What's he trying to solve…
In the world of companies that are primarily profit-driven and seek to create organizational wealth, some of which are self-centred organizations that only care about making profit, POLLAX is a purpose-driven, decentralized organization that is a giver ecosystem that focuses on the positive social impact of their activity.
The ecosystem is to create extremely affordable premium existing and new innovative applications, web SaaS, games, and many more, as well as to create as many administrative employment opportunities as possible, all governed by the Pollax community, working with some of the best venture capital firms in the blockchain space.
Most of these applications will operate over the blockchain, which is a peer-to-peer network that is geographically dispersed. Anyone can join and contribute to a public blockchain. Each peer has a copy of the ledger to ensure data integrity and combat fraud on the blockchain.
All of this contributes to decentralization. By design, a blockchain network does not require a centralized entity to function, and by design, it can be made not to be controlled by a single person. To you, this might not be anything new. The approach through which Pollax wants to change the internet for the better by making it a more affordable environment, Pollax It is designed to be extremely profitable as its primary focus is on scaling, and with the support of funding and community, it is potentially disruptive.
Project Cash-Event
How is Pollax going to achieve all that? Have you ever heard of a wealth creation event? The Pollax Project Cash Event through Pollax Connect is a community event that aims to encourage members of the Pollax community to contribute to the growth and support of the community and its projects and get FREE coins that eventually gain value. Members can potentially earn thousands of dollars after completing simple tasks that would take less than 20 minutes.
Why this is a good approach?
Marketing to build a community can be extremely expensive due to the low conversion rate and a lack of motivation to join.
The Pollax model takes a different approach where it gives all event members 2–15% of a token total supply of a new token project to the Pollax community members for FREE after collaboratively hitting the assigned target threshold. The tokens are distributed before everyone else (the public). The endowment effect is what it’s called.
The endowment effect (also called divestiture aversion and linked to the mere ownership effect in social psychology) is the notion that people give more value to items simply because they own them in psychology and behavioural economics. Furthermore, people are more likely to participate in a project that they have previously held or still own since they are familiar with it.
How does it work?
With the aim of an initial 80,000 members for the event group, the members are to help in writing personalised messages to members of other telegram and discord groups to invite them to join in on the launch of a Pollax project group and promote different projects on social media like Twitter, the main channels being Telegram and Discord.
Whenever their threshold has been met, Eg. 100,000 members invited to a new project group (less than 3 invites per member), they are immediately sent the project token, which will increase in value as the public joins in on buying the cryptocurrency (newly invited members and the rest of the public). The transaction fees from the cryptocurrencies will also be used to give occasional rewards to members to enhance engagement while the majority is spent on building new projects.
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Projects
As mentioned, all the projects will be created to provide value at better rates than existing solutions, as well as look at substantial profits to build more applications, with the target being 15+ application releases every month.
The master key that is undiscussed that would be crucial to the success of a blockchain protocol is user interaction, Blockchain solutions can be extremely complex. Pollax Projects aim to make it so simple and seamless that grandma and grandpa can interact with fairly complex financial systems like DE-FI lending and staking unknowingly.
Funds generated from every application will be in an open book model, available to members of the Pollax community to audit and give suggestions.
Pollax Community App
The first application to be developed by the community will be the Pollax App. This will be the central new community home. It will enable Pollax Members to interact with each other easily, they will also be able to receive general crypto news, updates regarding the community projects, all in all giving a better interactive environment
Some of the features are:
1. A community point system that will give users points based on their community participation and that will earn them rewards inform of project tokens
2. Blog
3. Community application request form and a progress tracker
4. Project and suggestion voting
5. Its customizability will make it easier to prevent scam bots compared to any existing solution
Pollax Stablecoin
The characteristics of money are durability, portability, divisibility, uniformity, limited supply, acceptability, and stability. The stablecoin, which will be open source for integration as a checkout option in partnership with other payment processing gateways like Coinbase Commerce and BitPay, will offer the lowest transaction fees possible.
Stablecoin will be used alongside fiat payment options (Mastercard and Visa) but will be a cheaper option due to lower transaction fees. Other than being used in Pollax projects, it will also be used by companies that want to integrate with their online services.
The goal is to eventually tap into centralized physical businesses. By working with Square developers to build a payment option into Square Point of Sale machines.
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Pollax.org
Email: team@pollax.org
Twitter.com/PollaxCommunity
