Futureswap
Crypto Overview
Project Overview
Futureswap is a decentralized exchange (DEX) protocol that introduced the FST token in 2023. The token serves primarily as a governance and utility token within the Futureswap ecosystem, where holders can participate in protocol decisions and receive certain benefits.
Purpose and Utility
The FST token's primary functions include: Protocol governance - Token holders can vote on protocol upgrades and parameters, Revenue sharing - FST stakers receive a portion of protocol fees, Access to platform features.
Business Model Analysis
The platform operates as a decentralized exchange focusing on perpetual futures trading. While the base protocol functionality of asset exchange is halal, the perpetual futures trading aspect raises concerns as it involves leveraged trading mechanisms that can function similarly to gambling.
Development and Adoption
The project maintains active development, with regular updates to the protocol. However, the primary use case remains focused on perpetual futures trading.
Token Distribution
The token distribution includes allocations to team members, early investors, and the community, with vesting schedules in place. While the distribution model appears standard for the industry, the underlying protocol's focus on leveraged trading is problematic from a Shariah perspective.
Crypto Impact
To assign a comfort level investing in Futureswap 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 Futureswap.
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.