XOXNO
Crypto Overview
Overview
XOXNO is a utility token for the XOXNO NFT marketplace on the MultiversX (formerly Elrond) blockchain. The token is designed to facilitate transactions and provide governance rights within the XOXNO ecosystem.
Purpose and Utility
The primary purpose of XOXNO is to serve as the native token for the XOXNO NFT marketplace, where it is used for marketplace fees, governance, and staking. The token has clear utility within its ecosystem, being actively used for its intended purposes.
Business Model Evaluation
The business model focuses on NFT trading and marketplace operations. The platform enables direct peer-to-peer trading of digital assets, with the XOXNO token serving as a medium for fee payment and governance. The model appears transparent and does not involve inherently prohibited activities like gambling or interest-based lending.
Real-World Adoption
The XOXNO marketplace has shown consistent activity on the MultiversX blockchain, with regular NFT trading volumes and active user participation. The platform has established partnerships within the MultiversX ecosystem and maintains an active development schedule.
Platform Development
The project demonstrates ongoing development activity with regular updates to the marketplace platform. The team maintains active communication channels and provides transparent development updates.
Token Distribution
The token distribution appears relatively balanced, with allocations for community incentives, development, and team members. Vesting schedules are in place for team allocations, indicating a long-term commitment to the project.
Crypto Impact
To assign a comfort level investing in XOXNO 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 XOXNO.
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.