Hundred Finance
Crypto Overview
Overview
Hundred Finance is a decentralized lending protocol that operates across multiple blockchain networks including Arbitrum, Gnosis Chain, and Fantom. The protocol allows users to lend and borrow crypto assets, with HND serving as the governance token for the platform.
Purpose and Utility
The primary purpose of HND is to serve as a governance token for the Hundred Finance protocol. Token holders can participate in protocol decisions and earn rewards through liquidity mining. The token is actively used for its intended governance purpose, though the lending mechanism itself raises Shariah concerns.
Business Model
The protocol generates revenue through lending and borrowing activities, where users can deposit assets to earn interest or borrow against their collateral. This core business model involves interest-based lending, which is problematic from an Islamic finance perspective.
Development and Adoption
The protocol shows active development and maintenance across multiple chains. While the platform has achieved some adoption across different networks, the fundamental nature of its operations centers around interest-based lending.
Crypto Impact
To assign a comfort level investing in Hundred 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 Hundred 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.