PumaPay
Crypto Overview
Overview
PumaPay was a blockchain-based payment protocol that aimed to facilitate cryptocurrency payments for merchants and customers. The project introduced the PullPayment Protocol, which attempted to enable recurring payments and subscriptions using cryptocurrency.
Purpose and Utility
The intended purpose was to provide a decentralized payment solution that could handle various payment scenarios including recurring billing, pay-per-use, and single payments. The project aimed to solve the reversibility issue in crypto payments and make cryptocurrency more practical for everyday use.
Current Status
As of 2023, PumaPay appears to be inactive. The project's official channels have been dormant since 2021, and there is minimal to no current development activity. The token has effectively ceased trading on major exchanges.
Business Model Analysis
The original business model was halal-compliant, focusing on payment processing without interest-bearing components. The protocol was designed to facilitate legitimate commerce and transactions.
Token Distribution and Development
The project initially had a clear token distribution plan with allocations for development, marketing, and ecosystem growth. However, the project's abandonment raises concerns about the execution of these plans.
Crypto Impact
To assign a comfort level investing in PumaPay 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 PumaPay.
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.