Gatsby
Crypto Overview
Gatsby Protocol is a decentralized peer-to-peer prediction platform built on the Arbitrum blockchain. The platform allows users to place bets on various market outcomes using GATSBY tokens as collateral.
The main utility of GATSBY tokens is to participate in the platform's prediction markets and governance system. Token holders can vote on protocol parameters and proposed changes.
Upon investigation, the platform's core functionality appears to be focused on betting and prediction markets, where users can take positions on price movements and other outcomes. These activities constitute zero-sum games where one party's gains are directly derived from another party's losses.
While the project has active development and a clear roadmap, the fundamental use case centers around gambling-like activities rather than legitimate asset exchange or value creation.
The token distribution shows that 20% was allocated to the team and advisors, with standard vesting periods. While this allocation is not unusual for crypto projects, the underlying business model raises concerns from a Shariah perspective.
Crypto Impact
To assign a comfort level investing in Gatsby 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 Gatsby.
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.