2) a description of the copyrighted work that you claim has been infringed; (3) a description of the location on Site of the material that you claim is infringing; (4) your address, telephone number and e-mail address; (5) a written statement by you that you have a good faith belief that the disputed use is not authorized by the copyright owner, its agent or the law; and (6) a statement by you, made under penalty of perjury, that the above information in your notice is accurate and that you are the copyright owner or authorized to act on the copyright owner’s behalf. Polygen’s policy is to suspend or terminate the account of repeat infringers. Polygen’s response may depend on relevant aggravating or mitigating circumstances, but generally we will terminate an account if it is the subject of three valid infringement notices.
* **Your Use of Polygen**
We hereby grant you a limited, non-exclusive, non-transferable, revocable license to access and use the Site and Content. Our grant of such license is subject to the following conditions: Unlawful Activity: you agree not to engage, or assist, in any activity that violates any law, statute, ordinance, regulation, or sanctions program, including but not limited to the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”), or that involves proceeds of any unlawful activity. Abusive Activity: you agree not to engage in any activity that poses a threat to Polygen, for example by distributing a virus or other harmful code, or through unauthorized access to the Site or other users’ accounts. Inappropriate Behavior: you agree not to interfere with other users’ access to or use of the Services. Communication: you agree not to communicate with other users for purposes of (1) sending unsolicited advertising or promotions, requests for donations, or spam; (2) harassing or abusing other users; (3) interfering with transactions of other users. You agree not to use data collected from the Site to contact individuals, companies, or other persons or entities outside the Site for any purpose, including but not limited to marketing activity. Fraud: you agree not to engage in any activity which operates to defraud Polygen, others users, or any other person; or to provide any false, inaccurate, or misleading information to Polygen. Gambling: you agree not to utilize the Services to engage in any lottery, bidding fee auctions, contests, sweepstakes, or other games of chance. Taxes: you agree that you are solely responsible for determining what, if any, taxes apply to your Fundraising transactions. Neither Polygen nor any other Polygen Party is responsible for determining the taxes that apply to your Fundraising transactions. Intellectual Property Infringement: you agree not to (1) engage in transactions involving items that infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the law; (2) use Polygen Content (as defined in Section 7 above) without express written consent from Polygen; or (3) engage in any action that implies an untrue endorsement or affiliation with Polygen. Hyperlinks: you are hereby granted a limited, non-exclusive, non-transferable, revocable license to create a text hyperlink to the Site for noncommercial purposes, provided that such link does not portray Polygen, our affiliates, or the Services in a false, misleading, derogatory, or otherwise defamatory manner, and provided further that the linking site does not contain any adult or illegal materials, or other materials that is offensive, harassing, or otherwise objectionable. Additional Prohibitions: you agree not to (1) distribute, publish, broadcast, reproduce, copy, retransmit, or publicly display any Content; (2) modify or create derivative works from the Site or Content, or any portion thereof; (3) use any data mining, robots, or similar data gathering or extraction methods on the Site or Content; (4) download any portion of the Site or Content, other than for purposes of page caching, except as expressly permitted by us. Individual Use: You agree and represent that your account was created and is being used solely by you personally and that you are not accessing our Site on behalf of any other person or entity. If you are unsure whether a contemplated use would violate these Terms of Use, please contact us at the address listed below under Contact Information.
* **Privacy**
You acknowledge and agree to the collection, use, and disclosure of your personal information in accordance with Polygen’s Privacy Policy, which is incorporated into this User Agreement by reference.
* **Modifications**
You agree and understand that we may modify part or all of Polygen or the Services without notice.
* **Risks**
Please note the following risks in accessing or using Polygen: The price and liquidity of blockchain assets, including Fundraising, are extremely volatile and may be subject to large fluctuations; Fluctuations in the price of other digital assets could materially and adversely affect Fundraising, which may also be subject to significant price volatility; Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange, and value of Fundraising; Fundraising are not legal tender and are not backed by the government; Transactions in Fundraising may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable; Some transactions in Fundraising shall be deemed to be made when recorded on a public ledger, which is not necessarily the date or time that you initiated the transaction; The value of Fundraising may be derived from the continued willingness of market participants to exchange fiat currency or digital assets for Fundraising, which may result in the potential for permanent and total loss of value of a particular Fundraising should the market for that Fundraising disappear; The nature of Fundraising may lead to an increased risk of fraud or cyber attack, and may mean that technological difficulties experienced by Gemini may prevent the access to or use of your Digital Assets; Changes to Third Party Sites (discussed in Section 12 below) may create a risk that your access to and use of the Site will suffer. You agree and understand that you are solely responsible for determining the nature, potential value, suitability, and appropriateness of these risks for yourself, and that Polygen does not give advice or recommendations regarding Fundraising, including the suitability and appropriateness of, and investment strategies for, Fundraising. You agree and understand that you access and use Polygen at your own risk; however, this brief statement does not disclose all of the risks associated with Fundraising and other digital assets. You agree and understand that Polygen will not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when using Fundraising, however caused.
