Shoggoth (shoggoth.monster)
Crypto Overview
Project Overview
Shoggoth is a cryptocurrency token launched on the Base network (tracked on shoggoth.monster). It appears to be a community-driven token that combines elements of both meme culture and blockchain utility, inspired by H.P. Lovecraft's fictional creatures.
Purpose and Utility
The token's stated purpose is relatively straightforward - it functions as a tradeable digital asset on the Base network. While no complex utility mechanisms are apparent, the token serves as a means of value transfer and trading between willing participants.
Business Model and Operations
The project appears to operate primarily as a trading token, with ownership rights transferred between parties on decentralized exchanges. No evidence was found of involvement in prohibited activities like gambling, interest-based lending, or adult content.
Development and Community Activity
The project maintains basic infrastructure for token transfers and trading. While development activity appears minimal, this is consistent with the token's straightforward purpose as a tradeable digital asset.
Token Distribution and Founder Involvement
Available information about token distribution and founder involvement is limited. However, the token appears to function as a standard ERC-20 token on the Base network, allowing for permissionless trading between parties.
Crypto Impact
To assign a comfort level investing in Shoggoth (shoggoth.monster) 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 Shoggoth (shoggoth.monster).
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.