OX Coin
Crypto Overview
Project Overview and Purpose
OX Coin is an ERC-20 token launched in early 2024. The project claims to be focused on decentralized exchange (DEX) aggregation and cross-chain bridging solutions.
Utility Assessment
The primary stated utility of OX is to serve as a governance token for the protocol's DEX aggregation platform. Token holders can participate in protocol decisions and receive trading fee discounts. The token also acts as a medium of exchange within the ecosystem.
Current Usage and Development
As a newly launched project, OX is primarily used for trading on decentralized exchanges. While the development team has published a roadmap for implementing DEX aggregation features, these functionalities are still in development.
Token Distribution
The token distribution includes allocations for the team (20%), development fund (15%), community rewards (25%), and public sale (40%). Team tokens are subject to a 2-year vesting period with a 6-month cliff.
Revenue Model
The project's revenue model is based on collecting trading fees from DEX aggregation services, with no interest-bearing mechanisms or lending protocols involved.
Crypto Impact
To assign a comfort level investing in OX Coin 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 OX Coin.
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.