PolkaArt

The world has transformed in the past few years with lightning speed. The way people
conduct financial transactions evolved, as well.
A strong need for financial inclusion together with opening the opportunities to preserve
capital and generate wealth for people all over the world lead to the birth of a
decentralized financial system. DeFi marks the new era of transferring value from traditional
finance and preparing the world for a tokenized future.
In 2020 the Blockchain market flourished with many decentralized exchanges and
protocols. The cryptocurrency trading community has also grown significantly. DeFi wants
and needs to attract users to gain mass adoption, however, it still loses traders to centralized
solutions. The modern user has to settle for a compromise instead of a perfect product, no
matter whether the choice is centralized or decentralized trading platforms.

Let’s go into details here…
Cryptocurrency markets can be divided into two categories: centralized (exchanges that
always feature the orderbook) and decentralized (can be with or without the orderbook).
Centralized Markets: - Centralized exchanges are well-known to any novice crypto
trader. They belong to a particular company and require active market-making. The idea of
orderbook markets came from traditional finance.
Centralized exchanges are called Orderbook markets because buyers and sellers can offer
prices at which they are happy to buy or sell assets on the exchange, forming a book (or
list) of future orders. The trade is executed if there is a match between one user’s buy order
price and another user’s sell order price. This matched price becomes the asset’s new
market price.
Both participants of the orderbook markets enjoy a wide range of benefits but at the same
time have to compromise on some important aspects.

The Polkaart ecosystem stands on the shoulders of DeFi's predecessors and provides the
best solutions for problems faced by traditional finance by offering a transparent,
decentralized, cross-chain, and user-friendly one-stop platform - where users with little to
zero exposure to the DeFi ecosystem will find the best available products in the space to
maximize returns and minimize the complexity of investing in DeFi. To this end, the Polkaart
ecosystem will launch a whole bunch of products and services step by step and one after
the other. The first step is that we will be focusing on foundational services to implement all
the key bricks for the ecosystem, while we move to the next step where we will be
enhancing the platform by adding extra functionalities to Polkaart.

POLKAART ECOSYSTEM
Polkaart offers the following products and services as a part of its first step deployment:
 HyperSwap:
 Decentralized Asset Swap based on an automated market-making mechanism.
 Layer 2 (or Application layer) protocols for mitigating the high transaction cost (Gas
fee) while maintaining the security guarantee of layer 1 (or Settlement layer.
 Cross Chain Swap.
 POLKA token: Utility token that will be used for the governance of the Polkaart
ecosystem, with proposals and voting rights that will together determine its future. Will
be used to incentivise early adopters of the Polkaart ecosystem.
 Polkaart Wallet: Decentralised wallet for Polkaart products and services.
 Polkaart-Comp: Decentralized money markets where investors can lend or borrow
digital assets with interest rates determined by the law of supply and demand.

The idea of Polkaart started back in 2018 when project leaders worked on a consensus
algorithm to scale transaction throughput on a distributed network. Looking for a scalable
use case they decided to apply the technology to a decentralized exchange. Later they
came across the Polkadot network and Substrate framework that allowed building the final
version of Polkaart.
We chose Polkadot among other Blockchains because it offered us an opportunity to
create a highly scalable and fully decentralized platform for a peer-to-peer and trustless
token exchange. From the ideation stage, we stated that the Polkaart platform must
provide high-frequency trading, high liquidity and ultra-fast transaction speed to support
DeFi applications. Moreover, we required an easy interface to make DeFi usable for people
with any level of technological knowledge.
Aiming high, we also had very high requirements that are difficult to find in a single network.
Ethereum network has major scalability issues and is unable to handle the high volume of
transactions that we envisioned for Polkaart. Other solutions such as NEO, TomoChain or
Cardano also have limited scalability and interface development is not as great as we had
in mind for Polkaart.
Polkadot, on the other hand, meets Polkaart’s requirements perfectly.
As transactions are processed in a parallelized way the network is considerably faster than
the competition. Moreover, Polkadot can bring various tokens and Blockchains together
creating a vibrant ecosystem. This is definitely what Polkaart exchange requires.
Polkadot’s Substrate also allows us to add new features and constantly develop the
Polkaart platform without going through complicated and lengthy processes including hard
forks. As we plan to be a single solution for all the DeFi users’ and project teams’ needs it is a
crucial advantage for us.
Substrate framework allows us to focus all our attention on optimizing the network and
reaching the performance that is second to none.
Polkaart also uses the full power of the Polkadot ecosystem to bring more liquidity to the
platform through parachains. The technology adds to Polkaart’s security: through Polkadot
parachain, traders can bring liquidity without entrusting their assets to centralized services,
lock their assets in Ethereum using Smart Contracts and bring the liquidity to Polkaart,
without involving third parties.

The POLKA is the native currency for the POLKAART.