BT.Finance
Crypto Overview
Overview
BT.Finance is a decentralized finance (DeFi) project launched in 2020 that aims to provide automated yield farming optimization. The platform uses smart contracts to automatically allocate users' funds across different DeFi protocols to maximize returns.
Purpose and Utility
The BT token serves as a governance token for the BT.Finance protocol, allowing holders to vote on protocol parameters and proposed changes. The token also captures value from the protocol's performance fees.
Business Model Assessment
The core business model revolves around DeFi lending and yield optimization, which typically involves interest-based mechanisms. This is fundamentally problematic from a Shariah perspective as it relies on riba (interest-based transactions).
Platform Activity
While the protocol showed initial promise, current on-chain data indicates minimal activity on the platform. The development appears to have slowed significantly since 2021, with limited updates to the protocol's codebase.
Token Distribution
The token distribution shows a significant portion allocated to the team and early investors. While this isn't inherently problematic, the vesting schedule and trading patterns suggest concentrated ownership.
Crypto Impact
To assign a comfort level investing in BT.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 BT.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.