Geist Finance
Crypto Overview
Purpose and Utility
Geist Finance is a decentralized lending protocol built on the Fantom blockchain. The GEIST token serves as the governance token for the protocol, allowing holders to participate in decision-making regarding protocol parameters and updates.
Business Model
The protocol operates as a lending and borrowing platform where users can supply assets to earn rewards and borrow against their collateral. The core functionality revolves around interest-bearing lending activities, which is a form of riba.
Real-World Adoption
Geist Finance has achieved significant adoption within the Fantom ecosystem, with substantial total value locked (TVL) in the protocol. The platform maintains active lending markets for various cryptocurrencies.
Platform Development
The protocol shows ongoing development activity, with regular updates to the platform and active community engagement. The team maintains transparency in their operations and development roadmap.
Token Distribution
GEIST tokens are distributed to users who participate in the protocol's lending and borrowing activities. The token distribution model includes allocations for the team and development fund.
Crypto Impact
To assign a comfort level investing in Geist Finance 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 Geist Finance.
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.