Shiva Inu
Crypto Overview
Project Overview
Shiba Inu launched in August 2020 as a decentralized meme token on the Ethereum blockchain. Initially created as a 'Dogecoin killer,' it has evolved to develop actual utility through its ecosystem.
Stated Purpose and Current Usage
The project has expanded beyond its meme origins to include: ShibaSwap DEX for token swaps, NFT marketplace, metaverse development (SHIB: The Metaverse), and Layer-2 blockchain solution (Shibarium) for scalability and lower transaction fees.
Business Model and Operations
The ecosystem generates revenue through trading fees on ShibaSwap, NFT sales, and metaverse land purchases. These activities align with Islamic principles as they involve actual asset exchange and utility creation.
Development Activity and Adoption
The project maintains active development, particularly on Shibarium and the metaverse project. The community (called the ShibArmy) remains engaged, with over 3.4 million wallet holders.
Token Distribution
Initially, 50% of tokens were sent to Vitalik Buterin who burned 90% of his holdings and donated the remainder to charity. The remaining supply is distributed among holders with no significant concentration among founders.
Revenue Model Analysis
Primary revenue streams come from: Trading fees (halal - asset exchange), NFT sales (halal - digital asset ownership), and metaverse land sales (halal - digital property rights).
Crypto Impact
To assign a comfort level investing in Shiva Inu 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 Shiva Inu.
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.