Stargaze (STARS)

NFT Marketplace and Trading

Stargaze is a decentralized NFT marketplace built on the Cosmos blockchain. It allows users to discover, collect, trade, and launch NFT projects. It supports NFTs from various Cosmos-based chains and plans to enable NFTs from other blockchains like Ethereum to be traded on its platform.

Governance and Staking

The native token STARS is used for governance voting on platform upgrades and membership in the Stargaze curation DAO. It is also staked to pay for on-chain storage of NFT content.

Minting and Social Tokens

STARS tokens are used to mint NFTs and will be used in the future to mint social tokens. Stargaze aims to become a Web3 social networking protocol where users can share posts and interact with content using social tokens.

Interoperability

Stargaze uses the IBC protocol to enable cross-chain NFT transfers and trading within the Cosmos ecosystem and beyond. This includes partnerships to bring Ethereum NFTs into Cosmos and vice versa.

Community and Curation

STARS holders influence which NFT collections get featured and promoted, supporting a community-driven curation model. The platform also hosts weekly community votes to select projects.

Low Fees and Scalability

Built with Cosmos SDK, Stargaze offers low transaction costs and scalability compared to Ethereum-based NFT marketplaces, making it efficient for creators and collectors.

Pros of Stargaze

Stargaze is a decentralized NFT marketplace built on the Cosmos ecosystem that allows users to mint, trade, and store NFTs. The platform is community-owned and secured, with 25% of its initial funds going toward an airdrop. It supports interoperability through the IBC protocol, allowing it to connect with other Cosmos-based blockchains like Cronos and Terra. Stargaze is carbon neutral due to its Proof-of-Stake consensus mechanism, which leaves a small carbon footprint. The platform includes a role-playing game called Crypto Dungeon and a decentralized exchange called STARDEX for trading meme coins. It also features a staking mechanism that allows users to earn passive income by locking their tokens. The open-source nature of the code means anyone can review and contribute to the development. The platform uses CosmWasm, which provides a secure and performant environment for smart contracts with zero gas fees when launching collections.

Cons of Stargaze

Some users have reported that many projects on Stargaze are AI-generated content rather than high-quality, handcrafted work. The bear market significantly impacted the platform, with users losing money on NFTs and paying high fees for transactions. The platform has faced criticism for making promises about making a living from NFTs and royalties that have not materialized. STARS tokens are not available on centralized exchanges, requiring users to trade them for other cryptocurrencies on decentralized exchanges. The platform's NFT marketplace has seen limited growth compared to other major NFT platforms. Some users have expressed disappointment that NFT hype has not caught on as expected, and the platform may struggle to attract widespread adoption.

Founders

Stargaze was co-founded by Shane Vitarana, Jorge Hernandez, and Jake Hartnell. Shane has a strong background in technology and software engineering, contributing to projects like CosmWasm and early apps such as Drum Kit and the Ted Talks app. Jorge Hernandez is recognized for his development skills and contributions to Stargaze’s uptime and quality. Jake Hartnell is also a co-founder, known for his work on Juno and contributions to CosmWasm.

Team Changes

Jake Hartnell has parted ways with Stargaze, returning his original founder allocation of 30 million STARS tokens to the Stargaze Foundation. Shane and Jorge remain fully dedicated to building Stargaze.

Investors in Stargaze

A41, Alves Ventures, CSP DAO, Draft Ventures, and Figment Capital are 5 of 11 investors who have invested in Stargaze.

Halal Status of Stargaze

• Yes, Stargaze can be considered halal by some Islamic finance perspectives because it is a decentralized NFT marketplace and staking platform that does not inherently involve interest (riba) or gambling.
• The halal or haram status of cryptocurrencies depends on factors like transparency, absence of interest, and ethical use, which Stargaze’s staking and trading mechanisms generally align with.
• However, Islamic scholars have differing opinions on crypto in general, so individual consultation with a qualified Islamic finance scholar is recommended for personal decisions.