Solanium.io Review 1 by Partners

Solanium.io Review

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Based on looking at the website solanium.io, it appears to be a platform centered around decentralized finance DeFi, specifically focusing on Solana blockchain-based initial decentralized offerings IDOs, staking, and a decentralized exchange DEX aggregator.

Given the inherent risks and speculative nature of cryptocurrency investments, especially IDOs and volatile digital assets, this platform presents significant concerns from an ethical standpoint, particularly within an Islamic financial framework that prohibits Riba interest, Gharar excessive uncertainty/speculation, and Maysir gambling.

Overall Review Summary:

  • Ethical Compliance Islamic Perspective: Highly questionable due to involvement in cryptocurrency, IDOs, staking, and DEX trading, which often involve Riba, Gharar, and Maysir.
  • Transparency: Information regarding the team, audited smart contracts, and detailed risk disclosures is not immediately prominent on the homepage, raising concerns about full transparency.
  • Security: While claiming to be built on Solana, specific security audits or measures aren’t explicitly highlighted for immediate user assurance on the homepage.
  • User Experience: The homepage design appears relatively clean, but the underlying activities trading, IDOs are complex and high-risk.
  • Innovation: Focuses on the Solana ecosystem, which is a key area in DeFi, but the core activities remain within the speculative crypto sphere.
  • Legitimacy: The platform exists and operates, but its offerings fall into a high-risk category for investments, and the ethical implications are substantial.

The detailed explanation reveals that platforms like Solanium.io, while offering opportunities within the burgeoning Solana ecosystem, engage in activities that are fundamentally problematic from an Islamic perspective.

The emphasis on IDOs initial decentralized offerings means participation in new, often unproven, crypto projects that carry immense risk and uncertainty.

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Staking, which often involves earning returns on locked crypto assets, can resemble interest Riba if the returns are fixed or guaranteed without a direct productive endeavor.

Furthermore, involvement with decentralized exchanges DEXs for trading various cryptocurrencies exposes users to extreme price volatility and speculative practices, akin to gambling Maysir. Therefore, based purely on ethical and Islamic financial principles, engaging with Solanium.io is not recommended due to its involvement in speculative, interest-like, and highly uncertain financial instruments.

Here are some ethical and productive alternatives that align with Islamic principles:

  • Savings Accounts Halal: Look for financial institutions that offer Sharia-compliant savings accounts, often structured as Mudarabah or Murabaha, where returns are based on ethical, real-asset investments rather than interest.
  • Ethical Investment Funds: Seek out investment funds that specifically adhere to Sharia principles, avoiding industries like alcohol, gambling, conventional finance, and entertainment. These funds invest in real, productive assets and businesses.
  • Sustainable Agriculture Investments: Explore opportunities to invest in sustainable farming and agricultural projects. This aligns with productive economic activity and provides real societal value.
  • Real Estate Crowdfunding Sharia-Compliant: Some platforms offer Sharia-compliant real estate investment opportunities where investors co-own properties and share in rental income or property appreciation, avoiding interest-based financing.
  • Skill Development Courses: Invest in yourself or others through educational courses that enhance skills, leading to legitimate income generation and personal growth. Examples include coding bootcamps, digital marketing certifications, or vocational training.
  • Islamic Art & Calligraphy Tools: Instead of speculative digital assets, invest in materials or courses to learn and create Islamic art, which is both culturally rich and a permissible form of artistic expression.
  • Charitable Giving Platforms: Redirect funds towards reputable charitable organizations Zakat, Sadaqah that support education, healthcare, poverty alleviation, and other beneficial societal causes. This is a highly rewarded and ethical use of wealth.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

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IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Table of Contents

Solanium.io Review & First Look

When you first land on solanium.io, the immediate impression is one of a sleek, modern platform deeply embedded in the Solana blockchain ecosystem.

It positions itself as a launchpad for new projects, a staking platform, and a decentralized exchange DEX aggregator.

The visual design is clean, featuring bold graphics and clear calls to action for “Staking,” “Launchpad,” and “Decentralized Exchange.” However, a critical ethical assessment reveals significant red flags, primarily due to the nature of the activities it facilitates.

The Appeal of the Solana Ecosystem

Solana has gained considerable traction for its high throughput and low transaction fees, making it an attractive network for developers and users alike.

