Squad3
Crypto Overview
Overview
Squad3 (SQ3) is a platform cryptocurrency that aims to bridge Web2 gaming communities with Web3 technology. The project focuses on providing tools and infrastructure for gaming communities to create and manage their own tokens and NFTs.
Purpose and Utility
The primary stated purpose of SQ3 is to serve as a governance and utility token within the Squad3 ecosystem. Token holders can participate in platform governance decisions and access various features of the platform.
Business Model Analysis
The business model appears to be focused on legitimate technological development and community building in the gaming sector. The project does not involve inherently prohibited activities like interest-based lending or gambling.
Development and Adoption
The project shows active development with regular updates to their platform and community engagement. While still in early stages, the development team has maintained consistent progress on their roadmap.
Token Distribution
Initial token distribution includes allocations for development (30%), community rewards (25%), ecosystem growth (20%), and team/advisors (25%). Team tokens are subject to a vesting period of 24 months with a 6-month cliff.
Technology Assessment
The platform's primary features focus on community token creation and management tools, which do not involve any inherently prohibited mechanisms under Islamic finance principles.
Crypto Impact
To assign a comfort level investing in Squad3 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 Squad3.
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.