OST
Crypto Overview
Overview
OST (Simple Token) was a cryptocurrency project launched in 2017 that aimed to help businesses create and manage their own branded tokens on the OpenST protocol. The project intended to provide tools for companies to tokenize their businesses without extensive blockchain knowledge.
Current Status
As of 2024, the OST project appears to be defunct. The official website is no longer operational, development activity has ceased, and the token has been delisted from major exchanges. The last significant activity on the project's social media and GitHub repositories was several years ago.
Intended Utility
The original purpose of OST was to serve as the native utility token for the OpenST protocol, enabling businesses to create and manage their own branded tokens. Companies would stake OST to mint their branded tokens, and the protocol would handle the technical complexities of blockchain integration.
Business Model Analysis
The intended business model was halal-compliant, as it focused on providing legitimate blockchain infrastructure services without involving interest-based mechanisms or prohibited activities. The project aimed to facilitate real asset exchange and value creation through blockchain technology.
Development and Adoption
The project showed initial promise with some business partnerships and development activity. However, development appears to have completely ceased, and there is no evidence of current adoption or usage of the platform.
Crypto Impact
To assign a comfort level investing in OST 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 OST.
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.