xRocket
Crypto Overview
Overview
xRocket (XROCK) is a newly launched cryptocurrency on the Binance Smart Chain (BSC) network. The project claims to be focused on creating a decentralized ecosystem for launching new tokens and providing trading tools.
Purpose and Utility
The stated purpose of XROCK is to serve as a utility token within their ecosystem, primarily for accessing their token launch platform and trading tools. The token also includes a reward mechanism where holders receive a portion of transaction fees in BUSD.
Business Model
The project's business model revolves around charging fees for token launches and providing access to trading tools. All identified revenue streams appear to be halal as they involve exchange of actual services and assets.
Development and Adoption
The project is in its early stages with limited adoption. While development activity appears to be ongoing, the primary focus currently seems to be on marketing and community building rather than technical development.
Token Distribution
The token distribution includes: 40% for public sale, 20% for liquidity, 15% for marketing, 15% for development, and 10% for team tokens with a 12-month vesting period. The vesting schedule for team tokens indicates some protection against immediate selling.
Technology Assessment
The project operates on the BSC network and uses standard smart contract technology. The core functionality focuses on token launches and trading tools, which constitute legitimate technological use cases.
Crypto Impact
To assign a comfort level investing in xRocket 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 xRocket.
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.