Onix
Crypto Overview
Project Overview
Onix (ONX) is a cryptocurrency project that aims to provide a decentralized platform for digital payments and transactions. The project was launched in 2021 and operates on its own blockchain network.
Purpose and Utility
The intended purpose of ONX is to serve as a medium of exchange and store of value within its ecosystem. The project claims to offer fast and low-cost transactions.
Business Model Evaluation
The project's business model appears straightforward - facilitating peer-to-peer transactions without intermediaries. There are no apparent mechanisms involving riba (interest) or gambling in the core protocol.
Development and Adoption
The project shows limited development activity on its GitHub repositories. While the network is operational, current adoption and usage metrics are relatively modest.
Token Distribution
Initial token distribution information is publicly available, with founders and team members holding approximately 20% of the total supply. There are vesting periods in place for team allocations.
Technology Assessment
The underlying technology focuses on basic transfer and storage of value, without any mechanisms that would raise Islamic finance concerns. The project does not facilitate or promote any haram activities.
Crypto Impact
To assign a comfort level investing in Onix 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 Onix.
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.