Molly
Crypto Overview
Overview
Molly (MOLLY) is a meme cryptocurrency launched on the Solana blockchain in February 2024. The project gained significant attention due to its connection to Sam Bankman-Fried's dog named Molly.
Purpose and Utility
The primary stated purpose of MOLLY is to serve as a community-driven meme token. It does not claim any specific utility beyond being a tradeable digital asset on the Solana blockchain.
Business Model
The token operates purely as a tradeable digital asset. There are no lending, staking, or gambling mechanics built into the protocol. Trading occurs through decentralized exchanges on Solana where actual token ownership is transferred between parties.
Development and Platform Activity
The project maintains basic token functionality on Solana. There is no complex development roadmap or additional features being built.
Token Distribution
Based on available data, the token had a fair launch with no pre-mine for the team. A significant portion of tokens were burned at launch, with the remaining supply distributed among holders.
Marketing and Community
The project relies heavily on social media marketing and community engagement. While marketing-focused, this approach does not impact its halal status as the underlying asset transfer mechanism remains permissible.
Crypto Impact
To assign a comfort level investing in Molly 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 Molly.
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.