Ternoa

Overview

Ternoa is a blockchain protocol designed to enable the creation and transmission of time-capsule NFTs with built-in programmable privacy features. The project aims to provide a decentralized way to transmit digital memories and assets across time.

Purpose and Utility

The primary purpose of CAPS token is to serve as the native utility token of the Ternoa ecosystem. It is used for network fees, governance participation, and accessing various features of the time-capsule NFT platform. The token enables users to create, manage, and transmit NFTs with specific conditions for future access.

Business Model Assessment

The business model appears to be focused on legitimate technological utility through blockchain-based data transmission and storage. The core features involve NFT creation and management, which are permissible activities as they involve actual asset ownership and transfer.

Development and Adoption

The project maintains active development, with regular updates to their GitHub repository. The team has implemented several key features including the NFT marketplace, wallet integration, and time-capsule functionality. While adoption is still in early stages, this doesn't impact the halal assessment.

Token Distribution

The token distribution includes allocations for development, marketing, and ecosystem growth. While detailed vesting schedules are in place for team tokens, this aspect primarily affects investment merit rather than halal status.

Technology Assessment

The underlying technology focuses on NFT creation and management, which involves actual asset ownership and transfer. The platform does not involve interest-bearing mechanisms or gambling features.