WaultSwap
Crypto Overview
Overview
WaultSwap was launched as a decentralized exchange (DEX) platform on the Binance Smart Chain (BSC) in 2021. The WEX token was designed to serve as the platform's governance and utility token.
Purpose and Utility
The intended purpose of WEX was to provide utility within the WaultSwap ecosystem, including: governance rights, trading fee discounts, and participation in platform development decisions.
Current Status
As of 2024, WaultSwap appears to be defunct. The project's website is no longer accessible, social media channels are inactive, and development activity has ceased. Trading volume for WEX has dropped to negligible levels.
Platform Analysis
The platform initially operated as a decentralized exchange, allowing users to trade cryptocurrencies. However, the project suffered from several significant issues including smart contract vulnerabilities and eventual abandonment by the development team.
Token Distribution and Governance
Historical data shows that a significant portion of tokens were held by the founding team, with no clear vesting schedule or lock-up periods. The project's governance mechanisms were never fully implemented before its decline.
Crypto Impact
To assign a comfort level investing in WaultSwap 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 WaultSwap.
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.