Food Bank
Crypto Overview
About Food Bank Token (FOOD)
Food Bank Token (FOOD) is a cryptocurrency project that aims to connect food banks and charitable organizations with donors through blockchain technology. The project intends to create transparency in food donations and distribution while incentivizing participation in the ecosystem.
Purpose and Utility
The stated purpose of FOOD token is to serve as a governance and utility token within the Food Bank ecosystem. Token holders can participate in decision-making regarding charitable distributions and earn rewards for contributing to the network through donations or volunteering.
Business Model Assessment
The project's business model appears to focus on charitable activities and community engagement, which aligns well with Islamic principles. There is no evidence of involvement in prohibited activities such as interest-based lending or gambling.
Real-World Adoption
Current adoption appears to be in early stages, with limited partnerships with food banks and charitable organizations being developed. The project is still building its ecosystem and establishing connections with potential partners.
Development Activity
The development team maintains an active GitHub repository with regular updates to the platform's smart contracts and user interface. The project demonstrates ongoing technical development rather than just marketing efforts.
Token Distribution
Based on available data, the token distribution appears reasonable with: 40% allocated to community rewards and charitable initiatives, 30% for development and operations, 20% for partnerships and ecosystem growth, and 10% for the founding team with a 2-year vesting period.
Crypto Impact
To assign a comfort level investing in Food Bank 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 Food Bank.
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.