MonkeDAO
Crypto Overview
Overview
MonkeDAO is a Solana-based decentralized autonomous organization (DAO) that emerged from the Solana Monkey Business (SMB) NFT community. The DAOSOL token serves as the governance token for MonkeDAO, allowing holders to participate in decision-making processes regarding the DAO's activities and treasury management.
Purpose and Utility
The primary purpose of DAOSOL is to serve as a governance mechanism for the MonkeDAO ecosystem. Token holders can participate in proposal voting and help direct the organization's activities. The DAO also focuses on building infrastructure and tools for the broader Solana ecosystem.
Business Model and Activities
MonkeDAO engages in several activities within the Solana ecosystem, including: developing infrastructure tools, supporting Solana-based projects, and managing a community treasury. The organization operates transparently with all proposals and voting visible on-chain.
Development and Adoption
The project maintains active development and community engagement within the Solana ecosystem. The DAO has implemented various initiatives and maintains regular governance activities through its token-based voting system.
Token Distribution
DAOSOL tokens were distributed to SMB NFT holders and community members through various mechanisms. The token distribution appears to be relatively well-distributed among community members, with no concerning concentration among founders.
Technology Assessment
The token operates on the Solana blockchain and implements standard governance functionality. The technical implementation appears straightforward and transparent, without any concerning mechanisms that would violate Islamic principles.
Crypto Impact
To assign a comfort level investing in MonkeDAO 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 MonkeDAO.
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.