Carbon Protocol
Crypto Overview
Overview
Carbon Protocol, formerly known as Switcheo, is a decentralized finance (DeFi) protocol that aims to provide cross-chain trading infrastructure. The SWTH token serves as the native utility token of the Carbon ecosystem, used for governance, staking, and fee payments.
Intended Utility
The primary intended utilities of SWTH include: governance rights for protocol decisions, staking to secure the network, fee payments for trading and other protocol services, and incentivizing liquidity provision in the Carbon ecosystem.
Actual Utility
The token is actively used within the Carbon ecosystem for its intended purposes. Users stake SWTH tokens to participate in network security and earn rewards. The token is used for governance voting on protocol upgrades and changes. Trading fees on the Carbon DEX can be paid using SWTH tokens.
Token Distribution and Founder Assessment
The token distribution includes allocations for team members and early investors with standard vesting schedules to prevent immediate selling. The founding team has maintained consistent development activity since the project's inception, with regular updates and improvements to the protocol.
Technology and Revenue Model
The protocol generates revenue through trading fees and other service charges, which are distributed to stakers and ecosystem development. The staking mechanism is based on Proof of Stake principles and does not involve interest-bearing mechanisms that would conflict with Islamic principles.
Crypto Impact
To assign a comfort level investing in Carbon Protocol 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 Carbon Protocol.
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.