DeFine

Halal Rating :
Questionable
Last Price $0.00 Last updated:
Rank 2524
1D Change -4.78 %
Market Cap $104620.21
Circulating supply 257,528,934
Maximum supply 500,000,000

Crypto Overview

Categories
  • Collectibles & NFTs
  • Entertainment

Project Overview

DeFine is a social NFT platform built on the Ethereum blockchain that aims to create a decentralized social networking infrastructure for NFT and metaverse applications. The platform enables creators, artists, and brands to create, trade, and interact through NFTs while building their social networks.

Intended Utility

The DFA token serves as the governance and utility token of the DeFine ecosystem. Its primary purposes include: platform governance voting, staking for platform benefits, NFT creation and trading fees, and rewards distribution for ecosystem participation.

Actual Usage Analysis

The platform shows moderate adoption levels, primarily focused on NFT creation and trading in the Asian market. While the project maintains regular development activity, the token's primary usage appears to be concentrated on cryptocurrency exchanges rather than within its intended ecosystem functions.

Token Distribution and Governance

Initial token distribution included allocations for team members, advisors, and early investors with standard vesting periods. The project implements a transparent governance model where token holders can participate in decision-making processes.

Technical Implementation

The platform operates on Ethereum's ERC-20 standard with smart contracts for NFT functionality using ERC-721 and ERC-1155 standards. The technical architecture appears sound with regular updates and security audits.

Crypto Impact

To assign a comfort level investing in DeFine 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 DeFine.

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.

Justification for our Halal Rating