SideShift Token
Crypto Overview
Overview
SideShift Token (XAI) is the native token of SideShift.ai, a non-custodial cryptocurrency exchange platform. The token was launched to provide utility within the SideShift ecosystem.
Purpose and Utility
The primary purpose of XAI is to serve as a governance token for the SideShift platform and provide trading fee discounts to holders. Token holders can participate in platform governance decisions and receive reduced trading fees when using the SideShift exchange.
Business Model Analysis
The business model appears straightforward and transparent: SideShift operates as a non-custodial exchange service, and XAI token provides clear utility through governance rights and fee discounts. The platform does not engage in interest-based lending or gambling activities.
Real-World Adoption
While adoption metrics are limited, the token serves its intended purpose within the SideShift ecosystem. The exchange continues to process trades and the token maintains its utility functions.
Token Distribution
XAI tokens were distributed through a fair launch mechanism, with no pre-mine for founders. This approach suggests a lower risk of founder enrichment schemes.
Development Activity
The SideShift platform maintains regular development activity, focusing on exchange functionality and user experience improvements rather than token speculation.
Crypto Impact
To assign a comfort level investing in SideShift 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 SideShift 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.