Star Network is a self-described "social DeFi (decentralized finance) network" that claims to allow users to earn a digital currency called "Star" through the Star Network mobile app.
Use Referral code cryptomizstar
Here's how it supposedly works:
- Users download the Star Network app and create an account. They can then initiate 24-hour "earning sessions" within the app.
- During these sessions, users supposedly earn Stars just for having the app open and running. The rate at which they earn Stars is influenced by factors like inviting new users through a referral system.
- The app also has features like "Power-ups" that can temporarily boost a user's earning rate through a lucky draw system.
- Users can supposedly store their earned Stars in the app's built-in wallet and eventually transfer them peer-to-peer or exchange them once Stars are listed on crypto exchanges.
However, there are several red flags and criticisms raised about Star Network:
- Stars do not actually exist on any public blockchain, raising questions about their legitimacy as a cryptocurrency.
- The project has anonymous founders and a vague whitepaper, lacking technical details.
- Earning rates are heavily dependent on recruiting new users through referrals, which is characteristic of pyramid/Ponzi schemes.
- There are reports that Stars cannot actually be withdrawn or exchanged currently.
- The project's claims about future exchange listings and blockchain integration remain unproven.
So in summary, while Star Network claims to offer a way to "earn crypto" through its app, its model and lack of transparency have led many to be skeptical of whether the Stars have any real value or utility as a cryptocurrency.
Use Referral code cryptomizstar