Refinable

Overview

Refinable is a marketplace built on the BNB Chain (formerly BSC) that aims to facilitate the creation, trading, and management of NFTs (Non-Fungible Tokens). The FINE token serves as the platform's native utility token, used for governance, trading fee discounts, and platform access.

Purpose and Utility

The intended purpose of FINE is to power the Refinable NFT marketplace ecosystem. Token holders can use FINE for platform governance, reduced trading fees, and accessing exclusive features. The actual current usage aligns with these stated purposes, though trading volume and platform activity have significantly decreased since its 2021 launch.

Business Model Analysis

The business model centers around facilitating NFT trading and creation, which inherently involves the exchange of digital assets. The platform takes a percentage of trading fees, which is a legitimate revenue model. No evidence was found of involvement in prohibited activities like gambling, interest-based lending, or adult content.

Development and Adoption

The project maintains an active development presence, though at a reduced pace compared to its launch period. The marketplace remains functional and continues to process NFT transactions, albeit at lower volumes than during the NFT boom of 2021.

Token Distribution and Governance

Initial token distribution included allocations for the team, advisors, and early investors with standard vesting periods. The project maintains transparency regarding token allocations and vesting schedules. While trading activity dominates token usage, this is common for utility tokens and doesn't impact halal status.