MEME KONG
Crypto Overview
Overview
MEME KONG ($MKONG) is a meme cryptocurrency launched in 2024 on the Ethereum blockchain, drawing inspiration from both King Kong and the meme coin phenomenon. The project presents itself primarily as a community-driven meme token.
Purpose and Utility
The primary stated purpose of MKONG is to serve as a meme token that brings together a community of cryptocurrency enthusiasts. The token can be freely traded on decentralized exchanges and serves as a medium of exchange.
Business Model and Platform Analysis
The project operates on the Ethereum blockchain as an ERC-20 token. The primary utility comes from its tradability and potential for community engagement. There is no evidence of involvement in prohibited activities such as gambling, interest-bearing products, or adult content.
Token Distribution and Development
The token launched with a fair distribution model, with no pre-sale or team allocation. The contract ownership has been renounced, indicating that the developers cannot modify the contract. The token's liquidity is locked, providing some security for traders.
Current Usage and Adoption
The token is primarily used for trading on decentralized exchanges. While its utility is limited to trading and community participation, this does not affect its Sharia compliance as it involves real asset ownership and transfer.
Crypto Impact
To assign a comfort level investing in MEME KONG 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 MEME KONG.
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.