SO-COL
Crypto Overview
Purpose and Utility Analysis
SO-COL (SIMP) is a decentralized fan engagement and social token platform that enables content creators to monetize their social media presence and engage with their fans through exclusive content and interactions. The SIMP token serves as the native currency within the SO-COL ecosystem.
Current Implementation and Usage
The platform allows creators to mint their own social tokens and NFTs, which fans can purchase to access exclusive content and experiences. The SIMP token is used for platform governance, creator token purchases, and ecosystem transactions.
Business Model Evaluation
The core business model revolves around facilitating direct creator-fan relationships and monetization opportunities. The platform does not inherently involve any prohibited activities like gambling or interest-based lending. However, there is no restriction on the type of content that creators can offer, which could potentially include non-halal content.
Development and Adoption
The project maintains active development with regular platform updates and improvements. The ecosystem shows moderate adoption among content creators and their communities, particularly in the Asian market.
Token Distribution and Governance
The token distribution includes allocations for the team, development fund, and community treasury. Team tokens are subject to a vesting schedule to ensure long-term alignment of interests.
Crypto Impact
To assign a comfort level investing in SO-COL 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 SO-COL.
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.