Source
Crypto Overview
Overview
Source Protocol is a blockchain-based platform that aims to facilitate decentralized development of applications and smart contracts. The SOURCE token serves as the native utility token of the ecosystem.
Purpose and Utility
The stated purpose of SOURCE is to serve as a governance token for the Source Protocol ecosystem and as a means of payment for network fees. Token holders can participate in protocol governance decisions and pay for transaction fees on the network.
Business Model Analysis
The business model appears to focus on providing blockchain infrastructure services, which is inherently halal as it involves the exchange of real value and utility. The platform does not directly facilitate any prohibited activities like gambling or interest-based lending.
Adoption and Usage
The project shows limited adoption at present, with most activity centered around trading on decentralized exchanges. While current usage is primarily speculative, this does not impact its halal status as real asset ownership is involved in these transactions.
Development Activity
Development activity appears to be ongoing, though at a moderate pace. The team maintains regular updates to the protocol's infrastructure.
Token Distribution
Based on available data, the token distribution includes allocations for the team, development fund, and public sale participants. While specific vesting details are not publicly available, this standard distribution model does not raise immediate concerns from a Shariah perspective.
Crypto Impact
To assign a comfort level investing in Source 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 Source.
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.