SparkPoint
Crypto Overview
Project Overview
SparkPoint (SRK) is a cryptocurrency project that aims to create an ecosystem of financial technology services including a payment gateway, e-learning platform, e-commerce solutions, and DeFi services. The project was launched in 2019.
Purpose and Utility
The stated purpose of SRK is to serve as the native token within the SparkPoint ecosystem, facilitating payments and transactions across their various platforms. The token is used for paying for services, rewards distribution, and governance within their ecosystem.
Business Model Analysis
The project's core services appear to focus on legitimate business activities like e-learning and e-commerce. However, their DeFi services include lending and yield farming components which raise some concerns from an Islamic finance perspective.
Real-World Adoption
The project shows limited real-world adoption of its intended use cases. While the token exists on multiple blockchains including Ethereum and Binance Smart Chain, current usage appears to be primarily centered around trading rather than utility within their ecosystem.
Platform Development
Development activity appears to be ongoing, though at a moderate pace. The team maintains regular updates to their platforms and services.
Token Distribution
Information about detailed token distribution and vesting schedules is not readily available in recent documentation, which raises transparency concerns.
Crypto Impact
To assign a comfort level investing in SparkPoint 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 SparkPoint.
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.