Wen
Crypto Overview
Purpose and Utility
WEN is a memecoin launched on the Solana blockchain in January 2024. The token's name plays on the crypto community's common question 'wen moon?' or 'when will prices rise?' Its stated purpose is primarily social and community-driven, with no complex utility mechanisms.
Business Model and Operations
The token operates as a simple transfer-of-value cryptocurrency on the Solana network. It does not involve any lending, staking, or interest-bearing components. The project does not facilitate any activities that would be considered haram under Islamic law.
Real-World Adoption
WEN has gained significant trading volume on major exchanges including Binance, Bybit, and MEXC. The token is primarily used for trading and speculation, with actual ownership transfer occurring in each transaction.
Development Activity
As a memecoin, WEN has minimal technical development needs. The token contract is deployed on Solana and functions as intended for basic transfer operations.
Token Distribution
The token launched with 1,000,000,000 WEN supply. There was no pre-mine, no private sale, and no team allocation, suggesting a fair launch model. All tokens were made available to the public through trading.
Crypto Impact
To assign a comfort level investing in Wen 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 Wen.
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.