HALAL Screening Cryptocurrency
Is Cheelee Halal?
Complete Shariah Compliance Screening of Cheelee to determine if it is a Halal or Haram cryptocurrency
Legitimacy Screening
What is Cheelee
Cheel is a cryptocurrency that focuses on creating a fun and engaging way for people to earn rewards while participating in various activities, like gaming and social interactions. Think of it as a digital token that you can earn by doing things you already enjoy, such as playing games or sharing content. The idea is to make the experience enjoyable while also giving you a chance to earn some value in the form of these tokens.
What makes Cheel unique is its emphasis on community and interaction. Unlike many other cryptocurrencies that are more focused on trading or investment, Cheel is designed to reward users for being active and involved in their community. It combines the excitement of gaming with the benefits of earning crypto, making it accessible and appealing to a wider audience. So, if you love gaming or socializing online, Cheel offers a fun way to turn those activities into something valuable!
Transparent and Credible Team
The report identifies the key team members, including Ruslan Sharov, Yuriy Cardonov, Roman Alekseev, and Ryan Horn, and details Roman Alekseev's experience as an entrepreneur with a substantial investment portfolio. This suggests a transparent team with some credible history, but the backgrounds of other team members are not detailed, leading to a slightly lower score.
Score: 75
Clear Use Case or Purpose
Cheelee aims to monetize users' time spent on social media by rewarding them with tokens for watching videos, using an "Attention Economy" framework. It has a clear use case that is not a meme coin.
Score: 85
Absence of Fraudulent Behavior
The report notes that Cheelee is verifiable on reputable blockchain explorers like BscScan and CoinPaprika, which enhances its legitimacy. However, there is no mention of third-party audits by cybersecurity firms, which reduces the score.
Score: 70
Ethical Practices
Cheelee rewards user engagement through its "Watch&Earn" feature and provides free NFT glasses upon registration. However, there are no specific ethical practices mentioned relating to operational integrity beyond these elements.
Score: 70
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Cheelee Halal Project Screening
- Are the project’s purpose and operation Shariah Compliant.
- Does the project operate ethically and transparently, without harm to society.
- Does the project promote positive societal or environmental outcomes.
Cheelee Financial Screening
- Does the revenue involve Riba (interest), Gharar (excessive uncertainty), or Haram activities.
- What red flags are hidden within the projects finances and are within permissible limits.
- Types of revenue generation activities and the percentage that may be Riba or interest based.
- Audits from reliable sources
Cheelee Token Screening
- Is the Token governance fair and ethical?
- Are profit-sharing mechanisms (e.g., staking rewards, dividends) compliant with Islamic Finance?
- Does the token’s design, or unlock schedule raise unethical concerns?
- Halal underlying asset, and free from impermissible elements
Is Staking Cheelee Halal?
- Are the staking operation aligned with Shariah-compliant structures.
- Does the staking avoid Gharar (excessive uncertainty) and Maysir (gambling)?
Cheelee Shariah Compliance Score
- Total Shariah Compliance Score out of 100
- 27 different components researched
- More comprehensive than any other platform