QuickSwap [Old]
Crypto Overview
Purpose and Utility
QuickSwap [Old] (QUICK) was the governance token for QuickSwap, a decentralized exchange (DEX) built on Polygon Network. The token allowed holders to participate in governance decisions and earn a share of trading fees generated on the platform.
Business Model Analysis
The business model was based on facilitating decentralized trading of digital assets, with token holders receiving rewards from trading fees. This model aligns with Islamic principles as it involves actual asset exchange and value creation through providing a trading service.
Real-World Adoption
It's important to note that this is the old version of the QuickSwap token, which has been replaced by a new version. The old token is no longer actively used for its original purpose, as the platform has migrated to a new token contract.
Platform Development
While the QuickSwap platform continues to operate, this particular token version is deprecated. Development and updates are now focused on the new token version.
Token Distribution and Founder Analysis
While historical token distribution included allocations to team members and early investors, this aspect is now less relevant as the token has been replaced by a new version. The transition to a new token was conducted transparently with clear communication to token holders.
Crypto Impact
To assign a comfort level investing in QuickSwap [Old] 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 QuickSwap [Old].
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.