NASDEX
Crypto Overview
Overview and Purpose
NASDEX (NSDX) is a decentralized trading platform that aims to allow users to trade synthetic assets that track real-world stocks and cryptocurrencies. The NSDX token is designed to serve as both a governance token and utility token within the NASDEX ecosystem.
Business Model Analysis
From the available information, NASDEX appears to implement a derivatives trading model where users can gain exposure to traditional financial markets through synthetic assets. The platform aims to enable access to stock market exposure through crypto, though current adoption and usage metrics are limited.
Development and Platform Activity
Research indicates very limited recent development activity. The project's social media channels and GitHub repositories show minimal updates. This suggests the project may be inactive or abandoned.
Token Distribution and Governance
Detailed information about token distribution and vesting schedules is not readily available. The governance functionality appears to be limited.
Key Areas of Concern
The primary concern from a Shariah perspective is that the platform's core functionality appears to be synthetic derivatives trading, which generally constitutes a form of gambling since no real assets are being exchanged. The trading appears to be zero-sum in nature, with gains and losses purely based on price speculation without underlying asset ownership.
Crypto Impact
To assign a comfort level investing in NASDEX 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 NASDEX.
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.