WaykiChain

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.