Beta Finance
Crypto Overview
Project Overview
Beta Finance is a permissionless money market protocol built on Ethereum that enables users to lend, borrow, and short crypto assets. The project was launched in 2021 and is backed by prominent investors including Alameda Research and Galaxy Digital.
Intended Utility
BETA token serves as the protocol's governance token, allowing holders to participate in decision-making regarding protocol parameters, fee structures, and other important aspects of the platform. Token holders can also stake BETA to earn a portion of the protocol's revenue.
Actual Utility
The platform is actively used for lending and borrowing operations, with real usage metrics showing consistent activity. The protocol has maintained steady development activity, with regular updates and improvements to its core functionality. The development team remains active on GitHub and continues to enhance the platform's features.
Token Distribution and Governance
The token distribution includes allocations for the team, advisors, and early investors with standard vesting schedules to prevent immediate dumping. The project maintains transparency regarding token allocations and vesting periods.
Technology and Revenue Model
The core functionality revolves around lending and borrowing operations that involve interest-based mechanisms. The protocol generates revenue through fees on lending and borrowing activities, which fundamentally involve riba (interest).
Crypto Impact
To assign a comfort level investing in Beta Finance 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 Beta Finance.
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.