Venom
Crypto Overview
Project Overview
Venom is a Layer-1 blockchain protocol designed to provide a scalable, secure, and efficient platform for decentralized applications and digital asset transactions. The project aims to solve scalability issues through its novel Asynchronous Dynamic Sharding technology.
Purpose and Utility
The VNM token serves multiple functions within the Venom ecosystem: It acts as the native currency for transaction fees, provides governance rights to token holders, and is used for staking to secure the network through the Proof of Stake consensus mechanism.
Business Model Analysis
The core business model revolves around providing blockchain infrastructure services, which aligns with Islamic principles as it involves the exchange of real utility and value. The platform facilitates legitimate technological services without involvement in prohibited activities.
Development and Adoption
The project maintains active development with regular GitHub commits and protocol updates. The ecosystem has seen growing adoption with multiple projects building on the platform, including DeFi protocols and Web3 applications. The Venom Foundation has established partnerships with various technology companies and academic institutions.
Token Distribution
The token distribution includes allocations for ecosystem development, team members, and public sale participants. Team tokens are subject to a vesting schedule, indicating measures to prevent immediate liquidation by insiders.
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.