Pencils Protocol
Crypto Overview
Purpose and Utility
Pencils Protocol (DAPP) is a decentralized protocol designed as a platform for decentralized applications (dApps) and smart contracts, particularly focused on NFT and DeFi applications. The DAPP token serves primarily as a governance and utility token within the ecosystem.
Business Model Analysis
The protocol aims to provide infrastructure for decentralized applications. The token is used for governance voting, staking, and as a means of payment for services within the ecosystem. The business model appears transparent and focused on legitimate blockchain infrastructure development.
Real-World Adoption
Current adoption metrics and on-chain data show limited but growing usage. The protocol has some partnerships with smaller blockchain projects, though specific details about active users and transaction volumes are not readily available.
Development Activity
The project maintains an active GitHub repository with regular commits, indicating ongoing development. The team appears to be focused on building out the core infrastructure and improving the platform's capabilities.
Token Distribution
The token distribution shows a relatively balanced allocation, with approximately 30% reserved for the team and advisors, subject to a 3-year vesting period. The remaining tokens are distributed among the community, ecosystem development, and liquidity provisions.
Crypto Impact
To assign a comfort level investing in Pencils Protocol 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 Pencils Protocol.
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.