Venom
Crypto Overview
Project Overview
Venom is a Layer-1 blockchain platform launched in 2023, built on an asynchronous Dynamic Sharding technology. The project aims to provide a scalable infrastructure for Web3 applications, focusing on enterprise solutions and government implementations.
Purpose and Utility
The primary stated purpose of Venom is to serve as a high-performance blockchain platform with the following key utilities: enabling enterprise-grade decentralized applications, facilitating government digital initiatives, and powering Web3 solutions. The VENOM token is used for network governance, transaction fees, and staking.
Business Model Analysis
The platform's business model centers around providing blockchain infrastructure services, with no inherent elements that would conflict with Islamic principles. The revenue model is based on network usage fees and does not involve interest-based mechanisms or prohibited activities.
Development and Adoption
The project shows active development with regular GitHub commits and technical updates. Notable partnerships include collaborations with the UAE government for digital initiatives. The platform has launched its mainnet and continues to expand its ecosystem.
Token Distribution
The token distribution includes allocations for ecosystem development, team members, and public sale participants. There are vesting schedules in place for team tokens, showing consideration for long-term project sustainability.
Crypto Impact
To assign a comfort level investing in Venom 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 Venom.
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.