Polkadot Ecosystem Decentralized Funding Platform Polimec Announces Cessation of Operations

Foresight News reports that Polimec, a decentralized fundraising platform within the Polkadot ecosystem, has announced that after extensive efforts, the project will be forced to cease all commercial operations. Due to changes in the market environment, active user participation has fallen far short of expectations, with investment demand for Substrate-based tokens in particular having nearly disappeared, making it difficult for the project to sustain itself. Despite the team's ongoing efforts and commitment to high compliance standards, the depletion of resources has rendered continued operations unsustainable. Polimec will support users in withdrawing their assets to Polkadot or Asset Hub as planned, and will ensure that investors who participated in fundraising rounds receive the mainnet tokens corresponding to their investment rounds.

Polimec was founded in 2022 with the goal of creating a decentralized, community-driven, and regulatory-compliant fundraising protocol. In 2024, the platform successfully launched a live parachain and supported fundraising for three projects.