Hakka.Finance
Crypto Overview
Project Overview
Hakka.Finance is a decentralized finance (DeFi) protocol that aims to provide various financial services and tools on the blockchain. The project was launched in 2020 and includes multiple DeFi products.
Purpose and Utility
The HAKKA token serves as the governance token for the Hakka.Finance ecosystem, allowing holders to participate in protocol decisions. It also provides access to various DeFi products within the ecosystem.
Business Model Analysis
The core business model revolves around DeFi services, including yield farming and liquidity provision. A significant concern is that many of these services involve interest-bearing products and lending protocols, which are typically not compliant with Islamic finance principles when not done as charitable acts.
Development and Adoption
The project has shown limited development activity in recent periods, with minimal updates to their GitHub repositories. On-chain data shows declining usage of the protocol's services.
Token Distribution
The token distribution information is not clearly documented in recent periods, making it difficult to assess the current allocation between founders, development team, and public holders.
Crypto Impact
To assign a comfort level investing in Hakka.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 Hakka.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.