* **Third Parties**
Polygen may rely on third-party platforms to perform Fundraising transactions. Our Site may contain links to third-party websites or applications (collectively, “Third Party Sites”). Polygen does not own or control Third Party Sites. You understand and agree that your use of any Third Party Site is subject to any terms of use and/or privacy policy provided by such Third Party Site. Polygen is not a party to any such agreement. You should review any terms of use and/or privacy policy provided by such Third Party Site and should make whatever investigation you feel necessary or appropriate before proceeding with any transaction with any third party. Polygen provides these Third Party Sites only as a convenience and does not review, approve, monitor, endorse, warrant, or make any representations with respect to Third Party Sites, or their products or services. You use all links in Third Party Sites at your own risk. When you leave our Site, our Agreement and policies no longer govern. We may, but are not obligated to, warn you that you are leaving our Site.
* **Disclaimers**
Except as expressly provided to the contrary in a writing by Polygen, the site, content contained therein, and fundraising listed therein are provided on an “as is” and “as available” basis without warranties or conditions of any kind, either express or implied. Polygen (and its suppliers) make no warranty that the site will (1) meet your requirements; (2) be available on an uninterrupted, timely, secure, or error-free basis; or (3) be accurate, reliable, complete, legal, or safe. We will not be liable for any loss of any kind from any action taken or taken in reliance on material or information, contained on the site. Polygen does not represent or warrant that content on the site is accurate, complete, reliable, current or error-free. We will not be responsible or liable to you for any loss and take no responsibility for, and will not be liable to you for, any use of fundraising including but not limited to any losses, damages or claims arising from: (1) User error such as forgotten passwords, incorrectly constructed transactions, or mistyped addresses; (2) server failure or data loss; (3) corrupted wallet files; (4) unauthorized access to applications; (5) any unauthorized third party activities, including without limitation the use of viruses, phishing, bruteforcing or other means of attack against the site or fundraising. Polygen is not responsible for sustained losses due to vulnerability or any kind of failure, abnormal behavior of software (e.g., wallet, smart contract), blockchains, or any other features of Fundraising. Polygen is not responsible for sustained losses due to late reports by developers or representatives (or no report at all) of any issues with the blockchain supporting Fundraising including forks, technical node issues or any other issues having fund losses as a result. Nothing in this Agreement shall exclude or limit liability of either party for fraud, death or bodily injury caused by negligence, violation of laws, or any other activity that cannot be limited or excluded by legitimate means. To the fullest extent provided by law, Polygen hereby disclaims all warranties of any kind, whether express or implied, statutory, or otherwise, including but not limited to any warranties of merchantability, fitness for a particular purpose, title and non-infringement as to the site and content contained therein. The foregoing does not affect any warranties that cannot be excluded or limited under applicable law.
* **Limitation of Liability**
To the fullest extent permitted by law, in no event will Polygen To the fullest extent permitted by law, in no event will Polygen be liable to you or any third party for any lost profit or any indirect, consequential, exemplary, incidental, special or punitive damages arising from this agreement, the site, products or third party sites and products, or for any damages related to loss of revenue, loss of profits, loss of business or anticipated savings, loss of use, loss of goodwill, or loss of data, and whether caused by tort (including negligence), breach of contract, or otherwise, even if foreseeable and even if Polygen has been advised of the possibility of such damages. Access to, and use of, the sites, products or third party sites and products are at your own discretion and risk, and you will be solely responsible for any damage to your computer system or mobile device or loss of data resulting therefrom. Notwithstanding anything to the contrary contained herein, in no event shall the maximum aggregate liability of Polygen arising out of or in any way related to this agreement, the access to and use of the site, content, fundraising, or any products or services purchased on the site exceed the greater of (a) $100 or (b) the amount you have paid to Polygen for the services in the last six months out of which liability arose. The foregoing limitations of liability shall not apply to liability of Polygen for (a) death or personal injury caused by a member of Polygen’s negligence; or for (b) any injury caused by a member of Polygen’s fraud or fraudulent misrepresentation. Some jurisdictions do not allow the exclusion or limitation of incidental or consequential damages, so the above limitation or exclusion may not apply to you. Some jurisdictions also limit disclaimers or limitations of liability for personal injury from consumer products, so this limitation may not apply to personal injury claims.