Solanium leverages this, aiming to be a central hub for new projects launching on Solana. Yogafordentists.net Review

The platform’s pitch is built on the promise of early access to promising projects and the potential for high returns through staking and trading.

This inherent focus on speculative digital assets, often with unpredictable valuations and no tangible underlying value, is a major concern.

Initial Observations on Transparency and Claims

While the website presents a professional facade, immediate transparency on crucial aspects like team details, physical address, comprehensive regulatory compliance, or detailed risk disclaimers is not overtly visible on the homepage.

This can be a concern for users seeking full accountability and understanding of the operational entity behind the platform.

The emphasis is heavily on the “opportunity” rather than the inherent risks and speculative nature, which is a common characteristic of platforms operating in the nascent and often unregulated cryptocurrency space. Thefairiespyjamas.com Review

The Allure of High Returns and Its Ethical Conflict

The platform highlights “Staking” as a way to earn rewards, a common feature in many blockchain projects.

While staking can conceptually resemble profit-sharing, in many crypto contexts, it involves locking up highly volatile digital assets to earn more of the same volatile assets.

The returns are often presented as percentages, which, without clear underlying productive assets and a direct profit-sharing model Mudarabah or Musharakah, can strongly resemble interest Riba. Furthermore, the “Launchpad” feature, which facilitates Initial Decentralized Offerings IDOs, is essentially a gateway to investing in unproven digital tokens.

These tokens are highly speculative, and their value is subject to extreme volatility, often driven by market sentiment rather than intrinsic value, making them fall under the category of excessive uncertainty Gharar and potentially gambling Maysir.

Understanding the Risks Associated with Solanium.io

Delving deeper into Solanium.io, it becomes clear that the platform, by its very design, exposes users to a multitude of risks that are particularly problematic from an ethical and Islamic financial perspective. Made4home.com Review

These risks are not unique to Solanium but are inherent in the broader decentralized finance DeFi and cryptocurrency ecosystem, which often operates outside the established regulatory frameworks and ethical guidelines.

The Volatility of Digital Assets

The primary assets traded and launched on Solanium are cryptocurrencies, which are notorious for their extreme price volatility. Unlike traditional investments based on real economic activity or tangible assets, the value of many cryptocurrencies is largely speculative, driven by market sentiment, hype, and unproven technologies. For instance, a cryptocurrency can lose 70-90% of its value in a matter of days or even hours, as seen during numerous “crypto winters” e.g., Bitcoin’s drop from nearly $69,000 in November 2021 to below $17,000 by late 2022. This kind of unpredictable and rapid fluctuation without a clear underlying productive basis is a clear manifestation of Gharar excessive uncertainty.

The Perils of Initial Decentralized Offerings IDOs

The “Launchpad” feature on Solanium.io allows users to participate in IDOs. IDOs are highly speculative crowdfunding events where new crypto projects issue their native tokens to early investors. While they promise high returns, the reality is often the opposite. Many IDO projects fail, prove to be scams, or simply do not gain traction, leading to significant or complete loss of investment. Data from various crypto research firms indicates that a large percentage of new tokens launched annually fail to provide positive returns, with many projects seeing their token values plummet by over 90% post-launch. This high failure rate and the lack of fundamental analysis typically available for traditional investments makes IDOs akin to gambling Maysir, where the outcome is largely a matter of chance rather than diligent research and productive investment.

Staking: A Form of Riba Interest?

Solanium offers staking opportunities where users lock their cryptocurrency assets to earn rewards.

While presented as a way to support network operations, the mechanics often resemble interest-bearing accounts. Safelaneglobal.com Review

If the returns are predetermined or guaranteed regardless of the underlying productive use of the asset, or if the “yield” is simply more of the same volatile asset, it bears a strong resemblance to Riba.

For example, a platform offering “10% APY on staked tokens” without a clear, ethical profit-sharing mechanism derived from real economic activity can be seen as an interest-based transaction, which is strictly prohibited in Islam.

Decentralized Exchange DEX Aggregation and Speculation

Solanium.io Ethical Standpoint: A Deep Dive into Islamic Finance Concerns

From an Islamic finance perspective, Solanium.io, like many cryptocurrency platforms, presents fundamental conflicts with Sharia principles.

