Pastel
Crypto Overview
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.
Crypto Impact
To assign a comfort level investing in Pastel 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 Pastel.
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.