* **Indemnification**
To the fullest extent permitted by applicable law, you agree to indemnify, defend and hold harmless Polygen, and our respective past, present and future employees, officers, directors, contractors, consultants, equity holders, suppliers, vendors, service providers, parent companies, subsidiaries, affiliates, agents, representatives, predecessors, successors and assigns (individually and collectively, the “Polygen Parties”), from and against all actual or alleged third party claims, damages, awards, judgments, losses, liabilities, obligations, penalties, interest, fees, expenses (including, without limitation, attorneys’ fees and expenses) and costs (including, without limitation, court costs, costs of settlement and costs of pursuing indemnification and insurance), of every kind and nature whatsoever, whether known or unknown, foreseen or unforeseen, matured or unmatured, or suspected or unsuspected, in law or equity, whether in tort, contract or otherwise (collectively, “Claims”), including, but not limited to, damages to property or personal injury, that are caused by, arise out of or are related to (a) your use or misuse of the Site, Content or Fundraising, (b) any Feedback you provide, (c) your violation of these Terms of Use, and (d) your violation of the rights of a third party, including another user. You agree to promptly notify Polygen of any third party Claims and cooperate with the Polygen Parties in defending such Claims. You further agree that the Polygen Parties shall have control of the defense or settlement of any third party Claims. This indemnity is in addition to, and not in lieu of, any other indemnities set forth in a written agreement between you and Polygen.
* **Governing Law**
These Terms of Use, your use of Polygen, your rights and obligations, and all actions contemplated by, arising out of or related to these Terms of Use shall be governed by the laws of the United Kingdom, as if these Terms of Use are a contract wholly entered into and wholly performed within the United Kingdom. You understand and agree that your use of Polygen as contemplated by these terms of use shall be deemed to have occurred in the United Kingdom and be subject to the internal laws of that country without regard to its conflicts of laws provisions.
* **Disputes**
Please read the following agreement to arbitrate (“Arbitration Agreement”) in its entirety. This clause requires you to arbitrate disputes with Polygen and limits the manner in which you can seek relief from us. You agree that any dispute or claim relating in any way to: your access, use, or attempted access or use of the Site; any products sold or distributed through the Site; or any aspect of your relationship with Polygen will be resolved by binding arbitration, except that (1) you may assert claims in small claims court if your claims qualify; and (2) you or Polygen may seek equitable relief in court for infringement or other misuse of intellectual property rights (such as trademarks, trade dress, domain names, trade secrets, copyright, or patent). You agree that any such arbitration shall be settled solely and exclusively by binding arbitration held in the United Kingdom and conducted in English, rather than in court. The arbitrator shall have exclusive authority to (1) determine the scope and enforceability of this Arbitration Agreement; and (2) resolve any dispute related to the interpretation, applicability, enforceability or formation of this Arbitration Agreement, including but not limited to any claim that all or part of this Arbitration Agreement is void or voidable; (3) decide the rights and liabilities, if any, of you and Polygen; (4) grant motions dispositive of all or part of any claim; (5) award monetary damages and grant any non-monetary remedy or relief available to a party under applicable law, arbitration rules, and these Terms of Use (including the Arbitration Agreement). The arbitrator has the same authority to award relief on an individual basis that a judge in a court of law would have. The arbitrator shall issue a written award and statement of decision describing the essential findings and conclusions on which the award is based, including the calculation of any damages awarded. Such an award is final and binding upon you and us. You understand that by agreeing to this Arbitration Agreement, you and Polygen are each waiving their right to trial by jury and to participate in a class action or class arbitration. If any part of this Arbitration Agreement is found to be invalid or unenforceable, then such part shall be of no force and effect and shall be severed and the remainder of the Arbitration Agreement shall continue to in full force and effect. This Arbitration Agreement shall survive the termination of your relationship with Polygen.
