Solar
Crypto Overview
Understanding Solar (SXP)
Solar (SXP), formerly known as Swipe, is a cryptocurrency and blockchain platform that aims to bridge the gap between traditional finance and digital assets. The project was rebranded to Solar in 2022 and operates on the Binance Smart Chain.
Intended Utility
Solar's primary intended utility is to serve as a governance token for the Solar ecosystem and as a means of payment. Token holders can participate in protocol governance decisions and receive various benefits within the ecosystem.
Actual Utility & Adoption
The token is actively used for governance purposes within the Solar ecosystem. It maintains significant trading volume across various cryptocurrency exchanges, particularly on Binance. The project has established partnerships with various payment providers and maintains active development on its core protocol.
Token Distribution & Founder Assessment
The token distribution shows a relatively balanced allocation, with no concerning concentration in founder or team wallets. The project maintains transparent development activities through public GitHub repositories and regular updates to the community.
Technology Assessment
The underlying technology focuses on payment solutions and decentralized finance applications without implementing interest-bearing mechanisms that would conflict with Islamic principles. The protocol's core functions do not involve riba or gambling-like features.
Crypto Impact
To assign a comfort level investing in Solar 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 Solar.
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.