The core activities facilitated by Solanium—initial decentralized offerings IDOs, staking, and decentralized exchange DEX aggregation—are fraught with elements of Riba interest, Gharar excessive uncertainty, and Maysir gambling, rendering participation problematic.

Riba Interest Concerns in Staking

Staking, as offered on Solanium.io, involves locking up digital assets to earn a return. Makewao.com Review

While some forms of staking might attempt to mimic profit-sharing in a Mudarabah or Musharakah contract, many implementations in the crypto world fall short.

If the “rewards” or “yield” are predetermined or guaranteed, or if they are simply more of the same digital asset without a clear, underlying productive economic activity and genuine profit-loss sharing, they can be considered Riba.

For example, if Solanium offered a fixed 8% annual return on staked SOL tokens, this fixed return on capital, without direct exposure to business profit or loss, is akin to conventional interest and is prohibited.

Many scholars view such arrangements critically due to the lack of tangible assets and the predetermined nature of returns.

Gharar Excessive Uncertainty in IDOs and Token Value

The “Launchpad” feature, which promotes IDOs, is a prime example of Gharar. Syklo.io Review

Investing in new, unproven digital tokens carries an extreme degree of uncertainty.

  • Lack of Tangible Value: Many tokens launched through IDOs lack intrinsic value or a clear, tangible asset backing them. Their value is often purely speculative, based on hype, future promises, and market sentiment rather recognise a concrete underlying business or product.
  • Project Failure Rates: A significant number of IDO projects fail to deliver on their promises or simply collapse, leading to total loss for investors. The probability of success is often low, and the information available to investors is frequently insufficient to make an informed, non-speculative decision. This excessive uncertainty about the outcome makes IDOs highly questionable from an Islamic finance standpoint.

Maysir Gambling in Speculative Trading

The DEX aggregation feature encourages frequent trading of highly volatile cryptocurrencies.

This activity, when driven by speculative motives rather than long-term, value-based investment, strongly resembles Maysir gambling.

  • Zero-Sum Game: In many speculative trading scenarios, one party’s gain is directly another party’s loss, reflecting a zero-sum game akin to gambling.
  • Lack of Productivity: The primary aim of such trading is to profit from price fluctuations, not from productive economic activity or the creation of real wealth. It’s about betting on price movements.
  • Emotional Decision-Making: The high volatility and rapid pace of crypto trading often lead to impulsive, emotionally driven decisions rather than reasoned investment strategies, further pushing it into the domain of gambling. While some forms of trading are permissible, the highly speculative nature of crypto trading on platforms like Solanium makes it extremely difficult to avoid Maysir.

Absence of Ethical Screening and Productive Economy Link

Unlike Sharia-compliant investment vehicles that screen companies for ethical practices e.g., avoiding alcohol, gambling, arms, conventional finance and focus on investments in the real economy, Solanium.io makes no mention of such ethical screening.

The primary focus is on digital assets and their price movements, detaching investment from the production of goods and services that benefit society. Glasgowtradesales.com Review

Islamic finance emphasizes linking financial transactions to the real economy and productive ventures.

Solanium.io Alternatives

Given the significant ethical and financial concerns associated with Solanium.io and similar cryptocurrency platforms, it’s crucial to explore legitimate and ethically sound alternatives for wealth growth and financial planning.

These alternatives prioritize real economic activity, transparency, and adherence to Islamic financial principles, avoiding Riba, Gharar, and Maysir.

1. Wahed Invest

  • Key Features: Wahed Invest is a Sharia-compliant robo-advisor and investment platform. It offers diversified portfolios across various asset classes, including Sukuk Islamic bonds, global equities, and real estate, all screened for ethical compliance. It automates investment based on user risk tolerance and Islamic principles.
  • Price: Management fees typically range from 0.49% to 0.99% annually, depending on the asset under management.
  • Pros: Fully Sharia-compliant, easy to use, diversified portfolios, low minimum investment, global accessibility. Regulated in multiple jurisdictions.
  • Cons: Limited customization of portfolios, fees can be higher than traditional index funds due to specialized screening.
  • Wahed Invest

