Deenar Gold
Crypto Overview
Overview
Deenar Gold (DEEN) is a cryptocurrency project that claims to be backed by physical gold and aims to provide a Sharia-compliant digital currency solution. The project purports to maintain gold reserves equal to the value of tokens in circulation.
Purpose and Utility
The stated purpose of DEEN is to serve as a digital representation of gold ownership, enabling users to transact with gold-backed tokens on the blockchain. The project claims to facilitate gold ownership and trading in a Sharia-compliant manner.
Business Model Evaluation
We were unable to verify current information about this project. Despite extensive research, we could not find reliable, up-to-date documentation about the project's operations, gold reserves, or auditing processes. The project's website appears to be inactive, and there is minimal recent activity in their communication channels.
Real-World Adoption and Usage
Current trading volumes and market activity for DEEN appear to be minimal. We could not verify any significant partnerships or institutional adoption. The lack of transparent information about actual gold reserves and redemption processes raises concerns.
Token Distribution and Governance
Information about token distribution, founder holdings, and vesting schedules is not publicly available. The lack of transparency regarding token economics and governance structure is notable.
Crypto Impact
To assign a comfort level investing in Deenar Gold 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 Deenar Gold.
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.