RMRK
Crypto Overview
Overview
RMRK (pronounced 'remark') is a set of NFT standards and tools built on Kusama and other blockchain networks. The RMRK token is the native cryptocurrency of the RMRK ecosystem, used for governance and as a utility token within the platform.
Purpose and Utility
The primary purpose of RMRK is to serve as a governance and utility token for the RMRK NFT system. Token holders can participate in governance decisions regarding the protocol's development and use RMRK tokens to access various platform features. The token is actively used for its intended purposes within the ecosystem.
Business Model Analysis
The RMRK protocol focuses on advancing NFT technology through 'nested NFTs' and 'multi-resource NFTs,' allowing for more complex and flexible digital asset representations. The business model is transparent and does not involve any prohibited activities under Islamic law. There is no lending, interest-bearing products, or involvement with haram industries.
Development and Adoption
The project shows consistent development activity with regular updates to the protocol. The team maintains an active GitHub repository and has established partnerships within the Polkadot/Kusama ecosystem. While adoption is still growing, this does not impact its Sharia compliance status.
Token Distribution
The token distribution includes allocations for team members and early investors with standard vesting periods, which is typical for blockchain projects. The distribution structure appears reasonable and doesn't indicate any concerning concentration of tokens.
Crypto Impact
To assign a comfort level investing in RMRK 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 RMRK.
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.