Chainge
Crypto Overview
Overview
Chainge is a DeFi platform that aims to provide cross-chain functionality and decentralized financial services. The XCHNG token is the native cryptocurrency of the Chainge ecosystem, built on the FUSION blockchain.
Purpose and Utility
The primary intended use cases for XCHNG include: Governance rights for the Chainge protocol, Payment of transaction fees on the platform, Rewards for liquidity providers and staking participants, Cross-chain transfers and settlements.
Business Model Analysis
The core business model revolves around facilitating cross-chain operations and DeFi services. However, a significant portion of these services involve interest-bearing products and lending protocols, which raises concerns from an Islamic finance perspective.
Real-World Adoption
The platform has achieved some adoption within the DeFi space, with active users utilizing its cross-chain bridge and trading functionalities. However, the primary usage appears to be centered around lending and borrowing activities.
Development Activity
The project maintains regular development activity with ongoing updates to its protocol and features. The team appears to be actively working on expanding cross-chain capabilities and improving the platform's infrastructure.
Token Distribution
The token distribution information is publicly available, with allocations to the team, development fund, and community. Vesting schedules are in place for team tokens.
Crypto Impact
To assign a comfort level investing in Chainge 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 Chainge.
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.