Degen Raffles
Crypto Overview
Overview
Degen Raffles is a cryptocurrency project that appears to be centered around facilitating raffle and lottery-style games on the blockchain. After thorough research, the token seems to primarily enable gambling activities through decentralized raffle mechanisms.
Purpose Analysis
The stated purpose of RAFFLES is to power a decentralized raffle platform where users can participate in various prize draws using the token. The actual implementation aligns with this intended use case, as the token is indeed being used for raffle participation.
Business Model Evaluation
The core business model revolves around users purchasing RAFFLES tokens to enter various raffles and prize draws. This mechanism represents a clear form of gambling where participants stake tokens in hopes of winning larger prizes, with most participants losing their tokens in a zero-sum game.
Platform Activity
The platform shows active usage for its intended purpose of facilitating raffles and prize draws. Development activity appears to be focused on implementing and maintaining the raffle mechanisms.
Token Distribution
While specific token distribution details are limited, this aspect is less relevant given the fundamental nature of the project as a gambling platform.
Crypto Impact
To assign a comfort level investing in Degen Raffles 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 Degen Raffles.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
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