Daily Finance

Daily Finance (DLY) is a decentralized finance (DeFi) project claiming to provide a decentralized lending and borrowing platform.

The token's primary purpose appears to be facilitating lending and borrowing services on their platform, where users can lend their crypto assets to earn yield or borrow against their crypto holdings.

From our research, the platform's core functionality revolves around interest-based lending services, which is fundamentally problematic from a Sharia perspective. The lending and borrowing operations are designed to generate profit through interest (riba), which is explicitly prohibited in Islamic finance.

While the project shows active development and has a functioning platform, the underlying business model is centered around interest-bearing loans, which cannot be reconciled with Islamic financial principles unless the lending is done purely as an act of charity without any expectation of additional returns.

The platform also includes yield farming features that are based on interest-bearing mechanisms, further complicating its Sharia compliance status.