Phenx
Crypto Overview
Overview
Phenx (PNX) is a cryptocurrency that aims to create a decentralized ecosystem for NFT gaming and metaverse applications. The project is built on the BNB Chain (formerly BSC).
Purpose and Utility
The primary intended utility of PNX includes: governance rights over the Phenx ecosystem, access to NFT minting and trading features, and participation in their planned gaming platform.
Real-World Adoption
Current adoption appears to be limited, with most activity centered around token trading on decentralized exchanges. The project is in early stages of development.
Platform Development
Development activity can be observed through their Github repository, though updates have been sporadic. The team has outlined plans for NFT marketplace integration and gaming features in their roadmap.
Token Distribution
Token distribution information shows: 30% allocated to presale, 25% to liquidity pool, 20% to development, 15% to marketing, and 10% to team. Team tokens are reportedly subject to a 12-month vesting period.
Business Model Analysis
The core business model revolves around creating a gaming and NFT ecosystem, which aligns with halal principles as it involves actual asset ownership and value exchange. No lending or interest-bearing components have been identified in the protocol.
Crypto Impact
To assign a comfort level investing in Phenx 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 Phenx.
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.