Polaris Share, POLA's Effort to Remove Bithumb from Watchlist... "Due to Delay in Some Processes"

[Asia Economy Reporter Jang Hyowon] Polaris Share announced on the 9th through its official bulletin board that “POLA investment attraction was essential for the successful progress of the ‘Polaris Share’ project, enhancing token value and increasing circulation,” and stated, “We will do our best to have the cryptocurrency POLA (Pola) removed from Bithumb’s investment caution list.”

On the late afternoon of the 2nd, Polaris Share signed token investment contracts with six private investors to raise funds for the development and operation of the decentralized incentive knowledge trading platform ‘Polaris Share,’ and simultaneously proceeded with token distribution and disclosure submission to the virtual asset disclosure platform Xangle. However, after going through Xangle’s review process, the disclosure was made public on the morning of the 3rd, which became the reason for the caution designation.

A company official said, “This investment was conducted to utilize a portion of the sales volume specified in the coin whitepaper as funds for the development and operation of ‘Polaris Share.’ Although the disclosure was made simultaneously with the contract, the public release was delayed due to external processes. Since this does not violate transparency or disclosure standards, we will sincerely respond to the exchange’s explanation procedures.”

After this investment attraction, the circulating supply of POLA increased from about 3% to about 6% of the total issued amount. The strategic investors who participated in the investment sympathize with Polaris Share’s long-term vision and growth potential, and they expect that after the issuance of community-based NFTs (Non-Fungible Tokens), the number of coin users will increase substantially, leading to active coin utilization.

The official emphasized, “We will take all necessary measures to prevent reckless large-scale selling that could harm existing holders with the invested volume. Considering the current circulation and daily trading volume of POLA, it is physically impossible to dispose of it in the short term, and the investors have no intention to do so.”

‘Polaris Share’ is a knowledge-sharing blockchain platform that connects document publishers and users. By sharing and trading various information and insights, publishers receive rewards, and users can obtain high-quality information at low costs. Through the S2E (Share to Earn) service, it is preparing for the Web 3.0 era where users can own content rights.