Metal DAO
Crypto Overview
Overview
Metal DAO (MTL) is a token originally created in 2017 that powers the Metal Pay ecosystem, a blockchain-based payment processing platform. The project aims to make cryptocurrency payments accessible to mainstream users while incentivizing the adoption of digital assets.
Intended Utility
The MTL token serves multiple purposes within the Metal ecosystem: It functions as a governance token for Metal DAO, provides rewards through the Proof-of-Processed-Payments (PoPP) system, and enables fee discounts on the Metal Pay platform. The token also grants voting rights on protocol decisions and treasury allocations.
Actual Utility
The Metal ecosystem has evolved since its inception. While initially focused on payment processing, the project has expanded to include: Metal Pay - a cryptocurrency payment and trading platform, Metal X - a cryptocurrency exchange, and Metal DAO - a decentralized autonomous organization for governance.
Business Model Analysis
The business model appears legitimate and transparent, focusing on facilitating cryptocurrency payments and trading. The project generates revenue through trading fees and payment processing fees, which are permissible forms of income under Islamic finance principles.
Token Distribution and Governance
The token distribution shows a relatively balanced allocation with no concerning concentration among founders. The DAO structure provides transparency in governance and treasury management. Vesting schedules for team tokens were implemented to ensure long-term alignment.
Development Activity
The project maintains active development, with regular updates to the Metal Pay platform and continued expansion of services. The team has consistently delivered on roadmap items and maintains transparent communication with the community.
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.