Earn Network
Crypto Overview
Project Overview
Earn Network is a blockchain-based project that provides governance tokens to allow holders to participate in the project's decision-making process. The token also serves as a utility token within the Earn Network ecosystem, primarily focused on DeFi services.
Purpose and Utility
The intended purpose of EARN tokens is to provide governance rights and facilitate transactions within their ecosystem. However, upon investigation, the project appears to be heavily focused on lending and borrowing services, which is its primary use case.
Business Model Analysis
The core business model revolves around decentralized lending and borrowing services, where users can lend their crypto assets to earn yields or borrow assets by providing collateral. This model inherently involves interest-based transactions (riba).
Platform Development and Adoption
The project shows active development on GitHub and maintains regular updates to its protocol. While the platform has some user adoption, the primary usage remains centered around lending and yield generation activities.
Token Distribution
Token distribution information shows a significant portion allocated to the development team and early investors, with standard vesting periods in place. Marketing efforts appear balanced with development activities.
Crypto Impact
To assign a comfort level investing in Earn Network 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 Earn Network.
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.