zkRace
Crypto Overview
Intended Utility Analysis
zkRace (DERC) is a cryptocurrency token associated with zkRace, a decentralized racing prediction and strategy platform built on Base, which is an Ethereum Layer 2 scaling solution. The token's primary intended utility is to serve as a medium of exchange and governance token within the zkRace ecosystem.
Project Analysis
The platform aims to merge gaming with blockchain technology, where users participate in race prediction and strategy activities. The DERC token is used for governance voting, platform participation, and rewards distribution. The token launched in Q1 2024 with initial distribution through an airdrop to early platform users.
Ecosystem Development
The project shows active development with regular updates to its platform and smart contracts. The team maintains transparency through public documentation and community engagement. However, detailed information about token distribution, vesting schedules, and team allocation remains limited.
Current Usage Analysis
On-chain data indicates the token is primarily being used for its intended purposes within the zkRace platform, though trading activity on decentralized exchanges represents a significant portion of token movement. The platform demonstrates genuine utility through its racing prediction and strategy mechanics, but the gambling-like aspects of race prediction raise concerns from a Shariah perspective.
Crypto Impact
To assign a comfort level investing in zkRace 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 zkRace.
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.