Kylin
Crypto Overview
Purpose and Utility
Kylin Network aims to provide a decentralized data infrastructure for the DeFi and Web3 ecosystem. The KYL token is designed to be used for governance, staking, and accessing data services on the platform. The project intends to build a cross-chain platform that enables data analytics, data trading, and oracle services.
Business Model Analysis
The business model centers around providing data services and analytics in a decentralized manner. Users can either provide data to the network or consume data services using KYL tokens. The model appears to align with halal principles as it involves the exchange of real value (data services) and does not inherently involve prohibited activities.
Adoption and Usage
Current adoption appears to be limited, with most token activity occurring on exchanges. While the project has established some partnerships within the blockchain ecosystem, particularly in the Polkadot network, real-world usage of the data services remains in early stages.
Platform Development
Development activity can be observed on the project's GitHub repositories, though at a moderate pace. The team continues to work on the technical infrastructure and has released updates to their testnet.
Token Distribution
The token distribution includes allocations for team members and early investors with standard vesting periods. The project maintains transparency regarding token allocations and vesting schedules.
Crypto Impact
To assign a comfort level investing in Kylin 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 Kylin.
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.