SHIBONK
Crypto Overview
Purpose and Utility
SHIBONK (SBONK) is a meme cryptocurrency launched on the Binance Smart Chain. The project's stated purpose is to build a community-driven ecosystem with NFTs and gaming elements. The token incorporates a reflection mechanism that rewards holders with additional tokens from each transaction.
Business Model Analysis
The core business model revolves around community engagement and token redistribution mechanics. A 5% fee is applied to transactions, with 3% redistributed to holders and 2% added to the liquidity pool. This model does not inherently involve any haram activities like interest-based lending or gambling.
Real-World Adoption
Current usage primarily centers around trading and holding for potential appreciation. While initial plans included NFT and gaming developments, these features are still in early stages of development.
Development Activity
The project maintains an active social media presence, though technical development appears limited. The smart contract is based on standard tokenomics features common to BSC tokens.
Token Distribution
Initial token distribution included a fair launch mechanism with no pre-sale. Liquidity is locked, reducing the risk of sudden withdrawals by the team. The contract ownership was renounced, limiting the team's ability to modify the token's functionality.
Crypto Impact
To assign a comfort level investing in SHIBONK 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 SHIBONK.
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.