SKALE
Crypto Overview
Project Overview
SKALE Network is a multichain network designed to scale Ethereum through elastic sidechains. The SKL token is used for securing the network through staking, paying for network resources, and participating in governance.
Intended Utility
The primary purpose of SKL is to serve as the native token for the SKALE Network ecosystem. Token holders can stake SKL to become validators, delegate tokens to validators, and participate in network governance. The token is essential for the network's proof-of-stake security model and resource allocation.
Actual Utility & Adoption
The network has demonstrated real utility with over 50 dApps deployed across various SKALE chains. Notable partnerships include Crypto Blades, Ruby.Exchange, and NFTrade. The network processes millions of transactions monthly with zero gas fees for end users.
Token Distribution & Governance
Initial token distribution allocated 28% to the founding team and advisors with 4-year vesting, 15% to early supporters, and 57% for network incentives and ecosystem growth. The vesting schedule appears reasonable and designed to align long-term interests.
Development Activity
The project maintains active development with regular GitHub commits and protocol upgrades. The team has consistently delivered on their technical roadmap, with significant improvements to network performance and security.
Revenue Model
The network's revenue model is based on fees paid in SKL tokens for computational resources, which are distributed to validators. This model avoids interest-based mechanisms and aligns with Islamic finance principles.
Crypto Impact
To assign a comfort level investing in SKALE 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 SKALE.
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.