Glitch
Crypto Overview
Purpose and Utility
Glitch Protocol aims to be a blockchain platform specifically designed for decentralized finance (DeFi) applications, with a focus on low transaction fees and high throughput. The GLCH token serves as the native currency for the network and is used for governance, staking, and transaction fees.
Business Model Evaluation
The platform's core functionality revolves around providing infrastructure for DeFi applications. While some DeFi applications can involve interest-bearing products or lending, the platform itself is neutral infrastructure that can be used for both permissible and impermissible activities.
Real-World Adoption and Usage
The project has shown limited adoption thus far. Development activity appears to have slowed significantly since 2021, with minimal recent updates to their GitHub repositories or social media channels.
Token Distribution and Vesting
Initial token distribution allocated 45% to the ecosystem and community, 20% to the team and advisors, 15% to private sale, 10% to public sale, and 10% to reserves. Team tokens had a vesting schedule of 24 months.
Technology and Revenue Model
The platform uses a Proof of Stake consensus mechanism for network security and validation. Transaction fees are paid in GLCH tokens and distributed to network validators.
Crypto Impact
To assign a comfort level investing in Glitch 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 Glitch.
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.