* **Termination**
We reserve the right, without notice and in our sole discretion, to terminate your license to access or use the Site or Content, at any time and for any reason. You understand and agree that we shall have no liability or obligation to you in such an event.
* **Severability**
If any term, clause, or provision of these Terms of Use is held invalid or unenforceable, then that term, clause, or provision shall be severable from these Terms of Use and will not affect the validity or enforceability of any remaining part of that term, cause, or provision, or any other terms, clause, or provision of these Terms of Use.
* **Entire Agreement**
These Terms of Use comprise the entire agreement between you and Polygen relating to your access to and use of the Site and Content, and supersede any and all prior discussions agreements, and understandings of any kind (including without limitation prior versions of this User Agreement). Except as otherwise provided herein, these Terms of Use are intended solely for the benefit of the parties and are not intended to confer third party beneficiary rights upon any other person or entity.
* **Survival**
You agree and understand that all provisions of these Terms of Use shall survive the termination or expiration of these Terms of Use.
* **Contact Information**
If you have any questions, would like to provide feedback, or would like more information about Polygen, please feel free to email us at . If you would like to lodge a complaint, please contact us at Polygen INC Address
# Privacy Policy
**WELCOME TO POLYGEN!**
Polygen provides a social digital goods platform via the Polygen website (the “Site”), the Polygen application (the “App”) and related Internet services (collectively, the “Service(s)”). The Service is operated by Polygen (the “Company”, “we” or “us”) for users of the Service (“you”). This Privacy Policy sets forth our policy with respect to information that is collected from visitors to the Site and users of the App and/or the Services. Under applicable law, Polygen Inc. is the “data controller” of personal data collected through the Services.
INFORMATION WE COLLECT
When you interact with us through the Services, we may collect information from you, as further described below: Information You Provide: We collect information from you when you voluntarily provide such information, such as when you register for access to the Services or use certain Services. Information we collect may include but not be limited to username, email address, and any messages, images, transient VOIP data (to enable communication delivery only) or other content you send via the chat feature.
OTHER INFORMATION:
Data We Collect Automatically: When you interact with us through the Services, we receive and store certain information such as an IP address, device ID, and your activities within the Services. We may store such information or such information may be included in databases owned and maintained by affiliates, agents or service providers. The Services may use such information and pool it with other information to track, for example, the total number of visitors to our Site, the number of messages users have sent, as well as the sites which refer visitors to Polygen. Aggregated Information: In an ongoing effort to better understand and serve the users of the Services, we may conduct research on our customer demographics, interests and behavior based on the information collected. This research may be compiled and analyzed on an aggregate basis, and we may share this aggregate data with our affiliates, agents and business partners. We may also disclose aggregated user statistics in order to describe our services to current and prospective business partners, and to other third parties for other lawful purposes. Info through other Services: You may give us permission to collect your information in other services. For example, you may connect a social networking service ("SNS") such as Facebook or Twitter to your Polygen account. When you do this, it allows us to obtain information from those accounts (for example, your friends or contacts). • Cookies: We employ cookies and similar technologies to keep track of your local computer’s settings such as which account you have logged into and notification settings. Cookies are pieces of data that sites and services can set on your browser or device that can be read on future visits. We may expand our use of cookies to save additional data as new features are added to the Service. In addition, we use technologies such as web beacons and single-pixel gifs to record log data such as open rates for emails sent by the system. We may use third party web site analytic tools such as Google Analytics on our website that employ cookies to collect certain information concerning your use of our Services. However, you can disable cookies by changing your browser settings. Further information about the procedure to follow in order to disable cookies can be found on your Internet browser provider's website via your help screen. • Advertisements: You may see our Service advertised in other applications or websites. After clicking on one of these advertisements and installing our Service, you will become a user of the Service. Advertising platforms, which include Twitter and Facebook (and whose SDKs are integrated within our Service), may collect information for optimizing advertising campaigns outside of the Service. If you do not wish to receive personalized advertising that is delivered by third parties outside of the Polygen Service, you may be able to exercise that choice through opt-out programs that are administered by third parties, including the Network Advertising Initiative (NAI), the Digital Advertising Alliance (DAA). Our Services currently do not respond to “Do Not Track” (DNT) signals and operate as described in this Privacy Policy whether or not a DNT signal is received, as there is no consistent industry standard for compliance.
