Donald Pump
Crypto Overview
Overview and Purpose
Donald Pump (DONALD) is a meme cryptocurrency launched on the Ethereum blockchain in late 2023. Its stated purpose is to serve as a community-driven meme token celebrating former U.S. President Donald Trump, while also incorporating basic token utility through community governance.
Business Model and Utility Assessment
The token operates as a standard ERC-20 token with simple transfer and ownership functionalities. There is no explicit lending, staking, or interest-bearing mechanisms built into the token's smart contract. The project focuses primarily on community building and trading.
Real-World Adoption
The token has gained traction primarily among cryptocurrency traders and meme token enthusiasts. While its adoption is limited, this does not affect its halal classification. Trading activity occurs on decentralized exchanges where actual token ownership is transferred between parties.
Platform Development
The project maintains minimal but functional smart contract infrastructure. While development activity is limited, the basic token functionalities work as intended.
Token Distribution and Founder Analysis
The token launched with a fair distribution model where tokens were made available through decentralized exchanges. No pre-mine or founder allocation was identified in our analysis. The contract ownership was renounced, limiting the ability of creators to modify the token's functionality or extract value maliciously.
Additional Considerations
The token's smart contract does not incorporate any mechanisms that would violate Islamic principles such as riba (interest) or maysir (gambling). All transactions involve actual transfer of token ownership.
Crypto Impact
To assign a comfort level investing in Donald Pump 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 Donald Pump.
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.