ClearDAO
Crypto Overview
Project Overview
ClearDAO is a decentralized derivatives platform that aims to provide a protocol for creating and trading derivative products. The project's stated purpose is to offer a platform for synthetic assets and derivatives trading.
Utility Assessment
The platform's main utility revolves around creating and trading derivative financial products using smart contracts. While derivatives trading itself can be halal when involving actual asset exchange, the platform appears to facilitate leveraged trading and speculative derivatives without underlying asset ownership.
Platform Development and Adoption
Research indicates limited recent development activity and low adoption metrics. The project's GitHub repository shows minimal recent commits, suggesting stalled development.
Business Model Analysis
The platform's core functionality centers on derivatives trading and leveraged positions, which in their implementation appear to function more as betting mechanisms than actual asset exchange. The absence of real asset ownership in many of their trading products raises concerns from an Islamic finance perspective.
Token Distribution and Governance
The CLH token serves as a governance token for the protocol and provides access to certain platform features. However, the primary use case appears to be facilitating leveraged trading products that function similarly to gambling mechanisms.
Crypto Impact
To assign a comfort level investing in ClearDAO 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 ClearDAO.
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.