Monolith
Crypto Overview
Overview
Monolith (TKN) is a DeFi protocol that aims to bridge traditional finance with cryptocurrency through a non-custodial wallet and Visa debit card system. The TKN token serves as a governance and utility token within the Monolith ecosystem.
Purpose and Utility
The primary purpose of TKN is to provide governance rights and rewards to token holders within the Monolith ecosystem. Token holders can participate in platform governance decisions and receive rewards from card transaction fees.
Business Model Assessment
The business model appears transparent and straightforward: providing crypto-to-fiat payment solutions through Visa cards and non-custodial wallets. The platform does not involve interest-bearing products or impermissible activities in its core functionality.
Real-World Adoption
Monolith has achieved notable adoption in Europe, where users can spend their cryptocurrency through Visa cards. The platform maintains active development and regular updates to its infrastructure.
Token Distribution and Governance
The token distribution appears relatively balanced, with no concerning concentration in founder or early investor wallets. The project maintains transparent governance mechanisms where TKN holders can participate in decision-making.
Crypto Impact
To assign a comfort level investing in Monolith 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 Monolith.
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.