Residual Token
Crypto Overview
Overview
Residual Token (eRSDL) is a cryptocurrency that powers the UniFarm platform, a DeFi farming protocol that allows users to stake tokens and earn multiple tokens as rewards. The token serves as both a governance token and utility token within the UniFarm ecosystem.
Purpose and Utility
The primary stated purposes of eRSDL are: 1) Governance rights for the UniFarm protocol, 2) Access to premium features and farming pools, 3) Revenue sharing from protocol fees.
Business Model Assessment
The core business model revolves around providing a staking and farming platform where users can earn rewards in multiple tokens simultaneously. While staking and farming mechanisms themselves can be compliant when properly structured, the current implementation involves lending and interest-bearing mechanisms that raise concerns from a Shariah perspective.
Platform Development and Adoption
The project maintains active development with regular updates to the UniFarm platform. The team has established partnerships with several other DeFi protocols and continues to expand the ecosystem. However, the primary use case remains centered around lending and interest-based farming.
Token Distribution
The token distribution shows a significant portion allocated to the team and advisors, with vesting periods in place. While the vesting schedule provides some protection against immediate dumps, the concentration of tokens in team hands is notable.
Crypto Impact
To assign a comfort level investing in Residual Token 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 Residual Token.
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.