DogWithCap
Crypto Overview
Overview
DogWithCap (WIC) is a meme cryptocurrency that launched in 2024 as a derivative of popular dog-themed tokens. It positions itself as a community-driven project with plans to develop a decentralized exchange and NFT marketplace.
Purpose and Utility
The stated purpose is to create a fun, community-focused cryptocurrency with plans for practical applications through its proposed DEX and NFT marketplace. Currently, the token primarily functions as a tradeable digital asset on decentralized exchanges.
Business Model Analysis
The project operates on a simple trading model where users can buy and sell actual WIC tokens. There is no evidence of gambling mechanisms, interest-bearing features, or other problematic elements from an Islamic finance perspective.
Real-World Adoption
The token has achieved listing on several decentralized exchanges where genuine trading of the asset takes place. While utility beyond trading is currently limited, this does not impact its permissibility from a Shariah perspective.
Development Activity
The project is in its early stages, with development focused on community building and exchange listings. The team maintains active communication through social media channels.
Token Distribution
Initial token distribution included allocations for liquidity pools, team development, and community rewards. Team tokens are subject to a vesting schedule, showing some consideration for long-term project stability.
Crypto Impact
To assign a comfort level investing in DogWithCap 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 DogWithCap.
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.