The First Youtube Cat
Crypto Overview
Overview
The First Youtube Cat (PAJAMAS) is a meme cryptocurrency launched in 2024, inspired by the first cat video uploaded to YouTube. The project aims to create a community-driven token celebrating internet cat culture.
Purpose & Utility
The stated purpose is to serve as a medium of exchange within a community of internet cat enthusiasts and YouTube content creators. The token has no complex smart contract functionality, operating as a simple transfer-of-value token on the Ethereum blockchain.
Business Model & Implementation
The project operates as a straightforward ERC-20 token with basic transfer functionality. There are no lending, staking, or gambling mechanisms implemented. The token can be freely traded on decentralized exchanges where actual ownership transfer occurs.
Real-World Adoption
Current usage primarily revolves around trading on decentralized exchanges. While adoption is limited, this does not impact its Sharia compliance status.
Platform Development
The project maintains a basic smart contract without complex functionality. Development activity is minimal but sufficient for its intended purpose as a transferable token.
Token Distribution
The token has a transparent distribution model with initial liquidity provided to decentralized exchanges. No vesting periods are implemented, but this doesn't affect Sharia compliance as real asset ownership transfers occur in all transactions.
Crypto Impact
To assign a comfort level investing in The First Youtube Cat 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 The First Youtube Cat.
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.