Philtoken
Crypto Overview
Project Overview
Philtoken (PHIL) is a cryptocurrency developed on the Smart Chain blockchain, positioning itself as a community-driven token with gaming and NFT applications.
Purpose and Utility
The stated purpose of PHIL is to serve as a utility token within their ecosystem, primarily focused on gaming applications and NFT trading. However, current usage appears to be predominantly focused on trading.
Business Model Analysis
The token operates in a permitted space, with no direct involvement in prohibited activities like gambling, interest-based lending, or adult content. The project's focus on gaming and NFTs represents legitimate utility cases under Islamic principles.
Real-World Adoption
Current adoption appears limited, with most activity centered around trading on decentralized exchanges. While promised gaming and NFT functionalities are still in development, this limitation in current utility does not impact its Sharia compliance.
Token Distribution
Token distribution information shows standard vesting schedules for team allocations, with no concerning concentration of tokens that would suggest a scheme to enrich founders.
Crypto Impact
To assign a comfort level investing in Philtoken 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 Philtoken.
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.