AshSwap
Crypto Overview
Overview
AshSwap is a decentralized exchange (DEX) built on the MultiversX (formerly Elrond) blockchain. It specializes in stable asset swaps with minimal slippage and aims to provide efficient liquidity solutions.
Purpose and Utility
AshSwap's primary function is to facilitate decentralized trading of stable assets. The ASH token serves as the protocol's governance token, allowing holders to participate in decision-making processes regarding protocol parameters and future development.
Business Model
The platform generates revenue through trading fees from swap operations. The business model is transparent and straightforward, focusing on providing liquidity and exchange services. There is no evidence of involvement in impermissible activities like interest-based lending or gambling.
Development and Adoption
The project maintains active development on the MultiversX blockchain, with regular updates to their smart contracts and user interface. While adoption is still in early stages, this does not impact its Sharia compliance assessment.
Token Distribution
The token distribution appears reasonable, with allocations for liquidity provision, development, and community incentives. There are vesting periods in place for team tokens, indicating a long-term commitment to the project.
Crypto Impact
To assign a comfort level investing in AshSwap 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 AshSwap.
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.