CAT COIN
Crypto Overview
Overview
Cat Coin (CAT) is a meme cryptocurrency launched in 2021 on the Binance Smart Chain (BSC). The project presents itself as a community-driven token inspired by cats, similar to other animal-themed meme coins.
Purpose and Utility
The stated purpose of Cat Coin is primarily to serve as a medium of exchange and community token. The project does not claim any complex utility beyond basic token transfers and trading functionality.
Business Model and Activities
Cat Coin operates as a simple BEP-20 token with basic transfer and trading capabilities. The project does not engage in lending, gambling, or other activities that would raise Islamic finance concerns. There is no staking or interest-bearing mechanism built into the protocol.
Development and Adoption
The project shows limited development activity, with most engagement centered around community building and trading. While adoption remains relatively small, this does not impact its Sharia compliance assessment.
Token Distribution
Initial token distribution included a fair launch mechanism where tokens were made available through decentralized exchanges. No concerning concentration of tokens in founder wallets has been identified.
Crypto Impact
To assign a comfort level investing in CAT COIN 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 CAT COIN.
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.