2. Amana Mutual Funds Trust

  • Key Features: Amana Mutual Funds are a family of mutual funds managed by Saturna Capital, known for their strict adherence to Islamic investment principles. They invest in companies that meet specific financial and ethical criteria, avoiding industries such as alcohol, tobacco, gambling, conventional banking, and pornography.
  • Price: Expense ratios vary by fund, generally ranging from 0.88% to 1.09%.
  • Pros: Long track record, strong performance in specific funds, managed by experienced professionals, transparent ethical screening.
  • Cons: Higher expense ratios than typical passive index funds, limited to specific fund offerings.
  • Amana Mutual Funds

3. Freddie Mac Sukuk Offerings

  • Key Features: While not a direct investment platform, Freddie Mac has historically issued Sukuk Islamic bonds which are Sharia-compliant financial certificates representing ownership in tangible assets. Investing in Sukuk is a way to earn a return that is asset-backed and structured to avoid interest.
  • Price: Varies by issuance, typically bought through brokers or direct offerings.
  • Pros: Represents ownership in real assets, avoids Riba, generally considered a more stable investment than highly volatile assets.
  • Cons: Not always readily available to individual investors, requires access through specific financial institutions, returns are generally lower than speculative investments.
  • Freddie Mac Note: Direct purchase may require specific broker access

4. Halal Stock Screeners e.g., Islamicly

  • Key Features: While not an investment platform itself, services like Islamicly provide comprehensive stock screening to ensure individual stocks meet Sharia compliance criteria. This allows users to build their own Sharia-compliant portfolios through traditional brokerage accounts.
  • Price: Subscription fees for screening services vary, often around $10-$20 per month or annual plans.
  • Pros: Empowers individual investors, allows for building customized portfolios, provides detailed compliance reports for thousands of stocks.
  • Cons: Requires users to open a separate brokerage account and manage investments themselves, requires understanding of stock market.
  • Islamicly

5. Ethical Real Estate Investment Direct or Crowdfunding

  • Key Features: Investing in physical real estate residential or commercial or participating in Sharia-compliant real estate crowdfunding platforms. This involves direct ownership of tangible assets and earning rental income or capital appreciation, structured to avoid interest-based financing.
  • Price: Varies widely, from tens of thousands for direct property to hundreds or thousands for crowdfunding participation.
  • Pros: Tangible asset, potential for stable income rent, builds equity, diversification from traditional markets.
  • Cons: Can be illiquid, high entry barriers for direct ownership, requires due diligence.
  • Real Estate Investment For learning or search for “Sharia-compliant real estate crowdfunding” platforms.

6. Small Business Investments Direct

  • Key Features: Directly investing in or starting a small, ethical business. This aligns perfectly with Islamic finance principles by engaging in productive economic activity, sharing in profits and losses, and contributing to the real economy.
  • Price: Highly variable, depending on the business type and scale.
  • Pros: Direct control, potential for significant returns from successful ventures, creates jobs, contributes to community.
  • Cons: High risk, requires significant time and effort, illiquid investment.
  • Small Business Investment

7. Productive Skills Development and Tools

  • Key Features: Investing in yourself through education and skill development, or investing in tools that enable productive work. This includes online courses, certifications, vocational training, or acquiring high-quality tools for a trade. The return on investment here is enhanced earning potential and personal growth.
  • Price: Varies from free online resources to thousands of dollars for specialized courses or equipment.
  • Pros: Increases human capital, leads to tangible income through ethical work, fosters lifelong learning.
  • Cons: Requires time and effort, not a direct financial return in the same way as asset investment.
  • Online Learning Platforms e.g., Coursera, Udemy, MasterClass or Professional Tools related to your chosen field.

These alternatives provide pathways to building wealth and engaging in financial activities that are both productive and ethically sound, starkly contrasting with the speculative and often problematic nature of platforms like Solanium.io.

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Solanium.io vs. Ethical Investment Frameworks

Comparing Solanium.io with established ethical investment frameworks, particularly those rooted in Islamic finance, highlights significant divergences.

Solanium.io’s Operational Model

Solanium.io primarily functions as a launchpad for Initial Decentralized Offerings IDOs, a platform for staking cryptocurrencies, and a decentralized exchange DEX aggregator.

