Meme Network
Crypto Overview
Project Overview
Meme Network (MEME) is a web3 platform that aims to facilitate the creation, trading, and monetization of meme-based content. The project launched in late 2023 and positions itself as a decentralized ecosystem for meme creators and enthusiasts.
Purpose and Utility
The primary stated purpose of MEME is to serve as the native token of the Meme Network ecosystem, where it enables various functionalities: Governance rights for protocol decisions, access to premium features for meme creation and sharing, and incentivizing content creation through rewards.
Business Model Analysis
The platform's core functionality revolves around content creation and sharing, with no inherent interest-bearing mechanisms or gambling elements. The token serves as both a governance and utility token within its ecosystem.
Real-World Adoption
The project is in its early stages, with development ongoing. While trading activity is currently the predominant use case, this doesn't affect its sharia compliance as actual asset ownership transfers occur in these trades.
Token Distribution
The token distribution includes allocations for team members and development, with standard vesting periods in place to prevent immediate selling pressure. While a significant portion is allocated to the team, this alone doesn't impact sharia compliance as it relates to business structure rather than permissibility.
Crypto Impact
To assign a comfort level investing in Meme Network 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 Network.
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.