UXD Protocol
Crypto Overview
Overview
UXD Protocol is a decentralized protocol designed to create a stable cryptocurrency (UXD) that maintains a soft peg to the US Dollar through delta-neutral positions. The protocol's governance token, UXP, provides holders with voting rights over protocol parameters and treasury management.
Purpose and Utility
The primary utility of UXP tokens is governance over the UXD Protocol. Token holders can participate in protocol decision-making, including parameter adjustments, treasury management, and protocol upgrades. The token also captures a portion of the protocol's revenue through a buy-and-burn mechanism.
Business Model
The protocol generates revenue through trading fees and liquidations in its delta-neutral mechanism. This revenue is partially used to buy back and burn UXP tokens, potentially benefiting token holders. The core business model focuses on providing decentralized financial infrastructure rather than lending or interest-bearing products.
Development and Adoption
The protocol maintains active development on the Solana blockchain. The team regularly pushes updates and improvements to the protocol's smart contracts and infrastructure. While adoption metrics are modest, the protocol has demonstrated consistent usage for its stated purpose.
Token Distribution
The token distribution includes allocations for team members and early investors with standard vesting schedules to align long-term incentives. The protocol maintains transparency regarding token allocations and vesting schedules through public documentation.
Crypto Impact
To assign a comfort level investing in UXD 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 UXD 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.