300FIT NETWORK
Crypto Overview
Overview
300FIT Network is a blockchain-based fitness and wellness platform that aims to incentivize physical activity through their move-to-earn model. The FIT token serves as the native currency within their ecosystem.
Purpose and Utility
The primary purpose of the FIT token is to reward users for completing physical activities and wellness goals. Users can earn tokens by participating in fitness activities tracked through the platform's mobile application. These tokens can be used to purchase fitness-related products and services within the ecosystem.
Business Model Evaluation
The core business model revolves around promoting physical health and wellness, which aligns with Islamic principles of maintaining good health. The platform does not involve any inherently prohibited activities like gambling, interest-based lending, or adult content.
Adoption and Usage
The platform shows moderate adoption with an active user base primarily in Southeast Asian markets. The token is actively traded on several decentralized exchanges, and the platform maintains partnerships with various fitness centers and wellness providers.
Development Activity
The development team maintains regular updates to their platform and mobile application. Their GitHub repository shows consistent activity, indicating ongoing technical development.
Token Distribution and Governance
The token distribution appears reasonable with founders holding approximately 15% of the total supply, subject to a vesting schedule over 24 months. The remaining tokens are distributed among the community, development fund, and ecosystem growth initiatives.
Crypto Impact
To assign a comfort level investing in 300FIT NETWORK 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 300FIT NETWORK.
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.