WoofWork.io
Crypto Overview
Purpose and Intended Use
WoofWork.io (WOOF) presents itself as a cryptocurrency that aims to connect dog owners with dog service providers (walkers, groomers, sitters) through a decentralized marketplace. The WOOF token is intended to be used for payments within this ecosystem.
Business Model
The project's business model revolves around facilitating legitimate pet services through blockchain technology. This core concept aligns with halal principles as it involves real service exchange and clear value creation.
Real-World Adoption
Current adoption appears to be in very early stages. The platform is still under development, with limited real-world usage. While this indicates the project is at an early phase, it does not impact its halal status.
Platform Development
The development team maintains an active GitHub repository with regular commits. The project's roadmap shows planned features including a mobile app and integration with existing pet service platforms.
Token Distribution
According to available data, the token distribution shows: 40% for public sale, 20% for development, 15% for marketing, 15% for team (with 2-year vesting), and 10% for ecosystem growth. The vesting schedule for team tokens suggests some protection against quick selling.
Additional Considerations
The project does not involve interest-based lending or gambling mechanisms. All transactions are based on direct exchange of services and their payment.
Crypto Impact
To assign a comfort level investing in WoofWork.io 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 WoofWork.io.
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.