A problem that Polylastic aims to resolve surrounds the confusion that elastic tokens tend to inspire. Despite the reasonably simple mechanics, misunderstanding abounds and slews of projects are continually being introduced to the market. With time, the pegged values are getting more and more “creative." It is difficult to keep up with as it does not yet enjoy the coverage of mainstream cryptos—though this is beginning to change.
A peek under the hood will also inform that a surprising percentage of these projects have no reason to exist. Simply replicating a leading project and claiming to be a new kind of money is a spurious premise to base anything on. While this should seem intuitive, it unfortunately is not as unique pegs can obscure the questionable nature of a given endeavor. Compounding these issues is the misnomer that the price of an elastic token is the key indicator of its performance. Price per token can increase while the supply may shrink to render one’s holdings less valuable than the day prior. Currently, the price tracking websites of cryptocurrencies are not able to stay up to date on changes in supply nor accurately reflect the given movement of an elastic token. Polylastic will aspire to present such information on a simple dashboard, offering users real time pricing that will limpidly demonstrate actual gains and losses.
Last modified 2yr ago