CoinFi
Crypto Overview
Project Overview
CoinFi was a cryptocurrency project that aimed to provide trading intelligence and analysis tools for crypto markets. The token (COFI) was intended to be used to access premium features on their platform, including trading signals, news, and analysis.
Current Status
As of 2024, the CoinFi project appears to be defunct. The official website is no longer operational, and there has been no development activity on their GitHub repositories for several years. The token still exists on the Ethereum blockchain but has effectively zero trading volume and liquidity.
Historical Purpose
The intended utility of COFI tokens included: Access to premium research and analysis, Payment for crowd-sourced research contributions, Platform governance rights.
Business Model Assessment
The original business model did not involve any inherently haram activities. The platform was designed to provide market intelligence and research tools, which is permissible from an Islamic finance perspective.
Crypto Impact
To assign a comfort level investing in CoinFi 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 CoinFi.
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.