Polylastic
Crypto Overview
Project Overview
Polylastic (POLX) is a cryptocurrency token built on the Polygon network that aims to create an index protocol for tracking the performance of various cryptocurrency assets. The project's stated purpose is to provide a simplified way for users to gain exposure to multiple crypto assets through a single token.
Utility Analysis
The primary utility of POLX includes governance rights over the index protocol and access to the platform's features. Token holders can participate in voting on which assets should be included in the indices and other protocol parameters.
Current Usage and Development
The project has shown limited development activity recently, with most interactions appearing to be trading-focused rather than utility-focused. While the index platform exists, actual usage of the intended index tracking functionality appears minimal.
Token Distribution and Governance
The token distribution information is publicly available, with a relatively standard allocation between team, development, and public sale participants. There are vesting schedules in place for team tokens, which provides some protection against immediate selling pressure from insiders.
Technology and Revenue Model
The core technology revolves around index creation and tracking, which does not inherently involve any prohibited activities like interest-based lending or gambling. The revenue model is based on protocol fees from index rebalancing and management, which represents a legitimate exchange of services.
Crypto Impact
To assign a comfort level investing in Polylastic 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 Polylastic.
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.