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Quite decentralized, the community is very engage and DeFi maxis, most of the DeFI is hosted in the IPFS for security and censorship resistance.
The Liquidity Pools for the blue chips like PLS are well funded and battle tested for over a year.
A measure of decentralization is the number of nodes (in the case of an EVM POS you use the term VALIDATORS).
As of know pulsechain has over 48K active validators
You can check the status of the validators live on the following link:
Compare the number of validators with the number of nodes in chains like Bitcoin or Ethereum or Monero, you will find that is decentralized enough by comparison.
Important to know that this chain is and have been demonized by many haters in the crypto community, never a boring day. But if you ignore the childish behavior of most maxis from any chain, mute them (less non sense emotional noise) you will end up appreciating innovation in many chains and massive opportunities to build wealth.
Just remember to DYOR, there are many scammers in all chains, some of those scammers are the same ones that call everyone else scammer while selling you their bags and dumping on your head.