LocalTrade
Crypto Overview
Project Overview
LocalTrade (LTT) is a utility token that functions within the LocalTrade ecosystem, which includes a cryptocurrency exchange and a platform for crypto banking services. The token was created to power various features within the LocalTrade platform, including reduced trading fees, participation in platform governance, and access to certain premium features.
Utility Assessment
The primary utilities of LTT include: Exchange fee discounts when paying with LTT tokens, Governance participation rights, Staking rewards for platform stability, Access to premium features on the LocalTrade platform.
Business Model Evaluation
The core business model revolves around providing cryptocurrency exchange services and crypto banking features. The platform appears to generate revenue through trading fees, premium service subscriptions, and other platform-related services. The basic exchange functionality aligns with halal principles as it facilitates the exchange of digital assets.
Development and Adoption
The project shows modest development activity and maintains regular updates to its platform. While the adoption metrics are not particularly high compared to major exchanges, this is not a concern from a Sharia compliance perspective.
Crypto Impact
To assign a comfort level investing in LocalTrade 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 LocalTrade.
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.