Monke

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.