VOLT is a DeFi ecosystem that offers various DeFi products, including a decentralized exchange, a launchpad, staking platform, cross-chain bridges, and VoltiChange, a deflationary DEX that lists Uniswap or Pancakeswap projects for free. It also offers an NFT collection called VDSC, a P2E racing game, and social activities that offer rewards and buy-back & burn features. However, Volted Racer, the P2E game, involves elements of gambling that make VOLT Shariah Non-Compliant. Users are responsible for tax liability arising from playing the game, and 20% of the amount paid goes towards development, maintenance, and promotion, while 80% is distributed as prizes to winners, including individuals and projects.
| Category | Details | Status |
|---|---|---|
| Legitimacy | Not regulated by any countries or regulatory bodies. The project has a clear roadmap and genuine product on blockchain, while the token/coin has a fundamental underlying value that allows it to be categorized as "Mal". | Passed |
| Project | VOLT is a DeFi ecosystem that aims to offer various DeFi products while generating profits for its native token. It has a decentralized exchange, a launchpad, a staking platform, and cross-chain bridges. It also offers an NFT collection called VDSC that gives exclusive access to future collections, real-world events, and exclusive rights and revenues within the ecosystem. VOLT also has a P2E racing game and social activities that offer rewards and buy-back & burn features. The ecosystem also includes VoltiChange, a deflationary DEX that lists Uniswap or Pancakeswap projects for free. However, Volted Racer, a P2E game, involves elements of gharar and gambling. Regarding taxes, users are solely responsible for any tax liability arising from playing for the projects. The amount paid includes 20% for development, maintenance, and promotion, while 80% is redistributed as prizes to the winners, including individuals and projects. The concept illustrates the involvement of gambling, which is prohibited in Islam. Therefore, Volt is considered Shariah Non-Compliant. | Failed |
| Financials | The tokens are not backed by any equity, thus there is no financial screening on this token. | Passed |
| Token | Volt Inu ($VOLT) is a deflationary token that aims to generate passive income for its holders through NFT fractionalization and the acquisition of nodes, which will allow for continuous revenue generation. The revenue generated will be funneled back into $VOLT, benefiting all hodlers. | Passed |
| Staking Method | The Voltage Finance platform offers a Stake facility where VOLT users can stake their tokens. As a result of staking, they will receive an xVOLT token and earn attractive rewards. | Passed |
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