PolkaBridge PricePBRInactive

What is PolkaBridge (PBR)?

PolkaBridge (PBR) is a decentralized cross-chain protocol designed to act as the primary bridge between Polkadot and other blockchains. It also incorporates a suite of DeFi features that complement its bridging services. The project currently operates on the Ethereum blockchain as an ERC-20 token and has outlined plans to migrate to the Polkadot blockchain in the future. Additional chain support is expected to be added as requirements evolve.

PolkaBridge is also described as a decentralized all-in-one application platform and a decentralized all-in-one financial application platform. Its ecosystem is intended to include multichain and cross-chain functionality, allowing users to swap tokens on the DOT platform to tokens on other chains and vice versa. Users can also earn by adding liquidity, lending, farming, and more.

The PBR token has a maximum supply of 100,000,000 tokens. It is deflationary in nature, as a small portion of each transaction is burned, causing the total supply to decrease over time. The project launched in January 2021 and has since launched more than 50 projects through its platform.

Key Specifications & Tokenomics

• Name: PolkaBridge
• Ticker / Symbol: PBR
• Primary Blockchain / Platform: Ethereum (ERC-20 token)
• ERC-20 Contract Address (Ethereum): 0x298d492e8c1d909D3F63Bc4A36C66c64ACB3d695
• Polygon Contract Address: 0x0d6ae2a429df13e44a07cd2969e085e4833f64a0
• BSC Contract Address (new): 0x3c1b057cb7aceb4f2c4d889a29febec30a6a3146
• Token Type: Token (ERC20) on Ethereum; Mineable: No
• Max Supply: 100,000,000 PBR
• Total Supply: 74,896,606 PBR
• Circulating Supply: 74,896,606 PBR (74.90% in circulation)
• Category / Tags: AI & Big Data, Decentralized Exchange (DEX) Token, DeFi, Yield Farming, Launchpad, Web3, ERC20
• Token Reputation (Etherscan): Neutral
• Token Allocation: Ecosystem 30%, Team 20%, Presale 20%, Marketing 20%, Initial Liquidity 10%
• Unlock Schedule: Ecosystem 1,000,000 PBR every month; Marketing 1,000,000 PBR every month; Team 5,000,000 PBR every 6 months
• Decimals: 18; Contract source code verified as an Exact Match on Etherscan (compiler v0.6.1+commit.e6f7d5a4).

Who created PolkaBridge?

PolkaBridge is run by a largely anonymous team whose members come from different cultures and multiple areas of expertise. Most team members have worked in the blockchain and cryptocurrency industry for a long time. Detailed public information about individual team members is currently limited. According to public sources, PolkaBridge was founded by Cyclese Mohr and is run by a largely anonymous team with deep roots in blockchain development.

How does PolkaBridge work?

PolkaBridge operates as a decentralized cross-chain protocol. Its core function is to enable users to swap tokens on the Polkadot platform to tokens on other chains and vice versa. The platform is designed to support multichain and cross-chain functionality, with the goal of becoming the primary bridge between Polkadot and other blockchains. The team planned a migration to Polkadot as a parachain for Q3 2021, after which the Polkadot network would be supported in the platform's cross-dex exchange; the project also planned to auction for a parachain slot.

The PolkaBridge ecosystem includes several platform modules. PolkaBridge Farming uses a deflationary farming model that does not rely on inflation to reward stakers. Instead, it takes parts of every transaction as a deposit for the staking rewards pools, and a certain part of every transaction is burned. PolkaBridge Launchpad is an Initial Decentralized Offering (IDO) platform designed to incubate promising projects and allow PBR holders to participate in early-stage investment opportunities.

What makes PolkaBridge unique and valuable?

PolkaBridge distinguishes itself through its focus on cross-chain interoperability between Polkadot and other blockchains, combined with a suite of DeFi features. Its deflationary farming model is a notable design choice, as it does not depend on inflation to reward stakers but instead uses parts of every transaction to fund staking rewards pools while also burning a portion of each transaction. This mechanism creates deflationary pressure on the token supply over time.

Its Launchpad provides PBR holders with access to early-stage investment opportunities in promising projects. The platform's planned migration to Polkadot as a parachain and its integration with BSC further expand its potential reach and utility across multiple blockchain networks.

What is PolkaBridge used for?

The PBR token is the native asset of the PolkaBridge project. It exists primarily as an ERC-20 token on the Ethereum blockchain and is planned to be introduced on the Polkadot blockchain. PBR is required for transactional activity on the network, as a staking collateral, and for staking rewards.

PBR is also used for participation in the Launchpad IDOs, serving as the base asset for cross-chain swaps, and for lending and prediction purposes. The main features of the PBR token include rewards for farming, with many pools available for farming and liquidity, similar to other DeFi platforms. $PBR is also used for governance and to pay lending fees within the ecosystem.

How Is the PolkaBridge ecosystem developing?

The PolkaBridge ecosystem has been expanding through partnerships and project launches. According to the project, more than 50 projects have launched through its platform, including an IDO for Nomad Exiles on March 26.

PBR was listed on KuCoin on November 16, 2021 (trading from 8:00 UTC, ERC-20 deposits). PolkaBridge has also been covered in media for its BSC integration. The team planned a migration to Polkadot as a parachain for Q3 2021, after which the Polkadot network would be supported in the platform's cross-dex exchange; the project also planned to auction for a parachain slot. PolkaBridge migrated its old BSC contract (0x1D1cB8997570e73949930c01Fe5796C88d7336c6) to a new BSC contract (0x3c1b057cb7aceb4f2c4d889a29febec30a6a3146), per the project's official announcement.

How to mine PolkaBridge?

PBR is not a mineable token. Instead, users can earn PBR through staking and farming activities on the PolkaBridge platform. The platform offers a deflationary farming model that does not rely on inflation to reward stakers but rather takes parts of every transaction as a deposit for the staking rewards pools. A certain part of every transaction is also burned.

Users can participate in farming and liquidity pools to earn rewards. PBR is also required as staking collateral and for staking rewards. Additionally, users can earn by adding liquidity, lending, and farming on the platform.

How to keep your PolkaBridge Coin safe?

Keeping your PBR tokens safe requires following standard cryptocurrency security practices. Use a reputable wallet that supports ERC-20 tokens, and consider hardware wallets for long-term storage. Always verify contract addresses before interacting with any token contract. The official ERC-20 contract address for PBR on Ethereum is 0x298d492e8c1d909D3F63Bc4A36C66c64ACB3d695.

PolkaBridge migrated its old BSC contract to a new BSC contract at 0x3c1b057cb7aceb4f2c4d889a29febec30a6a3146; always verify the address against the project's official channels before interacting. PolkaBridge's smart contracts are intended to be fully audited by a reputable third party such as Quantstamp, CertiK or Consensys before running on Mainnet; however, Etherscan currently lists no contract security audit submitted. Etherscan labels the token's reputation as Neutral; this label is not a security audit or a guarantee of safety. As with all crypto assets, investing carries significant market risk, including extreme volatility and the potential loss of capital.