wShiba
Crypto Overview
Purpose and Utility
wShiba (WSHIB) is a wrapped version of Shiba Inu (SHIB) token on the Waves blockchain. Its primary purpose is to allow SHIB holders to interact with decentralized applications (dApps) on the Waves ecosystem while maintaining exposure to SHIB.
Business Model
The token functions as a bridge between different blockchain ecosystems, specifically enabling SHIB holders to participate in the Waves DeFi ecosystem. The business model primarily revolves around facilitating cross-chain asset transfers and providing liquidity.
Real-World Adoption
Current data shows limited adoption of wShiba, with most activity concentrated in trading and liquidity provision on Waves-based decentralized exchanges.
Platform Development
As a wrapped token, wShiba's development activity is minimal since it primarily relies on existing infrastructure. The main technical components involve the wrapping mechanism and smart contracts that maintain the 1:1 peg with SHIB.
Token Distribution
wShiba's supply is directly correlated to the amount of SHIB tokens that users choose to wrap. The wrapping process is permissionless and accessible to any SHIB holder.
Founder Analysis
As a wrapped token, wShiba doesn't have traditional founders. Instead, it operates through smart contracts on the Waves blockchain.
Crypto Impact
To assign a comfort level investing in wShiba 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 wShiba.
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.