TheStandard USD
Crypto Overview
Project Overview
TheStandard USD (USDS) is an asset-backed stablecoin operating on the BNB Chain, designed to maintain a 1:1 peg with the US Dollar. The token is part of TheStandard ecosystem, which aims to provide decentralized financial services while maintaining compliance with Islamic finance principles.
Purpose and Utility
The primary stated purpose of USDS is to serve as a stable medium of exchange and store of value in the cryptocurrency ecosystem. It is designed to be backed by a basket of cryptocurrencies maintained in a protocol-controlled reserve.
Business Model and Operations
The protocol maintains stability through an algorithmic mechanism that manages the supply of USDS based on market demand. The system uses TST (TheStandard Token) as the protocol token for governance and stability operations.
Real-World Adoption
USDS has achieved integration with several decentralized exchanges on the BNB Chain and has established partnerships with various DeFi protocols. The token has demonstrated consistent trading volume and liquidity across multiple platforms.
Development Activity
The project maintains active development with regular updates to its smart contracts and protocol mechanisms. The team has been transparent about their development roadmap and consistently delivers updates to the community.
Token Distribution
The token distribution appears reasonable with no concerning concentration of tokens among founders or early investors. The project implements transparent treasury management practices.
Crypto Impact
To assign a comfort level investing in TheStandard USD 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 TheStandard USD.
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.