Scopuly
Crypto Overview
Overview
Scopuly (SCOP) is a decentralized cryptocurrency and platform built on the Stellar network. The project aims to provide a decentralized exchange and financial services platform.
Purpose and Utility
The stated purpose of Scopuly is to serve as a utility token within its ecosystem, primarily for trading fees and governance on their decentralized exchange platform. The token is used to pay for transaction fees and provides voting rights in the platform's governance system.
Business Model Assessment
The platform's core business model revolves around facilitating asset exchange and providing financial services infrastructure. The primary utility appears to be legitimate and transparent, focusing on exchange functionality rather than lending or interest-bearing activities.
Real-World Adoption
Current adoption appears to be limited, with most activity centered around trading on smaller exchanges. While the development team maintains regular updates, the actual usage of the platform for its intended purposes remains modest.
Platform Development
The project maintains active development on their platform, with regular updates to their infrastructure. The development activity appears genuine, though at a modest scale.
Token Distribution and Vesting
Available information about token distribution and vesting schedules is limited, making it difficult to fully assess the concentration of ownership. However, there are no clear red flags indicating excessive founder allocation or concerning vesting structures.
Additional Considerations
The platform's basic exchange functionality aligns with Islamic principles as it facilitates actual asset exchange. The project does not appear to be involved in prohibited activities such as interest-based lending or gambling.
Crypto Impact
To assign a comfort level investing in Scopuly 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 Scopuly.
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.