Scaleswap
Crypto Overview
Purpose and Utility
Scaleswap is a decentralized token launch platform built on Layer 2 solutions. The SCA token serves as a governance and utility token within the Scaleswap ecosystem, allowing holders to participate in IDO (Initial DEX Offering) launches and platform governance decisions.
Business Model Analysis
The platform focuses on facilitating token launches and trading, which involves legitimate exchange of digital assets. The core business model appears to be transparent and does not inherently involve prohibited activities like interest-based lending or gambling.
Platform Development and Adoption
The project was launched in 2021, initially on Polygon network. However, recent analysis shows minimal development activity and limited platform usage. While this affects the project's viability, it does not impact its halal status.
Token Distribution
According to available data, the token distribution includes allocations for the team, advisors, and community. There are vesting schedules in place for team tokens, which demonstrates some level of commitment to long-term development.
Technology Assessment
The platform's technology is focused on facilitating token launches and trading, which represents a legitimate exchange of digital assets. The core functionality does not involve interest-bearing mechanisms or gambling elements.
Crypto Impact
To assign a comfort level investing in Scaleswap 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 Scaleswap.
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.