Onyxcoin
Crypto Overview
Project Overview
Onyxcoin (XCN) is the native token of the Onyx Protocol, formerly known as Chain Protocol. The project aims to provide blockchain infrastructure services and tools for enterprises to build and deploy blockchain applications.
Purpose and Utility
The primary stated purpose of XCN is to serve as a governance and utility token within the Onyx ecosystem. Token holders can participate in protocol governance decisions and access various platform services.
Business Model & Operations
The project focuses on providing blockchain infrastructure solutions, including cloud services and development tools. Their business model appears to be based on legitimate technological services without any apparent involvement in prohibited activities.
Development Activity
While the project maintains active development, recent activity has been relatively limited. The team continues to work on infrastructure improvements and enterprise solutions.
Token Distribution
Token distribution includes allocations for team members, development, and community initiatives. Specific details about vesting schedules and lock-up periods are publicly available through their documentation.
Crypto Impact
To assign a comfort level investing in Onyxcoin 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 Onyxcoin.
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.