JPEG'd
Crypto Overview
Overview
JPEG'd is a decentralized lending protocol that allows users to collateralize NFTs (Non-Fungible Tokens) to borrow cryptocurrency. The protocol's native token, JPEG, is used for governance and protocol incentives.
Purpose and Utility
The primary purpose of JPEG'd is to provide lending services against NFT collateral, allowing NFT holders to access liquidity without selling their assets. The JPEG token specifically enables governance participation and provides rewards to protocol participants.
Business Model
The protocol generates revenue through lending fees and liquidation penalties. The core business model revolves around interest-bearing lending services, which raises concerns from an Islamic finance perspective as it involves riba (interest).
Real-World Adoption
The protocol has seen actual usage in the NFT lending space, with active loans and collateralized NFTs. However, the primary utility centers around interest-bearing lending activities.
Platform Development
The project maintains active development with regular updates to the protocol and governance mechanisms. The team continues to expand the range of acceptable NFT collateral and improve the lending infrastructure.
Crypto Impact
To assign a comfort level investing in JPEG'd 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 JPEG'd.
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.