LIGO

Halal Rating :
Uncomfortable
Contract: ba5ed36117cb044135f6d480234653735607fcb59d35674a7c01a5af6efb20c7i0
Last Price $0.00000039 Last updated:
Rank 5183
1D Change 13.18 %
Market Cap -
Circulating supply 0
Maximum supply 1,000,000,000,000

Crypto Overview

Categories
  • Ordinals - BRC20 Ecosystem

Purpose and Utility Assessment

LIGO, formerly known as LuaStarter and Ligoswap, is a decentralized exchange and launchpad platform built on Binance Smart Chain. The project aims to provide a platform for token launches, decentralized trading, and staking services.

Business Model Analysis

The project's core functionalities include: token launch platform, decentralized exchange services, and staking mechanisms. While the trading and launchpad aspects align with halal principles as they involve real asset exchange, the staking and lending features raise concerns from a Sharia perspective.

Adoption and Usage

The platform has shown limited adoption, with most activity centered around trading on decentralized exchanges. The project has undergone several rebrandings and pivots, which has affected consistent usage patterns.

Development Activity

The project maintains some development activity, though updates have been sporadic. The team has implemented several protocol upgrades and continues to maintain the platform's infrastructure.

Token Distribution

Information about token distribution and vesting schedules is limited in recent documentation. This lack of transparency about token allocation raises some concerns, though this alone doesn't make the project impermissible.

Rating Justification

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