Selfie Cat
Crypto Overview
Purpose and Utility
Selfie Cat (SCAT) was launched as a meme cryptocurrency on the BSC network. The project positions itself as a community-driven token inspired by the popularity of cat-themed cryptocurrencies. Its primary stated purpose is to build a community around cat-themed content and memes.
Business Model Analysis
The token operates on a simple buy/sell mechanism with no lending, staking, or interest-bearing components. The business model is primarily focused on community growth and trading. There are no apparent activities that would be considered haram in the project's core functionalities.
Real-World Adoption
The token has gained some traction within the meme coin community, though primarily as a trading vehicle. While utility beyond trading is limited, this does not impact its halal status as real token ownership and transfer occurs with each transaction.
Development and Platform Activity
The project maintains basic social media presence and community engagement. While development activity is minimal, this is consistent with its nature as a meme token and does not affect its halal classification.
Token Distribution and Governance
Token ownership appears relatively distributed among holders, with no concerning concentration in founder wallets that would suggest a scheme to enrich founders. The project implements a standard tax mechanism on transactions that is transparently documented.
Crypto Impact
To assign a comfort level investing in Selfie Cat 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 Selfie Cat.
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.