Shadows
Crypto Overview
Project Overview
Shadows (DOWS) is a decentralized finance (DeFi) protocol built on multiple blockchains that aims to provide synthetic assets trading and derivatives products. The DOWS token serves as the governance and utility token for the Shadows ecosystem.
Intended Purpose and Utility
The primary purposes of DOWS include: Governance rights for protocol decisions, Staking for network security, Fee sharing from protocol revenue, and Access to platform features.
Current Implementation and Usage
The project appears to have limited current adoption and development activity. Most of the token's utility revolves around trading on various exchanges.
Business Model Analysis
The core business model centers around synthetic assets and derivatives trading. This raises significant concerns from an Islamic finance perspective as it involves interest-bearing products and speculative derivatives that don't involve actual asset ownership.
Token Distribution and Governance
The token distribution includes allocations for the team, development fund, and public sale participants. While the exact current distribution is not readily available, the project's focus on synthetic assets and derivatives makes the token distribution less relevant for our halal assessment.
Crypto Impact
To assign a comfort level investing in Shadows 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 Shadows.
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.