ISLAMICOIN
Crypto Overview
Overview
ISLAMICOIN (ISLAMI) is a cryptocurrency project launched on the Binance Smart Chain that aims to serve the Muslim community by providing a Sharia-compliant digital currency and ecosystem. The project's stated mission is to create a decentralized economy that adheres to Islamic principles.
Purpose and Utility
The primary stated purposes of ISLAMICOIN include: serving as a medium of exchange for the Muslim community, facilitating charitable giving (Sadaqah and Zakat), and powering an ecosystem of Sharia-compliant DeFi services. The project claims to allocate 5% of transactions to charity.
Business Model Analysis
The token operates primarily as a medium of exchange and store of value. The project has implemented automatic charity distributions and aims to develop Sharia-compliant financial services. There is no evidence of involvement in prohibited activities like interest-based lending or gambling.
Development and Adoption
The project maintains active development with regular updates to their ecosystem. While adoption remains limited, this is not a concern for Sharia compliance purposes. The team has focused on building partnerships within the Islamic finance community.
Token Distribution
The token distribution appears relatively decentralized, with no concerning concentration in founder wallets. The project implements a basic transaction fee structure that includes charitable giving, which aligns with Islamic principles.
Crypto Impact
To assign a comfort level investing in ISLAMICOIN 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 ISLAMICOIN.
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.