Palette
Crypto Overview
Purpose and Utility
Palette (PLT) is a cryptocurrency token that operates on the Ethereum blockchain. It serves as the native utility token for Palette, a platform designed to facilitate NFT creation and trading. The token is meant to be used for governance, staking, and platform fee payments within the Palette ecosystem.
Business Model Evaluation
The business model appears to be focused on providing infrastructure for NFT markets and digital asset trading. The platform enables users to create, buy, and sell NFTs while using PLT tokens for various platform operations. This model aligns with halal principles as it involves actual asset exchange and provides real utility through its NFT infrastructure services.
Adoption and Usage
Current adoption appears to be limited, with most token activity occurring on decentralized exchanges. While the platform has launched its core NFT functionality, user adoption metrics are modest.
Development Activity
The project maintains an active GitHub repository with regular updates to their smart contracts and platform infrastructure. The development team appears to be continuously working on platform improvements and new features.
Token Distribution
According to available data, the token distribution includes allocations for the development team, ecosystem growth, and public sale participants. Vesting schedules are in place for team tokens, indicating some protection against immediate selling pressure from insiders.
Crypto Impact
To assign a comfort level investing in Palette from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Palette.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.