BasedAI
Crypto Overview
Purpose and Utility
BasedAI ($BASEDAI) is a cryptocurrency that functions as the governance and utility token for the Based AI network, a decentralized platform designed to enable AI model training and deployment. The token is intended to be used for network operations, governance voting, and rewarding participants in the AI training ecosystem.
Business Model Analysis
The business model revolves around providing decentralized AI infrastructure where token holders can participate in governance decisions and earn rewards for contributing computational resources. The core activities involve legitimate technological development and do not inherently involve any prohibited activities under Islamic law.
Real-World Adoption and Development
The project is in its early stages with limited but growing adoption. Development activity appears regular with consistent GitHub commits and protocol updates. The team maintains transparency through regular community updates and technical documentation.
Token Distribution
The token distribution includes allocations for development (20%), community incentives (35%), treasury (25%), and team/advisors (20%) with appropriate vesting schedules. The vesting schedule for team tokens extends over 3 years, indicating a long-term commitment to the project.
Revenue Model and Operations
The project generates revenue through legitimate means including network fees and AI computation services. There is no evidence of interest-based lending or involvement in prohibited industries.
Crypto Impact
To assign a comfort level investing in BasedAI 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 BasedAI.
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.