King Of Memes
Crypto Overview
Purpose and Utility
KING is a meme cryptocurrency launched on the Ethereum blockchain that positions itself as the 'King of Memes'. The project appears to focus primarily on community building and meme culture within the cryptocurrency space.
Business Model and Operations
The token operates as a standard ERC-20 token on the Ethereum network. Its primary function appears to be facilitating peer-to-peer transactions and serving as a community token for meme enthusiasts. The project doesn't involve any lending, gambling, or explicitly haram activities.
Real-World Adoption
The token has gained traction within the crypto community, particularly among meme token enthusiasts. While its primary use case is trading, this involves real asset exchange between parties.
Platform Development
The project maintains active social media presence and community engagement. While development activity appears minimal, this is consistent with its stated purpose as a meme token.
Token Distribution
The token contract shows no unusual concentration of holdings that would indicate a scheme to enrich founders. Trading appears to be open and transparent on decentralized exchanges.
Additional Considerations
The project does not involve any interest-bearing mechanisms, lending protocols, or activities prohibited under Islamic law. While its utility is limited to trading and community participation, these activities involve real asset exchange and don't constitute gambling.
Crypto Impact
To assign a comfort level investing in King Of Memes 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 King Of Memes.
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.