DomRaider
Crypto Overview
Overview
DomRaider (DRT) was launched in 2017 as a blockchain-based platform for real-time management of auctions. The project aimed to create a decentralized network for managing auctions and domain names using blockchain technology.
Purpose and Utility
The intended purpose was to facilitate transparent and decentralized auctions, particularly focusing on domain names, with smart contracts managing the auction process. The token was meant to be used for participating in auctions and paying for services within the ecosystem.
Current Status
As of 2024, the project appears to be inactive. The official website is no longer operational, and there is no evidence of recent development activity or community engagement. The token has been delisted from major exchanges, and trading volume is virtually non-existent.
Business Model Analysis
The original business model focused on creating a legitimate auction platform, which would have been permissible under Islamic finance principles as it involved actual asset exchange and value creation. The intended use case did not involve prohibited activities like gambling or riba.
Development and Adoption
There is no current evidence of active development or real-world adoption. The project appears to have been abandoned, though this alone does not impact its Sharia compliance status.
Crypto Impact
To assign a comfort level investing in DomRaider 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 DomRaider.
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.