Polkastarter

Halal Rating :
Comfortable
Last Price $0.42 Last updated:
Rank 754
1D Change 0.03 %
Market Cap $41.58m
Circulating supply 99,209,632
Maximum supply None

Crypto Overview

Categories
  • DeFi
  • Polkadot
  • Polkadot Ecosystem
  • Launchpad
  • BNB Chain

Purpose and Utility

Polkastarter is a protocol built on multiple blockchains that enables projects to launch decentralized token pools and auctions. It serves as a launchpad platform where crypto projects can raise capital and distribute tokens in a decentralized manner. The POLS token is used for governance, staking, and accessing token sales on the platform.

Business Model Evaluation

The core business model revolves around facilitating token launches and fundraising in a decentralized manner. The platform's primary functions include: token pool creation, cross-chain swaps, and fixed-swap pools. Projects launching through Polkastarter must pass due diligence checks, promoting transparency.

Real-World Adoption

Polkastarter has facilitated numerous token launches since its inception. According to their official statistics, over 200 projects have launched through the platform, raising significant capital. The platform maintains active partnerships with multiple blockchain networks including Polygon, Binance Smart Chain, and Avalanche.

Development Activity

The platform shows consistent development activity with regular updates to its protocol. The team maintains an active GitHub repository and frequently releases new features and improvements. Recent developments include enhanced KYC requirements and improved vetting processes for projects.

Token Distribution

The total supply of POLS is 100 million tokens. According to their documentation, 15% was allocated to the team and advisors with a vesting period, 3% for development, and the remainder distributed through various public and private sales, liquidity provisions, and community incentives.

Additional Considerations

The platform facilitates token sales but does not engage in interest-bearing activities or gambling. While projects launching on Polkastarter may individually raise concerns, the platform itself serves as infrastructure rather than directly engaging in potentially problematic activities.

Crypto Impact

To assign a comfort level investing in Polkastarter 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 Polkastarter.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

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Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

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