Interlay
Crypto Overview
Purpose and Utility
Interlay is a decentralized network that enables Bitcoin to be used in DeFi applications on other blockchains, primarily Polkadot. The INTR token serves as the network's governance token and is used for securing the network through staking.
Key Functions
The primary utility of INTR includes: Governance rights for protocol decisions, Staking to secure the network, Incentivizing users who maintain Bitcoin backing through their interBTC system.
Business Model Analysis
The business model focuses on providing a decentralized bridge for Bitcoin to other networks, particularly enabling BTC holders to participate in DeFi applications. The core operations involve legitimate asset transfers and network security, which align with halal principles as they involve real utility exchange.
Development and Adoption
The project maintains active development with regular updates to their protocol. The team has established partnerships within the Polkadot ecosystem and continues to expand their interoperability solutions.
Token Distribution
The token distribution includes allocations for the team, investors, and community, with vesting periods in place. While there is a significant allocation to the team and investors, this is structured with long-term vesting schedules to align incentives.
Crypto Impact
To assign a comfort level investing in Interlay 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 Interlay.
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.