WazirX
Crypto Overview
Project Overview
WazirX (WRX) is the native utility token of WazirX, which was India's largest cryptocurrency exchange before being acquired by Binance in 2019. The WRX token was launched to provide trading fee discounts and other benefits to users of the WazirX platform.
Intended Utility
The primary intended utilities of WRX tokens include: Trading fee discounts on the WazirX exchange, participation in token sales on the WazirX Launchpad, and rewards for referring new users to the platform.
Actual Utility & Adoption
The token maintains its core utility functions within the WazirX ecosystem, particularly for trading fee discounts. However, usage has declined significantly since 2022 after regulatory challenges in India and Binance's public dissociation from WazirX. The exchange continues to operate but with reduced volume.
Token Distribution & Governance
The total supply of WRX is capped at 1 billion tokens. Initial distribution included allocations to team members and advisors with vesting periods, trading rewards, and ecosystem development. The project maintains transparency regarding token allocations and vesting schedules.
Technology & Operations
WRX operates as a BEP-20 token on the Binance Smart Chain. The underlying exchange technology includes standard trading features, an automated matching engine, and basic wallet services. No interest-bearing products or gambling features are directly integrated into the core token utility.
Crypto Impact
To assign a comfort level investing in WazirX 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 WazirX.
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.