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Stargaze

Key Features and Use Cases of Stargaze

• NFT Platform: Stargaze is a sovereign app chain designed to empower creators, traders, and developers in the NFT space. It offers a suite of apps for NFT minting, trading, and more advanced NFT-Fi applications.

• Chain-Enforced Royalties: Stargaze enforces royalties at the chain level, ensuring that creators and developers receive their due share from NFT transactions. This feature is unique compared to other NFT platforms where royalties can be bypassed.

• Zero Gas Fees: Stargaze allows for minting and trading NFTs with zero gas fees, making it more accessible and cost-effective for users.

• Real Yield: Stargaze offers staking yield through delegating STARS to validators, as well as additional yield from protocol fees. This means that stakers can earn rewards not only from securing the network but also from the activity on the platform.

• Interoperability: Stargaze supports IBC (Inter-Blockchain Communication) and pioneered ICS-721, the Interchain NFT transfer standard, enabling seamless NFT transfers across different blockchains.

• Developer Incentives: Developers on Stargaze earn 50% of all fees charged by a contract, known as Developer Royalties, providing a robust incentive for building on the platform.

• Advanced Trading Tools: Stargaze offers advanced trading tools for sophisticated traders, including live auctions and a loyalty program that rewards STARS stakers.

• Community Governance: As a community-owned app chain, Stargaze allows stakeholders to participate in governance decisions, ensuring that the platform evolves in alignment with community needs.

Pros of Stargaze

• Decentralization: Stargaze is a decentralized platform, allowing users to create, buy, and sell NFTs without intermediaries or centralized authorities.
• Low Fees: Stargaze offers zero gas fees for minting and trading NFTs, making it an attractive option for creators and collectors.
• Interoperability: Built on the Cosmos ecosystem, Stargaze provides interoperability with other blockchain networks and ecosystems through IBC and Gravity Bridge.
• Sustainable: Stargaze uses a Proof-of-Stake (PoS) consensus mechanism, which is more energy-efficient than traditional Proof-of-Work (PoW) mechanisms.
• Community-driven: Users can participate in governance and decision-making through a system of decentralized voting.
• Creative Tools: Stargaze provides a range of creative tools for artists and creators to design and mint their own NFTs.
• Security: Stargaze uses advanced security measures, such as multi-signature wallets, to protect user funds and prevent unauthorized access.

Cons of Stargaze

• Limited Adoption: As a relatively new platform, Stargaze may have limited adoption and market presence compared to more established NFT marketplaces.
• Dependence on Cosmos Ecosystem: Stargaze's interoperability and functionality are heavily dependent on the Cosmos ecosystem and its technologies like IBC and Gravity Bridge.
• Volatility: The STARS token, like other cryptocurrencies, can be subject to market volatility, which may affect its value and stability.
• Complexity: The use of advanced technologies like IBC and Gravity Bridge may introduce complexity for users who are not familiar with these systems.
• Competition: Stargaze faces competition from other NFT marketplaces and platforms, which may offer similar features and functionalities.

Founders of Stargaze

The founders of Stargaze are:

• Jorge: Chief chain connoisseur and Gopher.
• Shane: Chief therapist and CosmWasm smart contracts developer.

These founders are dedicated to building and expanding Stargaze, focusing on its growth and development within the Cosmos ecosystem.

Stargaze Investors

The specific investors in Stargaze are not detailed in the provided sources. However, it is mentioned that Stargaze had a funding round on January 16, 2024, but the investors and the funding amount are not specified.

General Information on Stargaze

• Project Overview: Stargaze is a decentralized and community-owned network for NFTs, built as an app-specific Cosmos Proof-of-stake chain using the Tendermint consensus engine. It aims to be similar to OpenSea but governed by a community via a curation DAO and a protocol DAO.
• Functionality: Stargaze allows users to buy, sell, and trade NFTs, including trading NFTs across other IBC-enabled chains and interoperating with Ethereum over Gravity Bridge.
• Token Use: The native staking token, STARS, is used for fees, running validator nodes, voting in governance, and minting and bidding on NFTs.

Halal Status of Stargaze

No, the halal status of Stargaze is not definitively established. The Islamic community has varying opinions on the matter, with some scholars arguing that cryptocurrencies can be halal if they do not breach Islamic prohibitions on interest, contractual uncertainty, and gambling, while others consider them haram due to their speculative nature and lack of physical backing.

Key Considerations

• Legitimacy and Project Screening: The project must be genuine and comply with Shariah principles.
• Financials and Token Screening: The financial aspects and token mechanics must adhere to Islamic finance principles.
• Staking and Usage: The staking mechanism and usage of the cryptocurrency must not involve gambling or usury.
• Regulatory Certainty: There is a need for clearer regulatory guidelines to determine the halal status of cryptocurrencies.

Conclusion

Given the ongoing debate and lack of consensus among Islamic scholars, it is crucial for Muslim investors to conduct thorough research and seek guidance from qualified Islamic scholars before investing in Stargaze or any other cryptocurrency.