WHERE INFORMATION IS PROCESSED
The Company is based in the British Virgin Islands (BVI). No matter where you are located, you consent to the processing and transferring of your information in and to the BVI and other countries. The laws of the BVI and other countries governing data collection and use may not be as comprehensive or protective as the laws of the country where you live.
OUR USE OF YOUR INFORMATION
We use the information you provide in a manner that is consistent with this Privacy Policy. If you provide information for a certain reason, we may use the information in connection with the reason for which it was provided. For instance, if you contact us by email, we will use the information you provide to answer your question or resolve your problem. Also, if you provide information in order to obtain access to the Services, we will use your information to provide you with access to such services and to monitor your use of such services. The Company and its subsidiaries and affiliates (the “Related Companies”) may also use your information collected through the Services to help us improve the content and functionality of the Services, to better understand our users and to improve the Services. The Company and its affiliates may use this information to contact you in the future to tell you about services we believe will be of interest to you. If we do so, each marketing communication we send you will contain instructions permitting you to "opt-out" of receiving future marketing communications. In addition, if at any time you wish not to receive any future marketing communications or you wish to have your name deleted from our mailing lists, please contact us as indicated below.
OUR DISCLOSURE OF YOUR INFORMATION
The Company is not in the business of selling your information. We consider this information to be a vital part of our relationship with you. There are, however, certain circumstances in which we may share your information with certain third parties, as set forth below: • Business Transfers: As we develop our business, we might sell or buy businesses or assets. In the event of a corporate sale, merger, reorganization, bankruptcy, dissolution or similar event, your information may be part of the transferred assets. • Consent: We may transfer your information with your consent. • Related Companies: We may also share your information with our Related Companies for purposes consistent with this Privacy Policy. • Developers: Developers using our SDK or API will have access to their end users’ information, including message content, message metadata, and voice metadata. Developers must use such information only to provide the SDK/API functionality within their applications and/or services. • Agents, Consultants and Related Third Parties: Like many businesses, we sometimes hire other companies or individuals to perform certain business-related functions. Examples of such functions include mailing information, maintaining databases and processing payments. • Legal Requirements: We may disclose your information if required to do so by law or in the good faith belief that such action is necessary to (i) comply with a legal obligation, (ii) protect and defend the rights or property of the Company or Related Companies, (iii) protect the personal safety of users of the Services or the public, (iv) protect against legal liability, or (v) comply with the company’s Anti-Money Laundering and Counter Terrorism Financing obligations. • Aggregated or Non-identifiable Data: We may also share aggregated or non-personally identifiable information with our partners or others for business purposes.
UNSOLICITED INFORMATION
You may provide us with ideas for new products or modifications to existing products, and other unsolicited submissions (collectively, “Unsolicited Information”). All Unsolicited Information shall be deemed to be non-confidential and we shall be free to reproduce, use, disclose, and distribute such Unsolicited Information to others without limitation or attribution.
CHILDREN
Our Services are for users age 13 and over and we do not knowingly collect personal information from children under the age of 13. If you are a parent or guardian of a child under the age of 13 and believe he or she has disclosed personal information to us please contact us at For residents of the EEA, where processing of personal information is based on consent, Polygen will not knowingly engage in that processing for users under the age of consent established by applicable data protection law. If we learn that we are engaged in that processing with such users, we will halt such processing and will take reasonable measures to promptly remove applicable information from our records.
LINKS TO OTHER WEB SITES
This Privacy Policy applies only to the Services. The Services may contain links to other web sites not operated or controlled by us (the “Third Party Sites”). The policies and procedures we described here do not apply to the Third Party Sites. The links from the Services do not imply that we endorse or have reviewed the Third Party Sites. We suggest contacting those sites directly for information on their privacy policies.
DATA RETENTION
We generally retain personal data for so long as it may be relevant to the purposes identified herein. To dispose of personal data, we may anonymize it, delete it or take other appropriate steps. Data may persist in copies made for backup and business continuity purposes for additional time.
SECURITY
We take reasonable steps to protect the information provided via the Services from loss, misuse, and unauthorized access, disclosure, alteration, or destruction. However, no Internet or email transmission is ever fully secure or error free. In particular, email sent to or from the Services may not be secure. Therefore, you should take special care in deciding what information you send to us via email. Please keep this in mind when disclosing any information via the Internet.