Each of these components, while technologically innovative, carries inherent risks and ethical concerns:

  • IDOs: These are highly speculative, unregulated crowdfunding events for new, often unproven digital tokens. The vast majority fail, leading to significant investor losses. This aligns with Maysir gambling and excessive Gharar uncertainty.
  • Staking: The mechanism often involves locking up volatile digital assets to earn more of the same, with returns sometimes resembling Riba interest if they are fixed or guaranteed without a genuine profit-loss sharing agreement tied to productive assets.
  • DEX Aggregation: Facilitates the trading of highly volatile cryptocurrencies, driven by speculation rather than fundamental value, again touching on Maysir and Gharar.

Ethical Investment Frameworks e.g., Islamic Finance

In contrast, ethical investment frameworks, such as Islamic finance, operate under strict principles:

  • Prohibition of Riba Interest: All financial transactions must be free from interest. Instead, profit-and-loss sharing Mudarabah, Musharakah or asset-backed financing Murabaha, Ijarah are used. Staking mechanisms on Solanium often fail this test.
  • Avoidance of Gharar Excessive Uncertainty: Investments must have reasonable certainty regarding their underlying assets, contractual terms, and outcomes. Highly speculative assets, unknown risks, and insufficient disclosure are prohibited. IDOs and the extreme volatility of crypto assets on Solanium are clear examples of Gharar.
  • Prohibition of Maysir Gambling: Any transaction where gain depends purely on chance, without productive effort or clear risk sharing, is forbidden. Speculative trading of crypto assets, where success is often based on predicting unpredictable price movements, falls under Maysir.
  • Investment in Permissible Assets: Investments must be in sharia-compliant industries and assets e.g., real estate, ethical businesses, tangible goods, avoiding sectors like alcohol, gambling, pornography, conventional finance, and arms manufacturing. Cryptocurrencies themselves are a subject of debate, but their application on platforms like Solanium often leads to non-permissible activities.
  • Social Responsibility: Ethical investments often emphasize positive societal impact and economic justice, linking financial activities to the real economy. Solanium’s focus on digital assets often lacks this direct link to productive economic activity.

The Stark Contrast

The fundamental difference lies in the underlying philosophy. Briantcomms.com Review

Solanium.io is built on the premise of leveraging technological innovation for financial gain within a decentralized, often unregulated, and inherently speculative digital asset market.

Ethical investment frameworks, conversely, are built on principles of justice, risk-sharing, and direct engagement with the real economy, explicitly avoiding elements that exploit uncertainty or involve predetermined interest.

Therefore, a platform like Solanium.io, despite its technological sophistication, remains incompatible with the rigorous requirements of ethical investment due to its pervasive engagement with Riba, Gharar, and Maysir.

This makes it an unsuitable choice for those seeking to build wealth in accordance with responsible and religiously compliant principles.

Frequently Asked Questions

What is Solanium.io?

Solanium.io is a platform built on the Solana blockchain that functions as a launchpad for Initial Decentralized Offerings IDOs, a staking platform for cryptocurrencies, and a decentralized exchange DEX aggregator. Sociallaboratory.io Review

It aims to provide users with access to new Solana-based projects and opportunities for crypto trading and earning.

Is Solanium.io legitimate?

Yes, Solanium.io is an operational platform within the cryptocurrency ecosystem.

However, its legitimacy from an ethical or regulatory standpoint is highly questionable due to the inherent risks and speculative nature of cryptocurrency, IDOs, and staking, which can involve elements of gambling Maysir and excessive uncertainty Gharar.

What are the main features of Solanium.io?

The main features of Solanium.io include a Launchpad for new crypto projects IDOs, a staking mechanism for earning rewards on cryptocurrencies, and a Decentralized Exchange DEX aggregator for trading various digital assets.

What are Initial Decentralized Offerings IDOs on Solanium.io?

IDOs on Solanium.io are a method for new cryptocurrency projects to raise funds by offering their tokens to early investors. Shawfloors.com Review

Users on Solanium.io can participate in these offerings, which are often highly speculative and carry significant risk due to the unproven nature of many new projects.

Is staking on Solanium.io permissible in Islam?

Staking on platforms like Solanium.io often raises concerns regarding Riba interest in Islam.

