Pal
Crypto Overview
Overview
PAL is an ERC-20 token on the Ethereum blockchain that serves as the utility token for the Palpay ecosystem, a project focused on creating a decentralized payment system. The token launched in 2023.
Purpose and Utility
According to the project documentation, PAL's primary intended use cases include governance rights for protocol decisions, staking capabilities, and serving as a medium of exchange within the Palpay ecosystem.
Business Model
The project aims to facilitate decentralized payments and transfers without relying on traditional interest-based financial systems. The core functionality does not involve inherently prohibited activities.
Development and Adoption
The project is in its early stages with limited real-world adoption. Development activity appears to be ongoing based on GitHub repositories and community updates.
Token Distribution
Token distribution information shows a total supply of 400 million PAL tokens. The exact allocation between team, investors, and community is publicly available through blockchain explorers.
Technology and Revenue Model
The platform's revenue model primarily relies on transaction fees from payment processing rather than interest-based mechanisms. The core technology focuses on payment processing and does not inherently involve prohibited activities.
Crypto Impact
To assign a comfort level investing in Pal 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 Pal.
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.