Stargaze (STARS)

Use Cases of Stargaze

• NFT Marketplace: Stargaze is a community-owned platform where users can buy, sell, and trade NFTs (digital collectibles).
• Digital Assets: It supports creating and managing various digital assets on its decentralized network.
• $STARS Token: The native token $STARS is used for transactions and participation within the Stargaze ecosystem.

Pros

• Decentralized and Community-Owned: Stargaze is fully decentralized and governed by its community, giving users control over the network and its development.
• NFT Focused: It offers a zero gas fee NFT Launchpad and marketplace, making it easy and affordable to mint, buy, and trade NFTs.
• Proof-of-Stake Security: Uses a proof-of-stake consensus with staking rewards, allowing users to earn yield by securing the network.
• Interoperability: Built on Cosmos, Stargaze supports IBC (Inter-Blockchain Communication), enabling it to connect and interact with other blockchains.
• Customizable and Flexible: As an app chain, it allows developers to build and deploy CosmWasm smart contracts, enabling advanced NFT and social token applications.
• Governance and Royalties: Community governance enforces royalties on NFTs, supporting creators sustainably.
• Active Community and Development: Regular AMAs, collaborations, and open-source code encourage transparency and community involvement.

Cons

• Low Token Price and Volume: The STARS token has a low price and relatively small trading volume, which might affect liquidity.
• Niche Market: Focused mainly on NFTs and social tokens, which may limit appeal to broader crypto users.
• Early Stage: As a newer project, some features and ecosystem tools are still developing or in alpha stages.
• Complexity for Beginners: While it supports beginners minting NFTs, the full range of features and staking might be complex for new users without some learning curve.

For more details, visit the official website: stargaze.zone

Founders of Stargaze

• Shane Vitarana: A software engineer with nearly 30 years of programming experience, known for contributions to iOS apps and the Ruby on Rails framework.
• Jorge Hernandez: Met Shane while working at TruStory, an early Cosmos SDK protocol, bringing strong software engineering skills.
• Jake Hartnell: Also a programmer with extensive experience, worked closely with Shane and Jorge for over two years before parting ways with the project.

These founders have deep backgrounds in software engineering and blockchain development, especially within the Cosmos ecosystem.

Investors in Stargaze

Stargaze's token distribution includes several key groups: founders, advisors, validators, investors, the community pool (protocol DAO), and the Stargaze Foundation. The Foundation holds about 21.5% of tokens to develop the ecosystem, while investors, founders, and advisors share the remaining tokens. The community pool also holds a significant portion to support governance and growth.

Token Sale and Funding

During its initial Liquidity Bootstrapping Pool (LBP) on the Osmosis blockchain, Stargaze sold 18 million STARS tokens. This event helped bootstrap liquidity and involved community participation in managing funds.

Community and Ecosystem Support

Stargaze is community-owned and decentralized, with investors including those who participate in governance and staking. The project also collaborates with other blockchain projects, which helps attract a broader range of supporters and investors.

For more details, visit the official website: stargaze.zone

Halal Status of Stargaze

• General Halal Considerations: Cryptocurrencies are considered halal if they comply with Islamic finance principles, such as avoiding interest (riba), gambling, and excessive uncertainty (gharar). They should have a clear, ethical purpose and not be involved in haram activities.

• Stargaze Specifics: Stargaze is a decentralized, community-owned NFT platform built on a proof-of-stake blockchain. It uses staking to secure the network and distribute rewards, which some scholars consider halal if the project itself is compliant with Shariah principles.

• Conclusion: Yes, Stargaze can be considered halal because it operates on a proof-of-stake model without interest-based lending and focuses on digital assets and NFTs, which are generally permissible. However, individual confirmation with a qualified Islamic scholar is recommended for personal assurance.