Fantom USD
Crypto Overview
Overview
Fantom USD (FUSD) was designed as an algorithmic stablecoin on the Fantom blockchain, intended to maintain a 1:1 peg with the US Dollar. The project appears to be defunct as of 2023, with no active development or usage.
Purpose and Utility
The intended purpose was to serve as a stablecoin for the Fantom ecosystem, enabling transactions and providing a stable store of value. However, the project failed to gain adoption and is no longer actively maintained.
Business Model Analysis
The original mechanism involved collateralization and algorithmic stabilization to maintain the dollar peg. Due to the project's inactive status, there is no current business model to evaluate.
Real-World Adoption
The token shows virtually no trading activity or adoption as of 2023. The project's social media channels and development repositories are inactive.
Platform Development
There is no current development activity. The project appears to have been abandoned.
Token Distribution and Governance
Information about token distribution is limited due to the project's inactive status. The project's governance structure is no longer relevant as the token is effectively defunct.
Crypto Impact
To assign a comfort level investing in Fantom USD 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 Fantom USD.
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.