WePiggy Coin

Halal Rating :
Uncomfortable
Last Price $0.000041 Last updated:
Rank 8622
1D Change -1.83 %
Market Cap -
Circulating supply 0
Maximum supply 8,000,000,000
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • Ethereum Ecosystem
  • HECO Ecosystem
  • Polygon Ecosystem
  • Arbitrum Ecosystem
  • Harmony Ecosystem
  • Moonriver Ecosystem
  • Optimism Ecosystem
  • OKExChain Ecosystem

Overview

WePiggy Coin (WPC) is a governance and utility token for the WePiggy protocol, a decentralized lending platform built on multiple blockchains including Ethereum, BNB Chain, OKC, and Polygon.

Purpose and Utility

WPC tokens serve as the governance mechanism for the WePiggy protocol, allowing holders to vote on protocol parameters and development decisions. Token holders can also stake WPC to earn platform fees.

Business Model Analysis

The core business model revolves around decentralized lending and borrowing services, which inherently involves interest-based transactions (riba). The protocol generates revenue through lending fees and interest payments, which are activities that do not align with Islamic finance principles when not done as charitable acts.

Platform Activity and Development

The protocol maintains active development across multiple chains and has implemented various lending pools. The team regularly updates the platform and maintains transparency in their development process through public GitHub repositories.

Token Distribution and Governance

The token is primarily used for governance of the lending protocol and fee distribution to stakeholders. A significant portion of tokens is allocated to the protocol's lending and borrowing incentives.

Crypto Impact

To assign a comfort level investing in WePiggy Coin 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 WePiggy Coin.

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.

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