Polkastarter
Crypto Overview
Project Overview
Polkastarter is a protocol built for cross-chain token pools and auctions, enabling projects to raise capital on a decentralized and interoperable environment based on Polkadot. The POLS token serves as the native governance token of the platform, granting holders voting rights and access to participation in token sales.
Intended Utility
The primary intended utility of POLS is to facilitate decentralized fundraising and cross-chain swaps. Token holders can participate in governance decisions, access exclusive IDO opportunities, and stake tokens to receive platform benefits. The protocol aims to provide a fair and transparent launchpad for new blockchain projects.
Actual Utility and Usage
The platform has demonstrated significant real-world adoption, having facilitated numerous successful token launches since its inception. On-chain data shows active usage for its intended purposes, with regular IDOs taking place and consistent governance participation. The development team maintains regular updates and improvements to the protocol.
Token Distribution and Governance
The token distribution shows a relatively balanced allocation: 15% to team and advisors (with vesting), 30% for ecosystem development, 25% for public sale, and 30% for liquidity and partnerships. Team tokens are subject to a 2-year vesting period with a 6-month cliff, indicating commitment to long-term development.
Technology and Revenue Model
The platform generates revenue through listing fees and transaction fees from token sales, which are distributed to stakers and ecosystem development. The staking mechanism is based on proof-of-stake principles without involving interest-bearing elements, making it compliant with Islamic finance principles.
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”.
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.