Smolcoin
Crypto Overview
Purpose and Utility
Smolcoin (SMOL) is a meme cryptocurrency launched on the Solana blockchain in late 2023. Its stated purpose is to be a community-driven token celebrating 'smol' (small) things. While initially launched as a meme token, it has developed some basic utility through its integration with various Solana-based decentralized exchanges (DEXs) and NFT marketplaces.
Business Model and Operations
The token operates primarily as a tradeable digital asset on the Solana blockchain. Trading occurs through decentralized exchanges, with ownership recorded on-chain. The project has developed partnerships with several Solana ecosystem projects and maintains active development of its platform.
Real-World Adoption
Current usage primarily centers around trading on decentralized exchanges. The token has gained significant trading volume and community engagement within the Solana ecosystem. While utility beyond trading is limited, this is not inherently problematic from a Sharia compliance perspective as real asset ownership and transfer occurs.
Token Distribution
The token distribution includes: team allocation with vesting schedules, community treasury, and public trading supply. While exact percentages are not publicly disclosed, the presence of vesting schedules for team tokens indicates some level of commitment to long-term development.
Crypto Impact
To assign a comfort level investing in Smolcoin 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 Smolcoin.
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.