TokenFi

Halal Rating :
Comfortable
Last Price $0.048 Last updated:
Rank 673
1D Change -9.97 %
Market Cap $48.28m
Circulating supply 1,000,019,789
Maximum supply 10,000,000,000
Crypto Overview Crypto Impact

Crypto Overview

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Purpose and Utility

TokenFi (TOKEN) is a cryptocurrency launched on the Base network that serves as the governance and utility token for the TokenFi protocol. The project aims to create a platform that simplifies token creation and management for Web3 projects.

Business Model Analysis

The platform provides tools for token creation, management, and distribution. The TOKEN cryptocurrency is used for platform governance, giving holders voting rights on protocol decisions. Users can also stake TOKEN to earn rewards from platform fees.

Real-World Adoption

The project is in its early stages, having launched in late 2023. While trading volume is primarily concentrated on decentralized exchanges, the platform has begun attracting users for its token creation tools.

Platform Development

The development team maintains an active GitHub repository and regularly updates the community through social media channels. The project's roadmap includes expanding token creation features and improving platform functionality.

Token Distribution

The token distribution includes allocations for the team, development fund, and community treasury. Team tokens are subject to a vesting schedule to align long-term incentives. The exact distribution percentages are publicly available in the project's documentation.

Revenue Model

The protocol generates revenue through fees from token creation and management services, which are used to support development and reward TOKEN stakers. This model does not involve interest-bearing mechanisms or lending.

Crypto Impact

To assign a comfort level investing in TokenFi 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 TokenFi.

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.

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