STP
Crypto Overview
Overview
Standard Protocol (STPT) is a Polkadot-based decentralized finance (DeFi) protocol that aims to provide a collateralized stablecoin platform. The protocol's native token, STPT, serves multiple utilities within the ecosystem including governance rights and collateral management.
Intended Utility
The primary purpose of STPT is to serve as the governance token for the Standard Protocol ecosystem. Token holders can participate in protocol decisions, propose changes, and vote on protocol upgrades. Additionally, STPT is used for collateral management in the protocol's stablecoin system.
Actual Utility and Adoption
The protocol has achieved some level of adoption, particularly in the Asian markets. The token is actively traded on major exchanges and is being used for its intended governance purposes. The development team maintains regular updates and improvements to the protocol.
Token Distribution and Governance
The token distribution appears relatively balanced, with clear vesting schedules for team members and early investors. The project maintains transparency regarding token allocations and uses.
Business Model Analysis
The protocol's business model focuses on providing DeFi services through its stablecoin platform. While some aspects involve collateralization, the core mechanism doesn't rely on traditional interest-bearing structures that would conflict with Islamic principles.
Development Activity
The project shows consistent development activity with regular updates to its codebase and protocol improvements. The team maintains active communication channels and provides regular updates to the community.
Crypto Impact
To assign a comfort level investing in STP 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 STP.
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.