Phantasma
Crypto Overview
Project Overview
Phantasma is a blockchain platform launched in 2018 that aims to provide scalable, decentralized solutions for digital content distribution, gaming, and NFTs. The platform uses a dual-token system with SOUL serving as the governance and staking token, while KCAL is used for transaction fees.
Intended Utility
The SOUL token is designed to serve multiple purposes within the Phantasma ecosystem: governance voting, staking for network security, and enabling smart contract deployment. The platform focuses on gaming, NFT marketplaces, and digital content distribution.
Actual Utility Assessment
The platform shows active development with regular GitHub commits and ecosystem growth. Current usage primarily centers around NFT trading and gaming applications. The platform has partnerships with several gaming studios and NFT projects. Smart contract deployment and governance participation are observable on-chain.
Token Distribution and Governance
Initial token distribution allocated 40% to the founding team and advisors, with vesting periods implemented. The remaining 60% was distributed through public sale and ecosystem development. Current token distribution shows gradual decentralization over time through staking and governance participation.
Technical Implementation
The platform utilizes a Proof of Stake consensus mechanism that complies with Shariah principles as it involves actual asset ownership and value creation. The staking mechanism does not involve interest-bearing components but rather rewards for network security provision.
Revenue Model
Revenue is generated through transaction fees (paid in KCAL) and platform services, primarily from NFT trading and gaming applications. The model does not rely on interest-based mechanisms or gambling activities.
Crypto Impact
To assign a comfort level investing in Phantasma 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 Phantasma.
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.