HedgeTrade
Crypto Overview
Purpose and Utility
HedgeTrade is a blockchain-powered platform designed to create a social trading ecosystem where experienced traders can monetize their trading predictions by selling them to other users. The HEDG token is used as the platform's native currency for purchasing and selling trading predictions.
Business Model Evaluation
The platform operates by allowing traders to stake HEDG tokens when making predictions. If the prediction is correct, they earn rewards from users who purchased their predictions. If incorrect, they lose their staked tokens which are distributed to the prediction buyers.
Real-World Adoption
The platform has experienced limited adoption since its launch. Current usage primarily revolves around trading activities and prediction markets.
Development Activity
Development activity appears minimal based on public GitHub repositories. The project's social media presence and community engagement have also decreased significantly since 2021.
Token Distribution
Information about token distribution and vesting schedules is not readily available in public documentation, which raises transparency concerns.
Technology Assessment
The core functionality revolves around a prediction marketplace, which essentially operates as a betting platform where users stake tokens on market movements.
Crypto Impact
To assign a comfort level investing in HedgeTrade 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 HedgeTrade.
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.