Shiba Saga
Crypto Overview
Project Overview
Shiba Saga is a meme cryptocurrency inspired by the Shiba Inu ecosystem, launched in 2023. The project aims to create a community-driven token with gaming and NFT utility elements.
Purpose and Utility
The stated purpose of Shiba Saga is to serve as a governance token within its ecosystem and provide utility through planned gaming features and NFT integrations. Currently, the token primarily functions as a tradeable digital asset.
Business Model Analysis
The project's business model appears to center around community engagement and speculative trading. While gaming features are planned, they have not yet been implemented. The project does not currently involve any apparent haram activities such as interest-based lending or gambling mechanisms.
Token Distribution and Development
Initial token distribution included a fair launch with no pre-sale. Developer wallets hold approximately 3% of the total supply, with tokens locked for a defined period. The development team maintains regular updates through social media channels, though technical development activity is limited.
Real World Adoption
Current adoption is primarily centered around trading on decentralized exchanges. The promised gaming and NFT features are still in development.
Additional Considerations
The project does not involve any interest-bearing mechanisms or explicitly prohibited activities. Trading occurs through standard decentralized exchange mechanisms, representing actual asset ownership and transfer.
Crypto Impact
To assign a comfort level investing in Shiba Saga 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 Saga.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
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