SHIRO
Crypto Overview
Overview
SHIRO (SHO) is a cryptocurrency that launched in December 2023 on the Solana blockchain. SHIRO aims to build a decentralized options trading platform, with an initial focus on building a loyal community before launching its core trading features.
Purpose and Utility
The stated purpose of SHIRO is to facilitate decentralized options trading and create a community-driven ecosystem. Currently, the token's primary utility is for community governance and as a medium of exchange.
Business Model Analysis
The project's business model centers around decentralized options trading, which raises significant concerns from a Sharia compliance perspective as it involves elements of gambling and speculation without actual asset exchange. The core functionality being developed would essentially enable zero-sum betting on price movements.
Development and Adoption
The project is in its early stages with limited development activity visible on public repositories. The team's focus appears to be primarily on community building and marketing rather than technical development of the promised options trading platform.
Token Distribution
Initial token distribution information shows a significant portion allocated to the team and early investors, with standard vesting schedules in place. The total supply is 100 million tokens.
Crypto Impact
To assign a comfort level investing in SHIRO 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 SHIRO.
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.