WJEWEL
Crypto Overview
Purpose and Utility
WJEWEL is the wrapped version of JEWEL, the primary token of DeFiKingdoms, a blockchain-based game. It represents a 1:1 wrapped version of JEWEL tokens on alternate networks, primarily used to enable cross-chain functionality and expand the DeFiKingdoms ecosystem.
Business Model
The token serves as a bridge mechanism allowing JEWEL holders to utilize their tokens across different blockchain networks. Users can wrap their JEWEL tokens to obtain WJEWEL, which maintains the same value and utility as JEWEL but with cross-chain capabilities.
Real-World Adoption
WJEWEL is actively used within the DeFiKingdoms ecosystem for cross-chain transactions, particularly between the Harmony and DFK Chain networks. The token maintains genuine utility through its bridge functionality and integration with the broader DeFiKingdoms gaming platform.
Development Activity
The token is part of the larger DeFiKingdoms ecosystem, which shows consistent development activity and regular updates. The wrapping mechanism is maintained and secured through smart contracts.
Token Distribution and Vesting
WJEWEL follows a 1:1 minting ratio with JEWEL, meaning new tokens are only created when JEWEL tokens are locked in the bridge contract. This mechanism ensures transparent and fair token distribution.
Crypto Impact
To assign a comfort level investing in WJEWEL 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 WJEWEL.
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.