Wateenswap
Crypto Overview
Project Overview
Wateenswap (WTN) is a Binance Smart Chain-based decentralized cryptocurrency that aims to create a Shariah-compliant DeFi ecosystem. The project intends to provide Islamic finance solutions through its platform and claims to be the first fully Shariah-compliant DeFi protocol.
Purpose and Utility
The stated purpose of WTN is to serve as the governance and utility token for the Wateenswap ecosystem. Token holders can participate in governance decisions and access various platform features.
Business Model Analysis
The project's business model centers around providing DeFi services that comply with Islamic principles. This includes facilitation of trades and platform governance. The token appears to avoid interest-based mechanisms and gambling features in its core functionalities.
Real-World Adoption
Current adoption appears to be limited, with relatively low trading volumes and user activity. The project is still in its early stages of development.
Development Activity
Development activity appears minimal based on public repositories and platform updates. The team maintains a basic presence on social media but detailed technical documentation is limited.
Token Distribution
Information about token distribution and vesting schedules is not readily available in public documentation, which raises some transparency concerns. However, this alone does not make the token non-compliant from a Shariah perspective.
Crypto Impact
To assign a comfort level investing in Wateenswap 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 Wateenswap.
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.