Circuits of Value
Crypto Overview
Project Overview
Circuits of Value (COVAL) is a cryptocurrency project that aims to facilitate the creation and transfer of 'Emblem Vaults' - digital containers that can hold multiple different cryptocurrencies and NFTs in a single transferable token. The project was launched in 2016 but gained more attention in 2021 with its Emblem Vault functionality.
Purpose and Utility
The primary utility of COVAL is powering the Emblem Vault system, which allows users to package multiple crypto assets into a single transferable NFT. This has practical applications in reducing gas fees for bulk transfers and creating tradeable portfolios of digital assets.
Business Model
The business model revolves around providing a service for cryptocurrency users to bundle and transfer multiple assets efficiently. The platform charges nominal fees in COVAL for creating and transferring vaults. This model appears transparent and does not involve inherently prohibited activities like interest-based lending or gambling.
Adoption and Usage
The project has demonstrated real utility with its Emblem Vault system being actively used for bundling and transferring crypto assets. While adoption remains relatively modest compared to larger platforms, there is evidence of genuine usage for its intended purpose.
Development Activity
The project maintains active development, with regular updates to the Emblem Vault platform. The team continues to implement improvements and new features, indicating ongoing commitment to the project's utility.
Token Distribution
COVAL's token distribution appears relatively decentralized, with no concerning concentration in founder or developer wallets that might suggest a scheme to enrich founders.
Crypto Impact
To assign a comfort level investing in Circuits of Value 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 Circuits of Value.
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.