Matrixdock Gold
Crypto Overview
Overview
Matrixdock Gold (XAUM) is a cryptocurrency that aims to provide a tokenized representation of physical gold on the blockchain. Each XAUM token is claimed to be backed by 1 gram of physical gold stored in secure vaults.
Purpose and Utility
The primary stated purpose is to offer a digital way to own and trade gold while maintaining the benefits of blockchain technology such as 24/7 trading, fractional ownership, and easy transferability. The project claims to bridge traditional gold markets with decentralized finance.
Business Model
The business model involves custody of physical gold and issuance of corresponding tokens. Revenue appears to be generated through transaction fees and custody services. The model itself doesn't involve any inherently prohibited activities like interest-based lending or gambling.
Real-World Adoption
There is limited publicly available information about current adoption levels or trading volumes for XAUM. The project appears to be in its early stages of development and market penetration.
Token Distribution
Detailed information about token distribution and vesting schedules is not readily available in public sources, which creates some transparency concerns. However, this alone does not make the project haram.
Crypto Impact
To assign a comfort level investing in Matrixdock Gold 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 Matrixdock Gold.
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.