WHEE (Ordinals)
Crypto Overview
Overview
WHEE is a cryptocurrency token built on the Bitcoin network using the Ordinals protocol. It was created in 2023 as an experimental BRC-20 token.
Purpose and Utility
The primary stated purpose of WHEE is to serve as a tradeable digital asset on the Bitcoin network through the Ordinals protocol. It was one of the first BRC-20 tokens created, essentially acting as a proof of concept for fungible tokens on Bitcoin.
Business Model and Operations
WHEE operates purely as a tradeable digital asset. The token involves direct peer-to-peer trading of actual assets, with ownership rights being transferred on the Bitcoin blockchain.
Development and Platform Activity
As a BRC-20 token, WHEE relies on the Bitcoin network's infrastructure and the Ordinals protocol. There is no separate development team or ongoing platform development required.
Token Distribution
WHEE was launched with a fair distribution model where users could mint tokens through the Ordinals protocol. There was no pre-mine or team allocation, suggesting a relatively fair initial distribution.
Revenue Model
The token does not incorporate any lending, staking, or interest-bearing mechanisms. All value transfer occurs through direct trading of the asset.
Crypto Impact
To assign a comfort level investing in WHEE (Ordinals) 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 WHEE (Ordinals).
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.