LIGO
Crypto Overview
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.
Crypto Impact
To assign a comfort level investing in LIGO 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 LIGO.
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.