Cat Protocol
Crypto Overview
Cat Protocol (OPCAT) is a decentralized cryptocurrency project launched in late 2023 focused on building solutions around feline-themed content and NFTs. The protocol claims its primary purpose is to provide utility through cat-themed NFTs and digital collectibles while building a community of cat enthusiasts.
Purpose and Utility
The protocol's stated purpose is to serve as a governance token for the Cat Protocol ecosystem, enabling holders to vote on protocol decisions and participate in the NFT marketplace specifically designed for cat-related digital assets.
Business Model Evaluation
The project operates a transparent NFT marketplace where users can trade cat-themed digital collectibles. The business model appears to be based on legitimate commerce of digital assets, with no evidence of involvement in prohibited activities like gambling or interest-based lending.
Real-World Adoption
While still in its early stages, the protocol has demonstrated some adoption through its NFT marketplace transactions and growing community of holders. On-chain data shows active trading of both the OPCAT token and associated NFTs.
Development Activity
The project maintains an active GitHub repository with regular updates to the protocol and marketplace infrastructure. The development team regularly communicates progress through official channels.
Token Distribution
The token distribution shows a reasonable allocation with 40% for public sale, 30% for ecosystem development, 20% for the team (with a 2-year vesting period), and 10% for marketing. Team tokens are subject to a transparent vesting schedule that prevents immediate dumping.
Crypto Impact
To assign a comfort level investing in Cat Protocol 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 Protocol.
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.