Bone ShibaSwap
Crypto Overview
Understanding Intended Utility
BONE is the governance token of the ShibaSwap decentralized exchange (DEX). Its primary intended purpose is to allow holders to vote on proposals affecting the Shiba Inu ecosystem, including ShibaSwap's development and strategic decisions. The token also serves as the gas token for Shibarium, a Layer-2 blockchain solution built on top of Ethereum.
Business Model Analysis
The token's utility is centered around legitimate blockchain operations: governance rights and transaction fee payments. These functions align with halal principles as they involve real utility transfer and don't inherently involve prohibited activities.
Actual Utility Assessment
BONE is actively used for its intended purposes. It functions as the governance token for ShibaSwap and is being utilized as the gas token for Shibarium network transactions. The development team maintains regular updates and improvements to the ecosystem.
Token Distribution and Founder Analysis
Total supply is capped at 250 million tokens. The distribution includes allocations for development, ecosystem growth, and community rewards. The development team has demonstrated consistent commitment to the project's growth and infrastructure development.
Technology and Revenue Model
The primary mechanisms of BONE (governance and gas fees) do not involve interest-bearing instruments or prohibited activities. The token derives its value from actual utility within the ecosystem rather than speculative instruments.
Crypto Impact
To assign a comfort level investing in Bone ShibaSwap 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 Bone ShibaSwap.
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.