Monkecoin
Crypto Overview
Purpose and Overview
Monkecoin (MONKE) is a meme cryptocurrency launched in May 2023 on the Solana blockchain. It positions itself as a community-driven token celebrating monkey-themed memes and culture.
Utility Assessment
The primary stated utility of MONKE is to serve as a medium of exchange within its community and as a social token. While it doesn't offer complex technological features, it functions as a transferable digital asset on the Solana network.
Business Model Analysis
The project operates primarily as a community-driven meme token. The business model is simple and transparent - it serves as a tradeable digital asset without complex financial products or prohibited activities. The project does not engage in lending, interest-bearing products, or gambling activities.
Real-World Adoption
MONKE has achieved significant trading volume on decentralized exchanges like Raydium and Jupiter. The token has garnered a substantial community following, though its primary use remains trading rather than utility applications.
Platform Development
The project maintains basic token functionality on the Solana blockchain. While development activity is minimal, this aligns with its straightforward purpose as a meme token.
Token Distribution
The token distribution appears relatively fair, with no excessive concentration among founders or early investors. There was no pre-mine or private sale, suggesting a fair launch approach.
Crypto Impact
To assign a comfort level investing in Monkecoin 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 Monkecoin.
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.