BABY DOGE INU
Crypto Overview
Purpose and Utility
Baby Doge Inu is a meme cryptocurrency launched in 2022 on the Ethereum blockchain, combining elements from popular meme coins Dogecoin and Shiba Inu. The project claims to be a community-driven token focusing on decentralization and meme culture.
Business Model and Tokenomics
The token operates on a simple transfer mechanism with a 4% tax on transactions - 2% distributed to holders and 2% added to the liquidity pool. There is no lending, staking, or interest-bearing mechanisms involved.
Real-World Adoption
The token primarily functions as a tradeable digital asset on decentralized exchanges. While adoption is limited, this doesn't affect its Sharia compliance as actual asset ownership and transfer occurs with each trade.
Development Activity
The project shows minimal development activity beyond its initial smart contract deployment. However, limited development doesn't impact Sharia compliance as the basic token transfer functionality remains operational.
Token Distribution
According to on-chain data, no single wallet holds a concerning concentration of tokens, suggesting reasonable distribution. The token launch did not include pre-sales or private allocations to founders.
Crypto Impact
To assign a comfort level investing in BABY DOGE INU 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 BABY DOGE INU.
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.
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