Ring AI
Crypto Overview
Purpose and Utility
Ring AI (RING) is a cryptocurrency token that aims to serve as a utility token within the Ring AI ecosystem, which claims to provide AI-powered crypto trading solutions. The project states its purpose is to give users access to AI-driven trading tools and features.
Business Model Analysis
The project's business model centers around providing AI trading tools and features to token holders. While trading itself is permissible in Islam, there is very limited information available about the actual implementation and functionality of the promised AI trading features.
Real-World Adoption
Current adoption appears to be primarily focused on trading activity on decentralized exchanges. There is limited evidence of the promised AI trading features being actively used or implemented.
Development Activity
There is minimal public information available about the development team and their progress on the promised AI trading features. The project's documentation and technical details are sparse.
Token Distribution
Information about token distribution, vesting schedules, and founder allocations is not readily available, making it difficult to assess the fairness of token distribution.
Additional Considerations
The token itself does not appear to directly facilitate any haram activities such as interest-based lending or gambling. The core concept of AI-powered trading tools is permissible from an Islamic perspective, though the current implementation and usage remains unclear.
Crypto Impact
To assign a comfort level investing in Ring AI 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 Ring AI.
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.