Quidax Token
Crypto Overview
Purpose and Utility
Quidax Token (QDX) is the native token of the Quidax cryptocurrency exchange, launched in 2021. The token is designed to provide utility within the Quidax ecosystem, including trading fee discounts, governance participation, and rewards for platform activities.
Business Model
The token operates primarily as a utility token within the Quidax exchange ecosystem. Users can receive trading fee discounts when holding QDX tokens, similar to other exchange tokens like BNB or FTT. The business model appears transparent and straightforward, focused on incentivizing platform usage and providing governance rights.
Real-World Adoption
The adoption of QDX is primarily limited to users of the Quidax exchange. While the exchange operates in several African countries, with a focus on Nigeria, the token's utility is confined to the exchange ecosystem.
Platform Development
The Quidax platform continues to operate and maintain its exchange services, though public information about specific development activities related to the QDX token is limited.
Token Distribution and Vesting
Information about token distribution and vesting schedules is not readily available in public documentation. This lack of transparency is a limitation in our analysis but does not automatically indicate non-compliance with Shariah principles.
Crypto Impact
To assign a comfort level investing in Quidax Token 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 Quidax Token.
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.