Lucky Block v1
Crypto Overview
Overview
Lucky Block v1 was launched as a cryptocurrency project that aimed to create a global lottery and gaming platform on the blockchain. The project has since been discontinued and replaced with Lucky Block v2.
Purpose and Utility
The intended purpose of LBLOCK v1 was to serve as the native token for a blockchain-based lottery platform. The token was meant to be used for lottery ticket purchases and prize distributions.
Business Model Evaluation
The core business model was centered around lottery and gambling activities, which are explicitly prohibited in Islamic finance. The platform's primary function was to facilitate lottery games, which constitute games of chance (maysir).
Real-World Adoption and Usage
The v1 token has been largely abandoned after the launch of Lucky Block v2. Trading volumes have decreased significantly, and the original lottery platform associated with v1 is no longer operational.
Platform Development
Development on the v1 token has ceased, with the team having moved operations to the v2 token and platform.
Token Distribution and Governance
The project's token distribution and operational details are now largely irrelevant as the v1 token has been effectively discontinued.
Crypto Impact
To assign a comfort level investing in Lucky Block v1 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 Lucky Block v1.
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.