CAT DOGE
Crypto Overview
Purpose and Utility
Cat Doge (CATDOGE) is a meme cryptocurrency that launched on the BNB Chain (formerly BSC). The project appears to be primarily focused on community engagement and meme culture, combining elements of both cat and dog themed cryptocurrencies.
Business Model Assessment
The token operates as a standard BEP-20 token with basic transfer functionality. There is no apparent lending, gambling, or interest-bearing mechanisms built into the token's smart contract. The project does not appear to facilitate any activities that would be explicitly forbidden in Islam.
Real-World Adoption
The token primarily sees adoption through trading on decentralized exchanges. While utility appears limited, this is common for meme tokens and does not inherently make it non-compliant from a Shariah perspective.
Development Activity
Development activity appears minimal, with the token functioning as a basic BEP-20 implementation. The project seems to focus more on community building and marketing than technical development.
Token Distribution
Based on available blockchain data, there does not appear to be any excessive concentration of tokens in founder wallets that would indicate a scheme designed purely to enrich founders.
Crypto Impact
To assign a comfort level investing in CAT DOGE 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 DOGE.
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.