Sirius Chain
Crypto Overview
Purpose and Utility
Sirius Chain (XPX) is a blockchain platform designed to provide enterprise-grade infrastructure for decentralized applications with a focus on supply chain management, digital asset creation, and smart contracts. The XPX token serves as the native utility token for the network, used for transaction fees and network operations.
Business Model Analysis
The platform's business model appears to focus on legitimate blockchain use cases without involvement in prohibited activities like gambling or interest-based lending. The model is based on providing technological infrastructure and services to businesses.
Adoption and Usage
Current adoption appears limited, with minimal visible partnerships or significant real-world applications. However, this does not affect its Sharia compliance status.
Development Activity
Development activity appears to have significantly decreased in recent periods, with limited updates to the platform's codebase. The last significant updates to their GitHub repository were made several months ago.
Token Distribution
Initial token distribution information is available, though detailed current holdings data is limited. No concerning concentration patterns have been identified that would suggest a scheme to enrich founders.
Technology Review
The underlying technology focuses on providing blockchain infrastructure services, which aligns with permissible activities under Islamic finance principles. The platform does not inherently involve riba or gambling mechanisms.
Crypto Impact
To assign a comfort level investing in Sirius Chain 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 Sirius Chain.
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.