EverETH Reflect
Crypto Overview
Overview
EverETH Reflect is a BEP-20 token on the Binance Smart Chain that implements a reflection mechanism to distribute Ethereum (ETH) rewards to token holders. The project claims to automatically distribute 8% ETH rewards from each transaction to holders.
Purpose and Utility
The primary stated purpose is to provide passive income in the form of ETH reflections to token holders. The actual usage aligns with this intended purpose, as the smart contract automatically handles ETH distributions.
Business Model Evaluation
The business model relies on trading volume to generate rewards. When users buy or sell EVERETH tokens, a portion of each transaction is converted to ETH and distributed to existing holders. This model involves actual asset ownership and transfer, not zero-sum gambling.
Development and Platform Activity
The project maintains basic functionality for token transfers and reward distribution through its smart contract. There is limited evidence of ongoing development beyond the core reflection mechanism.
Token Distribution and Founder Analysis
The token distribution appears to be decentralized through public trading, with no evidence of excessive founder holdings or concerning vesting schedules that would suggest a scheme to enrich founders.
Additional Considerations
The reward mechanism does not involve lending or interest-based activities. The redistribution of ETH comes from actual trading activity and asset transfers, not lending or borrowing. The project does not facilitate or promote any prohibited activities in Islam.
Crypto Impact
To assign a comfort level investing in EverETH Reflect 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 EverETH Reflect.
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