Merlin Chain
Crypto Overview
Project Overview
Merlin Chain is a Layer-2 blockchain solution built on Binance Smart Chain (BSC) that aims to provide infrastructure for AI-powered Web3 applications. The project launched in 2023 and positions itself as a platform for integrating artificial intelligence capabilities with blockchain technology.
Purpose and Utility
The primary stated purpose of MERL is to serve as the native utility token of the Merlin Chain ecosystem. Its intended uses include: paying for transaction fees on the network, participating in governance decisions, and incentivizing network validators.
Business Model Analysis
The project focuses on providing blockchain infrastructure for AI applications, which is a permissible use case under Islamic principles. The core technology does not involve any inherently haram activities like interest-based lending or gambling.
Development and Adoption
The project shows active development with regular updates to its infrastructure. While still in relatively early stages, the project has launched its mainnet and has begun attracting developers to build on its platform.
Token Distribution
Initial token distribution includes allocations for development, ecosystem growth, and community incentives. The project has implemented vesting schedules for team tokens, showing consideration for long-term sustainability.
Crypto Impact
To assign a comfort level investing in Merlin Chain 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 Merlin Chain.
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.