EXMO Coin
Crypto Overview
Purpose and Utility
EXMO Coin (EXM) is the native utility token of the EXMO cryptocurrency exchange platform. Its primary intended use cases include: trading fee discounts on the EXMO exchange, participation in platform governance decisions, and access to special features and services within the EXMO ecosystem.
Business Model Assessment
The business model centers around providing utility within a centralized cryptocurrency exchange. The core activities involve facilitating cryptocurrency trading, which constitutes a legitimate exchange of assets. The platform does not explicitly promote or focus on impermissible activities like gambling or interest-bearing loans.
Real-World Adoption
EXMO Coin is actively used within the EXMO exchange ecosystem, primarily for trading fee discounts. While adoption is limited mostly to EXMO exchange users, this represents genuine utility within its intended scope.
Development Activity
The development activity appears focused on maintaining and improving the EXMO exchange platform rather than the token itself, which is appropriate given its role as a utility token for the exchange.
Token Distribution and Governance
The token distribution information is not publicly detailed, which creates some opacity in assessing the concentration of ownership. However, this lack of transparency does not automatically indicate misalignment with Islamic principles as long as the underlying utility remains legitimate.
Crypto Impact
To assign a comfort level investing in EXMO Coin 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 EXMO Coin.
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.