Staked ICX
Crypto Overview
Overview
Staked ICX (sICX) is a derivative token representing staked ICON (ICX) tokens in the ICON blockchain ecosystem. When users stake their ICX tokens through supported platforms, they receive sICX as a representation of their staked position.
Purpose and Utility
The primary purpose of sICX is to represent staked ICX tokens while allowing users to maintain liquidity of their staked assets. Users can trade sICX while their original ICX remains staked and earning staking rewards. This creates a more efficient staking ecosystem where users don't have to choose between earning staking rewards and maintaining liquidity.
Business Model
The business model revolves around network security and validation through staking. Users stake ICX to help secure the ICON network and receive rewards for their contribution. The sICX token serves as a liquid representation of these staked positions.
Platform Development and Adoption
sICX is integrated into the ICON ecosystem and is primarily used on platforms like Balanced Network. The development activity follows the main ICON blockchain development, as sICX is a core component of the ICON staking infrastructure.
Token Distribution and Governance
sICX tokens are created only when ICX is staked through proper channels. There is no pre-mine or initial distribution to founders, as sICX is minted based on actual staking activity. The ratio between sICX and ICX is maintained by the protocol.
Crypto Impact
To assign a comfort level investing in Staked ICX 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 Staked ICX.
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.