Storepay
Crypto Overview
Project Overview
Storepay (SPC) is a blockchain-based payment and retail ecosystem that aims to bridge the gap between traditional retail and cryptocurrency payments. The project's stated purpose is to facilitate easier cryptocurrency adoption in retail settings.
Utility Assessment
Primary intended utilities include: Payment processing for retail transactions, Rewards program for shoppers, Governance mechanism for protocol decisions. Current usage appears to be primarily focused on trading rather than retail adoption, though this is not unusual for early-stage projects.
Business Model Analysis
The project's core business model revolves around facilitating retail transactions and does not inherently involve any prohibited activities like riba or gambling. The payment processing and rewards system are straightforward and transparent.
Development Activity
Development activity appears to be ongoing, though at a moderate pace. The team maintains regular updates to their platform and infrastructure.
Token Distribution
The token distribution includes allocations for the team and early investors, with standard vesting periods in place to prevent immediate dumping. While a significant portion is held by the team, this is not unusual for early-stage projects and doesn't inherently indicate problematic intentions.
Crypto Impact
To assign a comfort level investing in Storepay 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 Storepay.
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.