Pitbull
Crypto Overview
Overview
Pitbull is a community-driven, decentralized cryptocurrency launched on the Binance Smart Chain (BSC). The project was created in 2021 as a deflationary token with automatic liquidity generation and redistribution mechanics.
Intended Utility
The primary stated purpose of Pitbull is to serve as a decentralized token that rewards holders through its tokenomics system. The token implements a 2% transaction fee that is distributed among holders and another 2% that is added to the liquidity pool automatically.
Actual Utility and Usage
The token primarily functions as described in its intended utility. The automated liquidity generation and holder redistribution mechanisms are actively working on the blockchain. The project has evolved to include NFT collections and a decentralized exchange (PitSwap).
Token Distribution and Governance
Pitbull launched with no pre-sale and no tokens allocated to the development team. 100% of the initial supply was sent to the liquidity pool and the LP tokens were burned, making it impossible for developers to remove liquidity. Ownership of the contract was renounced at launch, meaning no single entity can modify the contract's functions.
Development and Community
The project operates through community governance, with development work being funded through community contributions. Marketing and development efforts are coordinated through community voting and volunteer efforts.
Crypto Impact
To assign a comfort level investing in Pitbull 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 Pitbull.
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.