Fluid USDC
Crypto Overview
Overview
Fluid USDC (FUSDC) is a liquid staking derivative token representing staked USDC on the Fluid protocol. The protocol allows users to stake their USDC and receive FUSDC tokens in return, which can be used while the underlying USDC remains staked.
Purpose and Utility
The primary purpose of FUSDC is to provide liquidity while USDC is being staked. Users deposit USDC into the Fluid protocol and receive FUSDC tokens that represent their staked position. These FUSDC tokens can be traded or used in other DeFi protocols while the underlying USDC remains staked.
Business Model
The business model revolves around generating yield through staking and lending activities. Users stake their USDC, and the protocol uses these assets to generate returns through lending markets. This model inherently involves riba (interest) as its core mechanism.
Real-World Adoption
The protocol has achieved some adoption within DeFi ecosystems, primarily being used for yield generation through lending markets. The token is actively traded on various decentralized exchanges.
Platform Development
The Fluid protocol maintains regular development activity with updates to its smart contracts and platform features. The team appears to be actively maintaining and improving the protocol.
Token Distribution
FUSDC tokens are minted when users stake USDC and burned when they unstake. The token supply is therefore directly tied to the amount of USDC staked in the protocol.
Crypto Impact
To assign a comfort level investing in Fluid USDC 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 Fluid USDC.
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.