Metal DAO
Crypto Overview
Understanding the Intended Utility
Metal DAO (MTL) was initially created as part of the Metal Pay ecosystem, aiming to provide a cryptocurrency payment and rewards platform. The project has evolved into a DAO (Decentralized Autonomous Organization) focused on governing the Metal ecosystem, which includes Metal Pay and other financial services.
The token serves multiple purposes: governance rights in the Metal DAO, rewards for Metal Pay users, and utility within the Metal ecosystem. Users can earn MTL tokens through the Metal Pay platform when making eligible purchases, similar to a cashback program but with cryptocurrency.
Actual Utility Assessment
The Metal ecosystem has shown legitimate development activity and real-world adoption. Metal Pay is a functioning payment platform available in most US states, allowing users to buy, sell, and trade cryptocurrencies. The platform has necessary regulatory compliance, including Money Transmitter Licenses.
The transition to a DAO structure has been implemented, giving token holders voting rights on protocol decisions. However, the adoption of governance features appears limited compared to the payment and rewards utility.
Founder Enrichment Analysis
The token distribution shows a relatively balanced allocation, with significant portions reserved for the ecosystem and community. The project maintains transparency through regular updates and public documentation. The founding team, led by Marshall Hayner and Glenn Marien, has maintained consistent involvement and demonstrates commitment to project development rather than short-term gains.
Technical and Revenue Model
The platform generates revenue through trading fees and payment processing, avoiding interest-based income. The reward mechanism (Pop) operates as a marketing incentive rather than an interest-bearing system. The project does not facilitate lending or interest-bearing products.
Crypto Impact
To assign a comfort level investing in Metal DAO 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 Metal DAO.
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.