Shiba Inu on Base
Crypto Overview
Overview
Shiba Inu (SHIB) on Base is a port of the original Ethereum-based meme cryptocurrency to Coinbase's Base L2 network. The token maintains the same fundamental properties as its Ethereum counterpart but operates on a more cost-efficient layer-2 network.
Purpose and Utility
The primary stated purpose of SHIB on Base is to serve as a medium of exchange and trading asset within the Base ecosystem. While originally launched as a meme token, the project has expanded to include decentralized exchange functionality through ShibaSwap, though this feature is not yet available on Base.
Business Model Evaluation
The token operates primarily as a tradeable digital asset on Base. The business model is straightforward - facilitating peer-to-peer transfers and trading. There are no inherent interest-bearing mechanisms or gambling elements in the core token functionality.
Real-World Adoption
On Base, SHIB serves primarily as a trading asset. While adoption is currently limited on Base specifically, this doesn't impact its Shariah compliance status.
Platform Development
Development activity for SHIB on Base is minimal as it's primarily a token port rather than a full ecosystem deployment. The main development focus remains on the Ethereum mainnet version.
Token Distribution
The token distribution on Base follows the same pattern as the Ethereum version, with liquidity provided through bridges and exchanges. There are no additional token emissions on Base.
Crypto Impact
To assign a comfort level investing in Shiba Inu on Base 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 Shiba Inu on Base.
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.