Based Shiba Inu
Crypto Overview
Purpose and Utility Assessment
Based Shiba Inu (BSHIB) is a meme cryptocurrency launched in 2023 on the Ethereum blockchain, created as a community-driven token that draws inspiration from both the Shiba Inu dog breed and internet meme culture. The project positions itself as a community token with basic utility in the form of token ownership and trading.
Business Model Analysis
The token operates as a standard ERC-20 token with simple transfer and ownership functionalities. The primary activity involves trading on decentralized exchanges. There is no evidence of involvement in prohibited activities such as gambling, interest-bearing products, or adult content.
Adoption and Usage
The token has achieved listing on several decentralized exchanges (DEXs) and maintains active trading volumes. The primary use case remains trading and holding, which aligns with its stated purpose as a community-driven meme token.
Platform Development
As a basic ERC-20 token, the technical development requirements are minimal. The project maintains a simple smart contract without complex functionalities that could introduce questionable elements from a Shariah perspective.
Token Distribution
Information about token distribution indicates it follows a fair launch model, with tokens available through decentralized exchanges. There is no evidence of excessive token concentration among founders or early investors that would suggest a scheme to enrich founders.
Crypto Impact
To assign a comfort level investing in Based Shiba 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 Based Shiba 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”.
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