Solamander
Crypto Overview
Project Overview
Solamander (SOLY) is a Solana-based cryptocurrency that was launched in late 2023. The project aims to create a community-driven ecosystem focused on NFT trading and collectibles on the Solana blockchain.
Purpose and Utility
The stated purpose of SOLY is to serve as a utility token within its ecosystem, primarily for NFT trading, community governance, and access to exclusive content. The token allows holders to participate in community decisions and access certain features of the platform.
Business Model Analysis
The project's business model centers around facilitating NFT trading and community engagement, which in principle does not conflict with Islamic principles as it involves actual asset exchange and community participation.
Current Usage and Adoption
The token is primarily traded on decentralized exchanges on the Solana network. While trading activity is present, the project is still in its early stages of development and adoption.
Development Activity
The project maintains an active development presence, with regular updates to their smart contracts and platform features. The team communicates regularly through their social media channels about development progress.
Token Distribution
The token distribution appears to be relatively well-balanced, with no single entity holding a concerning concentration of tokens. There are vesting schedules in place for team allocations.
Crypto Impact
To assign a comfort level investing in Solamander 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 Solamander.
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.