SappChat
Crypto Overview
Project Overview
SappChat is a utility token designed to power a decentralized messaging and social media platform. The project aims to provide encrypted communication services while incentivizing user engagement through its native APP token.
Purpose and Utility
The primary stated purpose of APP tokens is to facilitate transactions within the SappChat ecosystem, including paying for premium features, tipping content creators, and participating in platform governance. Users can also stake APP tokens to earn voting rights in platform decisions.
Business Model Analysis
The platform's business model appears to focus on creating a decentralized social media alternative that respects user privacy. The core functionalities do not involve any inherently haram activities like interest-bearing products or gambling.
Real-World Adoption
The platform is in its early stages, with limited but growing adoption. While trading activity currently dominates token usage, this is common for early-stage projects and does not affect halal status.
Development Activity
The project maintains active development with regular updates to their platform and protocol. The GitHub repository shows consistent commits, indicating ongoing technical progress.
Token Distribution
The token distribution includes: 30% for platform development, 25% for community rewards, 20% for the team (with a 2-year vesting period), 15% for marketing, and 10% for liquidity provision. The vesting schedule for team tokens suggests a long-term commitment to the project.
Crypto Impact
To assign a comfort level investing in SappChat 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 SappChat.
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.