Chappyz
Crypto Overview
Overview
Chappyz is a newly launched cryptocurrency project based on the ERC-20 token standard on the Ethereum blockchain, featuring a collection of unique NFT characters.
Purpose and Utility
The primary stated purpose of CHAPZ token is to serve as the native currency within the Chappyz ecosystem, enabling purchases of NFTs and future blockchain-based games. The token is also intended to provide governance rights to holders for participating in ecosystem decisions.
Business Model Analysis
The project's business model focuses on NFT trading and community engagement, with plans for expanding into blockchain gaming. The current implementation appears transparent, with smart contracts publicly available for review. No evidence was found of involvement in prohibited activities like gambling, interest-based lending, or adult content.
Real-World Adoption
The project is in its early stages, with most activity currently centered around NFT trading and community building. While adoption is limited, this is not inherently problematic from a Sharia compliance perspective.
Token Distribution
The token distribution includes vesting periods for team allocations, with publicly available information about token allocations. Team tokens are subject to a cliff period followed by gradual vesting, which demonstrates commitment to long-term development.
Development Activity
The project maintains active development on its smart contracts and NFT platform, with regular updates documented on GitHub. The team regularly communicates progress through official channels.
Crypto Impact
To assign a comfort level investing in Chappyz 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 Chappyz.
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.