PalGold
Crypto Overview
Purpose and Utility Assessment
PalGold (PALG) is a cryptocurrency that was recently launched with the stated purpose of facilitating donations to Palestine. The project claims to use blockchain technology to ensure transparent tracking of humanitarian aid.
Business Model Review
The business model appears to be centered around creating a donation platform using blockchain technology. However, upon investigation of their smart contract and on-chain activity, there is insufficient verifiable information about how the donations are actually processed or distributed.
Development and Platform Activity
The project lacks transparency regarding its development team and has minimal verifiable development activity. The smart contract shows basic token functionality but no implementation of the promised donation tracking system.
Token Distribution Analysis
The token distribution information is not publicly available, which raises concerns about transparency. There is no clear documentation about vesting periods or token lock-up mechanisms.
Technical Implementation
The token appears to be a basic ERC-20 implementation without the additional functionality described in their marketing materials. There is no evidence of the promised donation tracking system being implemented at the smart contract level.
Crypto Impact
To assign a comfort level investing in PalGold 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 PalGold.
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.