Pastel

Overview

Pastel is a blockchain platform designed to serve the digital art and NFT ecosystem. The project aims to provide a secure, decentralized infrastructure for NFT creation, validation, and trading with a focus on preventing fraud and protecting digital art authenticity.

Purpose and Utility

The PSL token serves multiple functions within the Pastel ecosystem: It is used as the native currency for network transactions, pays for NFT registration and validation services, and enables participation in the network's Sense and Cascade protocols for detecting NFT duplicates and providing decentralized storage.

Business Model Analysis

The platform's core functionalities focus on legitimate tech services: NFT authentication, decentralized storage, and digital art trading. These activities align with halal principles as they involve real asset exchange and provide tangible utility.

Development Activity

The project maintains active development, with regular GitHub commits and protocol updates. The team has implemented key features like their Sense protocol for near-duplicate NFT detection and Cascade protocol for distributed storage.

Token Distribution

PSL has a transparent token distribution model with clearly defined allocations. Development team tokens are subject to vesting periods, indicating commitment to long-term development rather than short-term gains.

Current Usage

While adoption remains in early stages, the platform is being actively used for its intended purposes of NFT creation and validation. The project has established partnerships with various digital art platforms and creators.