Magic Square
Crypto Overview
Purpose and Utility
Magic Square is developing a crypto app store and ecosystem that aims to make Web3 applications more accessible to users through a unified platform. The SQR token serves as the native currency within this ecosystem, used for governance, rewards, and accessing premium features.
Business Model Analysis
The platform functions as a decentralized marketplace for crypto applications, with the SQR token playing a central role in incentivizing quality content and user participation. Developers can list their apps, and users can discover and access Web3 services through a familiar app store interface. The business model appears transparent and focused on legitimate utility.
Platform Development & Adoption
The project shows active development with regular updates to their platform. They have launched their app store in beta and maintain partnerships with various blockchain projects. The ecosystem includes features like Magic Store (app marketplace), Magic Spaces (customizable workspaces), and Magic Bridge (cross-chain solutions).
Token Distribution and Governance
The SQR token has a defined distribution model with allocations for ecosystem development, team, and community initiatives. While detailed vesting schedules are implemented, specific percentages of founder holdings would require current data from their official documentation.
Crypto Impact
To assign a comfort level investing in Magic Square 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 Magic Square.
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.