SONM (BEP-20)

Halal Rating :
Comfortable
Last Price $0.00 Last updated:
Rank 2592
1D Change -67.29 %
Market Cap $108265.27
Circulating supply 332,312,236
Maximum supply None

Crypto Overview

Categories
  • BNB Chain

Overview

SONM (SNM) was originally launched in 2017 as an ERC-20 token on the Ethereum network with the vision of creating a decentralized fog computing platform. In 2021, the project migrated to the Binance Smart Chain as a BEP-20 token.

Intended Utility

The original purpose of SONM was to serve as a utility token for a decentralized worldwide fog computer platform, enabling users to rent out their computing resources. The SNM token was meant to facilitate payments between computing power providers and consumers within this ecosystem.

Current Status

Based on the most recent available information, SONM appears to be largely inactive. The project's official channels, including their social media and GitHub repository, show minimal to no recent activity. The migration to BEP-20 was not accompanied by significant development updates or ecosystem growth.

Token Distribution and Governance

The original token distribution included allocations for the team, early investors, and the public ICO. However, current detailed information about token distribution after the BEP-20 migration is not readily available through reliable sources.

Technical Implementation

The token exists as a BEP-20 smart contract on the Binance Smart Chain, which enables basic token functionalities like transfers and balance checking. No additional technical features or smart contract innovations are currently being developed.

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).

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