Polylastic

Halal Rating :
Comfortable
Contract: 0x187ae45f2d361cbce37c6a8622119c91148f261b
Last Price $0.0000011 Last updated:
Rank 2792
1D Change 0.00 %
Market Cap $71,032
Circulating supply 67,007,683,334
Maximum supply 98,251,501,368

Crypto Overview

Categories
  • Polygon Ecosystem
  • BNB Chain Ecosystem

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.

Rating Justification

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