Monke
Crypto Overview
Overview
MONKE is a meme cryptocurrency launched on the Solana blockchain in January 2024. The project positions itself as a community-driven meme token celebrating monkey/ape culture in crypto.
Purpose and Utility
The primary stated purpose of MONKE is to serve as a tradeable digital asset and community token. The project doesn't claim any complex utility beyond being a transferable digital asset on the Solana blockchain.
Business Model Analysis
The token operates as a standard SPL token on Solana, allowing for peer-to-peer transfers and trading. There are no lending, staking, or interest-bearing components in the core protocol. The project does not directly facilitate any haram activities like gambling or interest-based lending.
Real-World Adoption
MONKE has achieved significant trading volume on decentralized exchanges like Jupiter and Raydium. While primarily used for trading, this represents legitimate asset exchange between parties.
Development Activity
The project maintains a simple token contract without complex features. This aligns with its stated purpose as a tradeable digital asset.
Token Distribution
The token launched with 50% of supply airdropped to the community, 30% allocated to liquidity pools, and 20% for marketing/development. No excessive founder allocation was identified.
Crypto Impact
To assign a comfort level investing in Monke 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 Monke.
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.