Viper Protocol
Crypto Overview
Project Overview
Viper Protocol is a decentralized exchange (DEX) and automated market maker (AMM) built on the Harmony ONE blockchain. It allows users to trade cryptocurrencies, provide liquidity to trading pairs, and earn rewards through staking.
Utility Analysis
Primary utilities include: facilitating token swaps on Harmony network, providing liquidity mining opportunities, and governance rights through the VIPER token. Token holders can stake VIPER to earn a share of protocol fees.
Business Model Evaluation
The protocol generates revenue through trading fees (0.3% per swap), with fees distributed between liquidity providers and token stakers. The core exchange functionality aligns with halal principles as it facilitates actual asset exchange.
Development & Adoption
The protocol remains active on Harmony ONE blockchain, though development activity has slowed since 2022. The platform continues to process trades and maintain liquidity pools, albeit at reduced volumes compared to its peak.
Token Distribution
Initial token distribution included allocations for team, development, and community incentives. While exact current holdings are not publicly available, the project implemented vesting schedules for team tokens.
Crypto Impact
To assign a comfort level investing in Viper 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 Viper 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.