Aurigami
Crypto Overview
Overview
Aurigami is a decentralized lending protocol built on the Aurora blockchain (NEAR Protocol's EVM-compatible chain). The PLY token serves as the protocol's governance token, allowing holders to participate in decision-making regarding protocol parameters and development.
Purpose and Utility
The primary stated purpose of PLY is to serve as a governance token for the Aurigami protocol. Token holders can participate in governance decisions and receive rewards from protocol fees. The token is actively being used for its stated governance purpose.
Business Model Analysis
The core business model revolves around decentralized lending and borrowing, which involves interest-based transactions. The protocol generates revenue through lending fees and distributes these to PLY stakeholders. This fundamental model raises significant Shariah compliance concerns as it is based on interest-bearing transactions.
Platform Activity and Development
The protocol shows active development and maintains a presence on Aurora, with regular updates and improvements to the platform. The development team remains engaged with the community through various channels.
Token Distribution and Governance
PLY tokens are distributed among the team, investors, and community members. The protocol implements standard vesting schedules for team and investor allocations. The governance system is functional and being used for protocol decisions.
Crypto Impact
To assign a comfort level investing in Aurigami 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 Aurigami.
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.