SafeMoonCash
Crypto Overview
Project Overview
SafeMoon Cash was launched in May 2021 as a fork of SafeMoon, aiming to be a community-driven token on the Binance Smart Chain. The project implements a mechanism that charges a fee on transactions, with a portion being redistributed to holders and another portion being burned.
Purpose and Utility
The stated purpose of SafeMoon Cash is to serve as a store of value and medium of exchange, with tokenomics designed to reward long-term holders through redistribution mechanisms. The project claims to be focused on building a community-driven ecosystem.
Business Model Analysis
The token operates on a simple redistribution model where transactions are subject to a fee, part of which is redistributed to holders and part is burned to reduce supply. This model itself does not involve any inherently haram activities like interest-bearing loans or gambling.
Real-World Adoption
Current adoption appears to be limited primarily to trading on decentralized exchanges. No significant real-world partnerships or applications have been identified.
Development Activity
Development activity appears minimal, with most updates focused on community engagement rather than technical development.
Token Distribution
Initial token distribution information and current holder statistics are available on blockchain explorers, showing a wide distribution among holders. No concerning concentration of tokens in founder wallets has been identified.
Revenue Model
The primary revenue mechanism is through transaction fees and token appreciation. This model does not involve interest (riba) or other prohibited activities.
Crypto Impact
To assign a comfort level investing in SafeMoonCash 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 SafeMoonCash.
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.
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