Echelon Prime

Halal Rating :
Comfortable
Last Price $13.6 Last updated:
Rank 155
1D Change -4.09 %
Market Cap $485.06m
Circulating supply 35,773,841
Maximum supply 111,111,112
Crypto Overview Crypto Impact

Crypto Overview

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Overview

Echelon Prime (PRIME) is the native token of the Echelon blockchain, a proof-of-stake network built using the Cosmos SDK. The project aims to provide a platform for decentralized applications with a focus on cross-chain interoperability.

Purpose and Utility

The PRIME token serves multiple functions within the Echelon ecosystem: network security through staking, governance participation, and transaction fee payments. Validators and delegators can stake PRIME tokens to secure the network and earn rewards from transaction fees and block rewards.

Business Model Analysis

The core functionalities of Echelon Prime align with halal principles as they involve actual asset ownership and provide legitimate utility through network security and governance. The project does not inherently facilitate any prohibited activities like gambling or interest-based lending.

Development and Adoption

The project maintains active development on GitHub and has implemented core features like staking and governance. While adoption metrics are modest, this is not a concern from a Sharia compliance perspective as the fundamental utility remains valid.

Token Distribution

The token distribution includes allocations for staking rewards, development, and ecosystem growth. While detailed vesting schedules are not publicly available, this does not impact the fundamental halal nature of the token's utility.

Crypto Impact

To assign a comfort level investing in Echelon Prime 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 Echelon Prime.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

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