Loon Network
Crypto Overview
Overview
Loon Network is a Layer 2 blockchain network that aims to provide scalable and cost-effective decentralized infrastructure. The LOON token serves as the native utility token for the network, used for governance, staking, and network fees.
Purpose and Utility
The primary stated purpose of Loon Network is to offer a scalable blockchain solution for decentralized applications while maintaining security and decentralization. The LOON token has clear utility within the ecosystem, being used for: 1) Network governance voting, 2) Validator staking, 3) Transaction fee payments.
Business Model
The project's business model centers around providing blockchain infrastructure services, which aligns with Islamic principles as it involves the exchange of real utility and value. The network does not involve interest-based lending or gambling mechanisms.
Development and Adoption
The project is in its early stages with ongoing development activity. While current adoption is limited, this is not a concern from a Sharia compliance perspective as the underlying technology and intended use cases are halal.
Token Distribution
Initial token distribution includes allocations for development (30%), ecosystem growth (25%), team (20%), and public sale (25%). Team tokens are subject to a 2-year vesting period with gradual unlocks, showing commitment to long-term development.
Crypto Impact
To assign a comfort level investing in Loon Network 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 Loon Network.
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.