SONM (BEP-20)
Crypto Overview
Overview and Intended Utility
SONM (SNM) was originally launched in 2017 as an ERC-20 token on Ethereum, marketed as a 'fog computing' platform aimed at providing decentralized computing resources. The project later migrated to Binance Smart Chain as a BEP-20 token. The intended purpose was to create a decentralized marketplace for computing power, where users could rent out their unused computing resources.
Current Status and Utility Assessment
Investigation reveals minimal current development activity and extremely low trading volume. The original SONM platform appears largely inactive, with no significant updates since 2019. The migration to BSC appears to have been primarily for trading purposes rather than technological advancement.
Token Distribution and Governance
The token distribution information is largely outdated and unclear after the migration to BSC. There is minimal transparency regarding current token holdings and vesting schedules. The project's governance structure appears inactive, with no recent proposals or community decisions.
Development Activity
GitHub repositories show minimal to no recent development activity. The last significant code updates were made several years ago. There is no evidence of an active developer community or ongoing platform improvements.
Real World Adoption
Current on-chain data shows extremely low activity levels. There are no significant partnerships or implementations of the technology in real-world applications. The token appears to be primarily used for speculative trading rather than its intended utility purpose.
Crypto Impact
To assign a comfort level investing in SONM (BEP-20) 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 SONM (BEP-20).
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.
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