MiL.k
Crypto Overview
Project Overview
MiL.k is a blockchain-based loyalty point integration platform launched in 2020, primarily focused on the travel and leisure industry in South Korea. The platform allows users to convert various loyalty points from different companies into MLK tokens and vice versa.
Intended Utility
The MLK token serves as an intermediary currency for converting between different loyalty programs, enabling users to combine and utilize points from various partners more effectively. The platform has established partnerships with major South Korean companies including Yanolja (travel), Shinsegae Duty Free, and Korean Air's SKYPASS program.
Actual Usage and Adoption
The platform demonstrates genuine utility through active partnerships and real-world applications. Users can actively exchange loyalty points through the MiL.k app, and the ecosystem continues to expand with new partnerships and features. The project shows consistent development activity and platform updates.
Token Distribution and Governance
The token distribution appears relatively balanced, with a significant portion allocated to ecosystem development and partnerships. The project maintains transparency in its operations and token economics. There are proper vesting schedules for team tokens and early investors, suggesting a long-term commitment to the project.
Revenue Model
The platform generates revenue through transaction fees when users convert points, which is compliant with Islamic principles as it represents a service fee rather than interest. The business model is based on facilitating legitimate trade and services within the loyalty points marketplace.
Crypto Impact
To assign a comfort level investing in MiL.k 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 MiL.k.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
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