USDH
Crypto Overview
Purpose and Utility
USDH is a decentralized stablecoin project developed by The Open Network (TON) Foundation and Holepunch, designed to maintain a stable value of 1 USD. It functions as a collateral-backed stablecoin within the TON ecosystem.
Business Model and Implementation
USDH operates through a collateralization mechanism where users can mint USDH by depositing approved collateral assets. The system employs smart contracts to maintain the peg and manage collateral ratios.
Real-World Adoption
The project is relatively new and still in early stages of adoption. It is primarily used within the TON ecosystem for trading and as a stable medium of exchange.
Development Activity
The project shows active development with regular updates to its protocol and infrastructure. The TON Foundation maintains transparency in their development process through public repositories and documentation.
Token Distribution and Governance
USDH employs a transparent token distribution model with clear allocation mechanisms. The minting and burning processes are controlled by smart contracts rather than centralized entities.
Crypto Impact
To assign a comfort level investing in USDH 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 USDH.
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.