Solarbeam
Crypto Overview
Overview
Solarbeam is a decentralized exchange (DEX) built on the Moonriver network, which is a Kusama-based smart contract platform. The SOLAR token serves as the native token of the Solarbeam DEX.
Purpose and Utility
The SOLAR token is primarily used for governance and staking within the Solarbeam ecosystem. Token holders can participate in protocol governance decisions and earn rewards by providing liquidity to the DEX. The token also offers various farming opportunities within the platform.
Business Model Analysis
The platform operates as a decentralized exchange, facilitating peer-to-peer trading of cryptocurrencies. Revenue is generated through trading fees, which are distributed to liquidity providers and token stakers. The core business model appears to align with Islamic principles as it facilitates direct asset exchange without interest-based mechanisms.
Real-World Adoption
Solarbeam has established itself as one of the primary DEXs on the Moonriver network, though its usage metrics are relatively modest compared to larger DEXs on other chains. The platform maintains active development and regular updates to its protocol.
Token Distribution and Founder Alignment
The token distribution includes allocations for liquidity mining, team tokens, and community incentives. Team tokens have vesting periods implemented to align long-term interests.
Technology and Development
The platform utilizes automated market maker (AMM) technology, similar to other popular DEXs. The development team maintains regular updates and improvements to the protocol.
Crypto Impact
To assign a comfort level investing in Solarbeam 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 Solarbeam.
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.