SocialGood
Crypto Overview
Purpose and Utility
SocialGood (SG) is a utility token designed to reward users with cashback when shopping at partner retailers. The project aims to create a 'Social Good Ecosystem' where users can earn SG tokens through their everyday purchases.
Business Model
The platform operates through partnerships with major retailers like Amazon, eBay, and AliExpress. Users shop through the SocialGood app and receive SG tokens as cashback. The business model itself doesn't involve inherently prohibited activities like interest-based lending or gambling.
Real-World Adoption
The platform has reported over 1.6 million app downloads globally. While adoption exists, actual usage metrics and transaction volumes are not publicly verifiable to the extent desired for a comprehensive assessment.
Platform Development
The project maintains active development of its shopping app and ecosystem. Regular updates are released, and the team continues to expand partnerships with retailers.
Token Distribution and Vesting
The token distribution information is not fully transparent, which is a concern, though not necessarily a deal-breaker from a Shariah perspective. The project implements a vesting schedule for team tokens, but specific details are limited.
Crypto Impact
To assign a comfort level investing in SocialGood 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 SocialGood.
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.