Charged Particles
Crypto Overview
Overview
Charged Particles is a protocol built on Ethereum that aims to allow users to deposit ERC-20 tokens into NFTs, essentially creating interest-bearing NFTs. The protocol enables NFTs to be 'charged' with other digital assets.
Purpose and Utility
The primary stated purpose is to create 'interest-bearing' NFTs by allowing users to deposit tokens into NFTs which can then generate yield through various DeFi protocols. The IONX token is used for governance of the protocol and as a utility token within the ecosystem.
Business Model Analysis
The core business model revolves around DeFi lending and yield generation, which involves interest-bearing mechanisms that are fundamentally not aligned with Islamic finance principles. The protocol's main utility is built around the concept of generating yield through lending, which is not permissible unless done as an act of charity.
Development and Adoption
While the project shows active development and has a working product, its primary use case remains centered around yield generation through lending mechanisms. The protocol has partnerships with various DeFi platforms, all primarily focused on yield generation.
Token Distribution and Governance
The IONX token serves as a governance token for the protocol, allowing holders to participate in decision-making regarding protocol parameters and updates.
Crypto Impact
To assign a comfort level investing in Charged Particles 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 Charged Particles.
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.