RoboFi
Crypto Overview
Project Overview
RoboFi (VICS) is a cryptocurrency project that aims to create an ecosystem for automated crypto trading bots. The platform intends to connect bot creators with users who want to utilize trading bots, with VICS serving as the utility token for the ecosystem.
Purpose and Utility
The primary stated purpose of VICS is to serve as the governance and utility token within the RoboFi ecosystem. Users need VICS tokens to access trading bots, pay for services, and participate in platform governance.
Business Model Analysis
The project's business model centers around facilitating automated trading through bots, with revenue generated from platform fees and services. While trading automation itself is not inherently haram, the platform's focus on leveraged trading and the promotion of high-risk trading strategies raises concerns.
Platform Development and Adoption
Research reveals minimal recent development activity and limited real-world adoption. The project's social media channels and GitHub repository show little to no recent updates, suggesting possible project abandonment or minimal ongoing development.
Token Distribution and Marketing
Detailed information about token distribution and current team involvement is not readily available, which raises transparency concerns. The project's marketing appears to have ceased, with the last significant updates dating back to early 2022.
Crypto Impact
To assign a comfort level investing in RoboFi 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 RoboFi.
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.