YOUR DATA RIGHTS AND CHOICES
We believe that users should be treated equally no matter where they are, and so we are making the following options to control your data available to all users, regardless of their location. You can update certain information by accessing your profile via “Settings.” You can also unsubscribe from certain emails by clicking the “unsubscribe” link they contain. You can opt out from certain cookie- related processing by following the instructions above in “Other Information.” Individuals in the European Economic Area, Canada, Costa Rica and some other jurisdictions outside the United States have certain legal rights to obtain confirmation of whether we hold personal data about them, to access personal data we hold about them (including, in some cases, in portable form), and to obtain its correction, update, amendment or deletion in appropriate circumstances. They may also object to our uses or disclosures of personal data, to request a restriction on its processing, or withdraw any consent, though such actions typically will not have retroactive effect. They also will not affect our ability to continue processing data in lawful ways. • How can I access the personal data you have about me? If you would like to submit a data access request, you can do so from the “Settings” page of the Services, where there is a button to download your data. We will then start the process and provide you a link to access the personal data that Polygen has on you within 30 days. • How do I correct, update, amend, or delete the personal data you have about me? In addition to the functionality available through the “Settings” of the Services, in which you can correct, update, amend, or delete certain personal data, you can also request other modifications from us directly. Please write us at with the words “Personal Data Request” in the subject or body of your message, along with an explanation of what data subject right you are seeking to exercise. For your protection, we may take steps to verify identity before responding to your request. • How do I object or restrict the manner in which Polygen processes my personal data? You have a right to ask us to stop using or limit our use of your personal data in certain circumstances—for example, if we have no lawful basis to keep using your data, or if you think your personal data is inaccurate. Polygen offers you the ability to restrict the processing of your data for specific uses, which you can find in the “Settings” page of the services. Individuals in the European Economic Area have the right to opt out of all of our processing of their personal data for direct marketing purposes. To exercise this right, please see the “Settings” page for your Account. You may also click the “unsubscribe” link in any of our marketing emails. The rights and options described above are subject to limitations and exceptions under applicable law. In addition to those rights, you have the right to lodge a complaint with the relevant supervisory authority. However, we encourage you to contact us first, and we will do our very best to resolve your concern.
EU-U.S. PRIVACY SHIELD AND SWISS-U.S. PRIVACY SHIELD
Polygen complies with the EU-U.S. Privacy Shield Framework and the Swiss – U.S. Privacy Shield Framework as set forth by the U.S. Department of Commerce regarding the collection, use, and retention of personal information transferred from the European Union and Switzerland to the United States, respectively. Polygen Limited has certified to the Department of Commerce that it adheres to the Privacy Shield Principles. If there is any conflict between the terms in this privacy policy and the Privacy Shield Principles, the Privacy Shield Principles shall govern. To learn more about the Privacy Shield program, and to view our certification, please visit Polygen Limited is potentially liable for onward transfers to third parties of personal data of EU or Swiss individuals received pursuant to Privacy Shield. Polygen Limited is subject to oversight by the U.S. FTC. JAMS is the US-based alternative dispute resolution provider responsible for reviewing and resolving complaints about Polygen Limited’s Privacy Shield compliance. We ask that you first submit any complaints to us at . If you aren't satisfied with our response, you can then contact JAMS at In the event your concern still isn't addressed by JAMS, you may be entitled to a binding arbitration under Privacy Shield and its principles. December 02, 2020 Updates Interpretation and Definitions Interpretation The words of which the initial letter is capitalized have meanings defined under the following conditions. The following definitions shall have the same meaning regardless of whether they appear in singular or in plural. Definitions For the purposes of this Privacy Policy: Account means a unique account created for You to access our Service or parts of our Service. Company (referred to as either; the Company; We; Us; or Our; in this Agreement) refers to POLYGEN TECHNOLOGIES LIMITED \_\_\_\_\_\_\_\_\_\_\_\_\_\_
