ByteAI
Crypto Overview
Project Overview
ByteAI is a cryptocurrency token launched in 2024 that aims to serve as a utility token within the ByteAI ecosystem, which focuses on AI-powered blockchain solutions. The token is built on the Solana blockchain.
Intended Purpose and Utility
The ByteAI token is designed to serve as the primary medium of exchange within their ecosystem, which includes planned AI-powered DeFi tools and trading analysis platforms. Token holders can use BYTE for governance voting on protocol decisions and accessing premium features of their planned AI tools.
Current Usage and Adoption
As a very new project, ByteAI is still in early development stages. Current usage is primarily centered around trading on decentralized exchanges. While the development of their AI tools is ongoing, no major features have been deployed yet.
Token Distribution
The total supply of BYTE tokens is 100 billion. The initial distribution includes: 30% for public sale, 20% for development fund, 15% for marketing, 15% for team (with 2-year vesting), 10% for ecosystem growth, and 10% for liquidity provision.
Development Activity
The project maintains an active GitHub repository with regular commits. The team provides frequent updates through their official channels about development progress.
Business Model Analysis
The core business model revolves around providing AI-powered blockchain tools, with the BYTE token serving as the primary utility token. The planned features do not inherently involve any haram activities like interest-based lending or gambling.
Crypto Impact
To assign a comfort level investing in ByteAI 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 ByteAI.
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.