MemePad
Crypto Overview
Overview
MemePad is a cryptocurrency project that presents itself as a launchpad platform specifically focused on meme tokens and NFT projects. The platform aims to provide a space for launching and investing in new meme-based crypto projects.
Purpose and Utility
The primary stated utility of MEPAD is to serve as a governance and access token for the MemePad platform. Token holders can participate in IDO launches and get early access to new meme token projects.
Platform Analysis
The platform appears to be in an early stage of development. While the token exists primarily as a means of facilitating access to new project launches, its current usage appears to be heavily focused on trading.
Business Model Evaluation
The core business model of providing a launchpad for new projects does not inherently conflict with Islamic principles as it involves the exchange of actual assets and provides a service. The platform does not appear to engage directly in lending, gambling, or other prohibited activities.
Token Distribution and Development
Token distribution information and development activity appear limited, though this itself is not a concern from a Shariah compliance perspective as long as actual token ownership transfers occur in transactions.
Crypto Impact
To assign a comfort level investing in MemePad 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 MemePad.
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.