Cookies are small files that are placed on Your computer, mobile device or any other device by a website, containing the details of Your browsing history on that website among its many uses. Country refers to: United Kingdom Device means any device that can access the Service such as a computer, a cellphone or a digital tablet. Personal Data is any information that relates to an identified or identifiable individual. Service refers to the Website. Service Provider means any natural or legal person who processes the data on behalf of the Company. It refers to third-party companies or individuals employed by the Company to facilitate the Service, to provide the Service on behalf of the Company, to perform services related to the Service or to assist the Company in analyzing how the Service is used. Third-party Social Media Service refers to any website or any social network website through which a User can log in or create an account to use the Service. Usage Data refers to data collected automatically, either generated by the use of the Service or from the Service infrastructure itself (for example, the duration of a page visit). Website refers to Polygen, accessible from Polygen.io You means the individual accessing or using the Service, or the company, or other legal entity on behalf of which such individual is accessing or using the Service, as applicable. Information from Third-Party Social Media Services The Company allows You to create an account and log in to use the Service through the following Third-party Social Media Services: Google Facebook Twitter If You decide to register through or otherwise grant us access to a Third-Party Social Media Service, We may collect Personal data that is already associated with Your Third-Party Social MediaService's account, such as Your name, Your email address, Your activities or Your contact list associated with that account. You may also have the option of sharing additional information with the Company through Your Third-Party Social Media Service's account. If You choose to provide such information and Personal Data, during registration or otherwise, You are giving the Company permission to use, share, and store it in a manner consistent with this Privacy Policy. Tracking Technologies and Cookies We use Cookies and similar tracking technologies to track the activity on Our Service and store certain information. Tracking technologies used are beacons, tags, and scripts to collect and track information and to improve and analyze Our Service. The technologies We use may include: Cookies or Browser Cookies A cookie is a small file placed on Your Device. You can instruct Your browser to refuse all Cookies or to indicate when a Cookie is being sent. However, if You do not accept Cookies, You may not be able to use some parts of our Service. Unless you have adjusted Your browser setting so that it will refuse Cookies, our Service may use Cookies. Flash Cookies Certain features of our Service may use local stored objects (or Flash Cookies) to collect and store information about Your preferences or Your activity on our Service. Flash Cookies are not managed by the same browser settings as those used for Browser Cookies. For more information on how You can delete Flash Cookies, please read ; Where can I change the settings for disabling, or deleting local shared objects? Web Beacons Certain sections of our Service and our emails may contain small electronic files known as web beacons (also referred to as clear gifs, pixel tags, and single-pixel gifs) that permit the Company, for example, to count users who have visited those pages or opened an email and for other related website statistics (for example, recording the popularity of a certain section and verifying system and server integrity). Cookies can be; Persistent; or; Session; Cookies. Persistent Cookies remain on Your personal computer or mobile device when You go offline, while Session Cookies are deleted as soon as You close Your web browser. Learn more about cookies: What Are Cookies? We use both Session and Persistent Cookies for the purposes set out below: Necessary / Essential Cookies Type: Session Cookies Administered by: Us Purpose: These Cookies are essential to provide You with services available through the Website and to enable You to use some of its features. They help to authenticate users and prevent fraudulent use of user accounts. Without these Cookies, the services that You have asked for cannot be provided, and We only use these Cookies to provide You with those services. Cookies Policy / Notice Acceptance Cookies Type: Persistent Cookies Administered by: Us Purpose: These Cookies identify if users have accepted the use of cookies on the Website. Functionality Cookies Type: Persistent Cookies Administered by: Us Purpose: These Cookies allow us to remember choices You make when You use the Website, such as remembering your login details or language preference. The purpose of these Cookies is to provide You with a more personal experience and to avoid You having to re-enter your preferences every time You use the Website. Tracking and Performance Cookies Type: Persistent Cookies Administered by: Third-Parties Purpose: These Cookies are used to track information about traffic to the Website and how users use the Website. The information gathered via these Cookies may directly or indirectly identify you as an individual visitor. This is because the information collected is typically linked to a pseudonymous identifier associated with the device you use to access the Website. We may also use these Cookies to test new pages, features or new functionality of the Website to see how our users react to them. For more information about the cookies we use and your choices regarding cookies, please visit our Cookies Policy or the Cookies section of our Privacy Policy. Analytics We may use third-party Service providers to monitor and analyze the use of our Service. Google Analytics Google Analytics is a web analytics service offered by Google that tracks and reports website traffic. Google uses the data collected to track and monitor the use of our Service. This data is shared with other Google services. Google may use the collected data to contextualize