Polytrade
Crypto Overview
Purpose and Utility
Polytrade is a blockchain-based protocol designed to bridge the gap between real-world trade finance and DeFi. The platform aims to help small and medium enterprises (SMEs) access working capital by tokenizing their trade receivables. The TRADE token serves as the platform's governance token and provides utility within the ecosystem.
Business Model Analysis
The platform connects businesses seeking financing with crypto investors who can provide liquidity against real-world invoices and receivables. These receivables are converted into NFTs that can be traded on the platform. The business model appears to align with halal principles as it facilitates real trade finance and involves the exchange of actual assets.
Real-World Adoption
Polytrade has established partnerships with several trade finance companies and claims to have processed significant invoice volumes. However, specific adoption metrics and transaction volumes are not publicly available.
Platform Development
The project maintains active development with regular updates to their protocol. The team has implemented several key features including invoice tokenization, verification systems, and a marketplace for trading receivables.
Token Distribution
The TRADE token has a total supply of 100 million tokens. While detailed token distribution information is not readily available, the project implements vesting schedules for team allocations.
Crypto Impact
To assign a comfort level investing in Polytrade 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 Polytrade.
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.