WaykiChain
Crypto Overview
Project Overview
WaykiChain is a blockchain platform launched in 2017 that aims to provide infrastructure for decentralized applications (dApps) with a focus on DeFi and gaming applications. The platform uses a Delegated Proof of Stake (DPoS) consensus mechanism.
Purpose and Utility
The WICC token serves multiple functions within the WaykiChain ecosystem: It is used for transaction fees, staking to secure the network through DPoS, and governance voting rights. The platform supports smart contracts and allows developers to build decentralized applications.
Business Model Analysis
The core technology and intended uses of WaykiChain appear to align with halal principles as they focus on providing technological infrastructure. However, some DApps built on the platform include gambling applications and lending protocols, which raises concerns.
Real-World Adoption
The project shows limited but existing adoption, primarily in Asian markets. Development activity continues, though at a reduced pace compared to earlier years. The platform maintains partnerships with various enterprises and continues to host active DApps.
Token Distribution
Initial token distribution included allocations to the team and early investors, with vesting periods implemented. While detailed recent token distribution data is limited, there is no evidence of concerning concentration of tokens.
Crypto Impact
To assign a comfort level investing in WaykiChain 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 WaykiChain.
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.