and personalize the ads of its own advertising network. You can opt-out of having made your activity on the Service available to Google Analytics by installing the Google Analytics opt-out browser add-on. The add-on prevents the Google Analytics JavaScript (ga.js, analytics.js and dc.js) from sharing information with Google Analytics about visits activity. For more information on the privacy practices of Google, please visit the Google Privacy & Terms web page: Behavioral Remarketing The Company uses remarketing services to advertise to You after You accessed or visited our Service. We and Our third-party vendors use cookies and non-cookie technologies to help Us recognize Your Device and understand how You use our Service so that We can improve our Service to reflect Your interests and serve You advertisements that are likely to be of more interest to You. These third-party vendors collect, store, use, process and transfer information about Your activity on Our Service in accordance with their Privacy Policies and to enable Us to: Measure and analyze traffic and browsing activity on Our Service Show advertisements for our products and/or services to You on third-party websites or apps Measure and analyze the performance of Our advertising campaigns Some of these third-party vendors may use non-cookie technologies that may not be impacted by browser settings that block cookies. Your browser may not permit You to block such technologies. You can use the following third-party tools to decline the collection and use of information for the purpose of serving You interest-based advertising: The NAI's opt-out platform: The EDAA's opt-out platform: The DAA's opt-out platform: You may opt-out of all personalized advertising by enabling privacy features on Your mobile device such as Limit Ad Tracking (iOS) and Opt Out of Ads Personalization (Android). See Your mobile device Help system for more information. We may share information, such as hashed email addresses (if available) or other online identifiers collected on Our Service with these third-party vendors. This allows Our third-party vendors to recognize and deliver You ads across devices and browsers. To read more about the technologies used by these third-party vendors and their cross-device capabilities please refer to the Privacy Policy of each vendor listed below. The third-party vendors We use are: Google Ads (AdWords) Google Ads (AdWords) remarketing service is provided by Google Inc. You can opt-out of Google Analytics for Display Advertising and customise the Google Display Network ads by visiting the Google Ads Settings page: Google also recommends installing the Google Analytics Opt-out Browser Add-on - for your web browser. Google Analytics Opt-out Browser Add-on provides visitors with the ability to prevent their data from being collected and used by Google Analytics. For more information on the privacy practices of Google, please visit the Google Privacy & Terms web page: Bing Ads Remarketing Bing Ads remarketing service is provided by Microsoft Inc. You can opt-out of Bing Ads interest-based ads by following their instructions: You can learn more about the privacy practices and policies of Microsoft by visiting their Privacy Policy page: Twitter Twitter remarketing service is provided by Twitter Inc. You can opt-out from Twitter's interest-based ads by following their instructions: You can learn more about the privacy practices and policies of Twitter by visiting their Privacy Policy page: Facebook Facebook remarketing service is provided by Facebook Inc. You can learn more about interest-based advertising from Facebook by visiting this page: To opt-out from Facebook's interest-based ads, follow these instructions from Facebook: Facebook adheres to the Self-Regulatory Principles for Online Behavioural Advertising established by the Digital Advertising Alliance. You can also opt-out from Facebook and other participating companies through the Digital Advertising Alliance in the USA , the Digital Advertising Alliance of Canada in Canada or the European Interactive Digital Advertising Alliance in Europe , or opt-out using your mobile device settings. For more information on the privacy practices of Facebook, please visit Facebook's Data Policy: Pinterest Pinterest remarketing service is provided by Pinterest Inc. You can opt-out from Pinterest's interest-based ads by enabling the ;Do Not Track; functionality of your web browser or by following Pinterest instructions: You can learn more about the privacy practices and policies of Pinterest by visiting their Privacy Policy page: ;
* Links to Other Websites Our Service may contain links to other websites that are not operated by Us. If You click on a third party link, You will be directed to that third party's site. We strongly advise You to review the Privacy Policy of every site You visit. We have no control over and assume no responsibility for the content, privacy policies or practices of any third party sites or services.
* CHANGES TO THIS PRIVACY POLICY
We reserve the right to update or modify this Privacy Policy at any time and from time to time without prior notice. Please review this policy periodically, and especially before you provide any information. This Privacy Policy was last updated on the date indicated above. Your continued use of the Services after any changes or revisions to this Privacy Policy shall indicate your agreement with the terms of such revised Privacy Policy.
* CONTACTING US
Please also feel free to contact us if you have any questions about this Privacy Policy or the information practices of the Services. You may contact us as follows: .