DegenX
Crypto Overview
Project Overview
DegenX (DGNX) is a decentralized cryptocurrency project launched on the BNB Chain. The project aims to create a sustainable DeFi ecosystem that includes a DEX aggregator, wallet tracking tools, and investment management features.
Utility Assessment
The primary utilities of DGNX include: governance rights over the protocol, access to premium features in their DeFi tools, and revenue sharing from protocol fees. The token serves as the native currency within their ecosystem.
Business Model Analysis
The project generates revenue through trading fees from their DEX aggregator and premium subscriptions for their DeFi tools. This business model is transparent and does not inherently involve prohibited activities like interest-based lending or gambling.
Development Activity
The project maintains active development, with regular updates to their platform and tools. The team consistently delivers on their roadmap items, showing commitment to building actual utility.
Token Distribution
The token distribution shows a balanced allocation with vesting periods for team tokens. There are anti-whale mechanisms in place to prevent market manipulation.
Current Usage
The platform has an active user base utilizing their DEX aggregator and trading tools, though adoption is still in early stages. The actual usage aligns with the stated purposes of the token.
Crypto Impact
To assign a comfort level investing in DegenX 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 DegenX.
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.