Grant Request by Polylastic

Submission Date
October 14, 2021

Project Links
Discord: Discord

Project Description

Polylastic is a digital finance ecosystem aggregator. It is geared towards offering the very best indices in the cryptocurrency market, with a focus on growing and raising awareness of projects built on the Polygon network. Polylastic’s native governance token, POLX, allows its holders an opportunity to vote on proposals for protocol updates, management of index baskets, and future development. The Polylastic team and community bring a wealth of knowledge and experience to this exciting initiative and are on a path to revolutionizing the DeFi sector within the ever-evolving cryptocurrency space.

Amount requested
30,000 USD


Milestone 1 ($10,000)
Successful migration of smart contracts to Polygon

Milestone 2 ($20,000)
The final version of initial indexes live on Polygon, additional marketing around the event


Has the amount requested been granted or is it still pending approval?

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@Grendel, can someone reach out to Polylastic on their grant submission…

Contacts have already been. There was therefore the final evaluation step, the outcome of which will be announced today.


Awesome. Thank you for the update.

@Pamela, this answers your question.

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Thanks for the response! Where will it be announced? Can you direct me to the platform / give a link?

The Polyastic grant was approved after discussions with the team to further specify the milestones.

"The Polylastic core team has set ambitious milestones that we aim to quickly achieve for both Polylastic Index products and the POLX token. This grant will help assist us in achiving the below mentioned goals and stimulate the growth of Polylastic. Milestones include:

The deployment of the POLX governance token and index portfolios on mainnet. The POLX governance token will allow its holders an opportunity to vote on proposals for protocol updates, management of index baskets, and future development.
As for the indices, we will offer a minimum of 4 independent index basket contracts, including DeFi, blue-chip, NFT/gaming, and meme token portfolios. We have been in advanced discussions with top blockchain developers, one of which will be chosen to develop these index contracts. We estimate the cost to create these indices will enter into the low six figures range. While this cost is significant, by deploying these indices, we will ensure the health and sustainability of this project.

Milestone one is considered reached when both the POLX token is deployed on Polygon mainnet, and the first 4 index portfolios are also deployed on mainnet. The blockchain development costs upon completion of these items, is estimates to be roughly $15k USD for the POLX contract, and in the vicinity of $180k USD for the completion of indices. For this milestone:
· 60% of the grant funds would be allocated to help cover some of the initial developmental costs for both of these items, including:
o 30% allocated to the POLX token creation
o 30% allocated to the construction of the indices)

This will increase our capacity to significantly grow TVL within the Polylastic protocol and POLX index contracts. As it stands, POLX has sustained a healthy aggregate amount of funds within its current protocol. We strongly believe that we will see this value increase once the Polygon mainnet contract is deployed and POLX is made even more widely available for trade. Additionally, with Polylastic’s top-line indices available to the public, we anticipate a wide audience within the crypto space will positively respond to the appeal of what we are offering and enter into these indexes. We believe that with expert marketing and a growing number of Polygon users, we can cross a threshold of over $100 mil USD in stored value within each index.

Milestone two is considered reached when both the POLX token and Polylastic indices are live and any necessary ongoing development is underway post-launch. This can include adding features, updating interface, etc. This grant would, in part, help ensure that our indices stay up-to-date and optimally functioning, as we strive to exceed our TVL goals for each index.
· 40% of the grant funds would be allocated to help cover ongoing updates, as needed, post-launch to the indices:
o 20% allocated to updating index baskets and associated costs
o 20% allocated to the maintenance of user interface

If awarded this grant, it will be used to help fund the development and deployment of the POLX governance token and Polylastic’s first set of indices. We are very confident that it will have a great impact in seeing to it that our indices are well-developed and meet the very high standard that we have set, and Polygon expects from all projects built within the ecosystem.

Please see their medium post, we’re looking forward to working togheter with them building our ecosystem!


Grant Request Status