Side.xyz
Crypto Overview
Overview
Side Protocol (SIDE) is a blockchain infrastructure project aiming to provide a side chain solution for Cosmos-based blockchains. The protocol's main utility is to enable developers to create application-specific blockchains with customizable parameters while maintaining security through the Cosmos ecosystem.
Purpose and Utility
The SIDE token serves multiple functions within the ecosystem: governance rights for protocol decisions, staking to secure the network, and payment for transaction fees. The protocol is actively being developed with a focus on providing infrastructure for blockchain scalability.
Business Model Analysis
Side Protocol's business model centers around providing blockchain infrastructure services, which is inherently halal as it involves the creation and exchange of real technological value. The project does not involve any interest-bearing mechanisms, gambling features, or prohibited activities.
Development and Adoption
The project is in its early stages but shows active development on GitHub. The team has been transparent about their development roadmap and technical progress. While adoption is currently limited, this is not unusual for early-stage infrastructure projects.
Token Distribution
The token distribution includes allocations for development, ecosystem growth, and community initiatives. There are vesting schedules in place for team tokens, indicating a long-term commitment to the project.
Crypto Impact
To assign a comfort level investing in Side.xyz 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 Side.xyz.
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.