Acala
Crypto Overview
Overview
Acala is built as a DeFi platform and liquidity hub for the Polkadot ecosystem. It aims to provide a suite of financial applications including a decentralized stablecoin (aUSD), an automated market maker (AMM) DEX, and liquid DOT staking.
Purpose and Utility
The primary intended uses of the ASEED token include: Governance of the Acala protocol, Staking for network security, Providing liquidity in DeFi applications.
Business Model Analysis
The core business model revolves around providing DeFi infrastructure. However, a significant portion of the protocol's functionality involves interest-bearing products and lending protocols which are considered problematic from a Shariah perspective.
Real World Adoption
While Acala has established partnerships within the Polkadot ecosystem, the platform's primary use cases center around lending and borrowing activities. The aUSD stablecoin and lending protocols represent the majority of platform activity.
Development Activity
The project maintains active development with regular updates to its protocol and infrastructure. The team continues to build out features and integrate with other Polkadot parachains.
Token Distribution
Initial token distribution allocated significant portions to the team and investors with vesting schedules. The project maintains transparent tokenomics with detailed documentation of allocations.
Crypto Impact
To assign a comfort level investing in Acala 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 Acala.
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.