DeFiner
Crypto Overview
Overview
DeFiner (FIN) is a decentralized finance (DeFi) protocol that aims to provide decentralized lending and borrowing services. The platform was designed to enable users to lend and borrow digital assets while earning interest on deposits.
Purpose and Utility
The primary purpose of the FIN token is to serve as a governance token for the DeFiner protocol, allowing holders to participate in decision-making processes regarding protocol parameters and development. It also provides utility through platform fee discounts and staking rewards.
Business Model Analysis
The core business model revolves around lending and borrowing cryptocurrency assets with interest - this fundamentally conflicts with Islamic principles as it involves riba (interest). While the governance aspects of the token could potentially be considered halal, the primary use case and revenue model is centered on interest-based lending.
Development and Adoption
The project appears to have limited recent development activity and adoption metrics. However, this is not relevant to the Shariah compliance assessment.
Token Distribution
While detailed token distribution information is not readily available, this aspect is not critical to the Shariah assessment given the fundamental issues with the business model.
Crypto Impact
To assign a comfort level investing in DeFiner 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 DeFiner.
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.