Prom
Crypto Overview
Understanding the Intended Utility
Prom (PROM) is a token native to the Prom.io platform, which serves as a blockchain-based middleware solution that aims to make blockchain technology more accessible to businesses and developers. The platform provides various infrastructure services, including node management, API services, and data synchronization tools.
Primary Use Cases
The PROM token serves multiple utilities within the ecosystem: 1) Governance - token holders can participate in platform decision-making, 2) Payment for services - users must use PROM to pay for infrastructure services on the platform, 3) Staking - validators can stake PROM tokens to secure the network.
Current Implementation and Usage
The platform has demonstrated actual utility through partnerships with various blockchain projects and businesses. The token is actively used for its intended purposes, particularly in accessing API services and node infrastructure. Development activity remains consistent, with regular updates to the platform's infrastructure and services.
Token Distribution and Governance
The token distribution appears relatively balanced, with mechanisms in place to prevent excessive concentration. There are vesting schedules for team allocations, and the project maintains transparency regarding token economics. The development team has maintained consistent progress on their roadmap, focusing on infrastructure development rather than mere token promotion.
Revenue Model and Operations
The platform generates revenue through legitimate business activities, primarily the provision of blockchain infrastructure services. The business model is clear and transparent, with no evidence of interest-based (riba) mechanisms in its core operations. The project focuses on providing technological infrastructure rather than engaging in speculative financial products.
Crypto Impact
To assign a comfort level investing in Prom 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 Prom.
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.