Yobit Token
Crypto Overview
Overview
Yobit Token (YO) is the native token of the YoBit cryptocurrency exchange platform. YoBit is a cryptocurrency exchange that has been operating since 2015.
Purpose and Utility
The YO token's primary stated purpose is to serve as a utility token within the YoBit exchange ecosystem, offering trading fee discounts and participation in exchange activities. The token was launched in 2020.
Business Model
The token operates within the YoBit exchange ecosystem, primarily used for trading fee discounts. This model is similar to other exchange tokens like Binance's BNB or KuCoin's KCS.
Real-World Adoption
The token's usage is primarily confined to the YoBit exchange platform. Current data shows limited adoption outside the exchange ecosystem.
Development Activity
Development activity appears to be minimal, with most updates relating to exchange operations rather than token development.
Token Distribution
Public information about token distribution and vesting schedules is limited. The token's supply metrics and allocation to founders/team are not clearly documented in public sources.
Crypto Impact
To assign a comfort level investing in Yobit Token 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 Yobit Token.
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.