Altbase
Crypto Overview
Overview
Altbase is a mobile application and platform designed to facilitate the trading of alternative cryptocurrencies (altcoins). The ALTB token is the native cryptocurrency of the Altbase ecosystem, initially launched on the Binance Smart Chain.
Purpose and Utility
The stated purpose of ALTB is to serve as a utility token within the Altbase ecosystem, providing trading fee discounts and governance rights. The platform aims to make altcoin trading more accessible to mainstream users through a mobile-first approach.
Business Model Analysis
The platform generates revenue through trading fees and token listings. The business model appears transparent and straightforward, focusing on cryptocurrency exchange services. No evidence was found of involvement in impermissible activities such as interest-based lending or gambling.
Real-World Adoption
Current adoption appears limited, with moderate trading volumes. The mobile application is available on app stores, though user metrics are not publicly available.
Development Activity
Development activity appears to be ongoing, though at a moderate pace. Updates to the platform and mobile application are periodically released.
Token Distribution
The token distribution details are not readily available in recent documentation, which creates some transparency concerns. However, this alone does not make the token impermissible from a Shariah perspective.
Revenue Model and Technology
The revenue model is primarily based on trading fees and does not involve interest-based mechanisms. The technology facilitates direct peer-to-peer trading of digital assets.
Crypto Impact
To assign a comfort level investing in Altbase from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Altbase.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.