If the returns are predetermined or guaranteed, or if they are merely more of the same volatile digital asset without clear underlying productive activity and genuine profit-loss sharing, they can be considered a form of interest.

What are the risks of using Solanium.io?

The primary risks of using Solanium.io include extreme price volatility of digital assets, high failure rates and potential for scams with IDO projects, regulatory uncertainty in the crypto space, and the speculative nature of trading which can resemble gambling Maysir.

How does Solanium.io handle security?

While Solanium.io operates on the Solana blockchain, details about specific security audits of its smart contracts or comprehensive measures to protect user funds were not prominently displayed on the homepage. Move24.com Review

Users should exercise caution and research further into the platform’s security practices.

Does Solanium.io offer any guarantees on returns?

No, platforms dealing with volatile digital assets like Solanium.io do not offer guarantees on returns.

Any potential gains are subject to market fluctuations, project success, and other unpredictable factors.

Claims of high “APY” in staking should be viewed with extreme caution as they do not constitute guarantees.

What are some ethical alternatives to Solanium.io?

Ethical alternatives to Solanium.io include Sharia-compliant investment platforms like Wahed Invest or Amana Mutual Funds, investing in Sukuk Islamic bonds, direct ethical real estate investments, or directly investing in or starting small, ethical businesses. Francoisesaget.com Review

Can I cancel my Solanium.io account or participation?

Solanium.io typically does not involve subscriptions in the traditional sense.

Participation in IDOs or staking involves committing funds.

To “cancel” involvement, you would typically need to withdraw your staked assets or sell any acquired tokens on a decentralized exchange.

The process for withdrawing assets depends on the specific smart contract and platform functionality.

Is Solanium.io regulated?

The regulatory status of platforms like Solanium.io in the decentralized finance DeFi space is often ambiguous. Freeupmobile.com Review

They operate in a largely unregulated environment, which contributes to the risks associated with using such platforms and offers limited recourse for users in case of issues.

What kind of assets are traded on Solanium.io’s DEX aggregator?

Solanium.io’s DEX aggregator facilitates the trading of various SPL tokens, which are standard tokens on the Solana blockchain.

These include newly launched project tokens and other established cryptocurrencies within the Solana ecosystem.

What are the fees associated with Solanium.io?

Solanium.io may charge fees for participating in IDOs, staking withdrawals, or trading activities on its DEX aggregator.

These fees typically manifest as network transaction fees Solana gas fees and platform-specific service charges, which are usually outlined within the platform’s user interface. Muslimmarriageeventsuk.com Review

Is Solanium.io suitable for beginners in crypto?

No, Solanium.io is generally not suitable for beginners.

The platform deals with complex and highly speculative activities like IDOs and active crypto trading, which require a deep understanding of blockchain technology, market dynamics, and significant risk tolerance.

How does Solanium.io compare to other crypto launchpads?

Solanium.io functions similarly to other crypto launchpads, providing a platform for new projects to raise capital and for users to get early access to tokens.

Its main distinction is its focus on the Solana ecosystem.

However, the inherent ethical issues common to all such platforms remain.

What is the underlying technology of Solanium.io?

Solanium.io is built on the Solana blockchain, leveraging its high transaction throughput and low fees.

This means that all activities on the platform are processed on the Solana network, using SOL as the native cryptocurrency for gas fees.

Can I lose all my money on Solanium.io?

Yes, it is entirely possible to lose all your money on Solanium.io.

Investments in IDOs can become worthless, staked tokens can lose significant value, and active trading can result in substantial losses due to market volatility or unfavorable trades.

Does Solanium.io have a mobile app?

The homepage of Solanium.io does not explicitly mention a dedicated mobile application.

Users typically access decentralized finance DeFi platforms through web browsers, often using Web3-enabled wallets.

How does Solanium.io generate revenue?

Solanium.io likely generates revenue through various mechanisms, including fees on IDO participation, staking rewards taking a percentage of the yield, and potentially trading fees generated through its DEX aggregator.

What are the community aspects of Solanium.io?

Like many DeFi projects, Solanium.io likely has a community presence on platforms like Telegram, Discord, and Twitter, where users can discuss projects, provide feedback, and stay updated on platform developments.

However, this doesn’t mitigate the financial and ethical risks.



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