MONK
Crypto Overview
Project Overview
Monk (MONK) is a cryptocurrency that operates on the Binance Smart Chain (BSC). The project appears to be a meme token with limited documented utility beyond trading.
Purpose and Utility
The stated purpose of MONK is primarily as a tradeable token on decentralized exchanges. There is no clear documentation of additional utility beyond trading and holding.
Business Model and Development
The project does not appear to have a comprehensive whitepaper or detailed roadmap. Development activity appears minimal, with the main focus being on enabling token trading on decentralized exchanges.
Real-World Adoption
Trading volumes and holder numbers suggest limited adoption, though this is not inherently problematic from a Shariah perspective. The token is primarily traded on decentralized exchanges.
Token Distribution
Detailed information about token distribution and founder allocations is not readily available in public documentation. However, the token can be freely traded on decentralized exchanges with actual ownership transfer occurring in each transaction.
Crypto Impact
To assign a comfort level investing in MONK 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 MONK.
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.