Juggernaut
Crypto Overview
Project Overview
Juggernaut (JGN) is a decentralized finance (DeFi) platform that aims to create a cross-chain lending and trading ecosystem. The project was launched in 2020 and operates on multiple blockchain networks including Ethereum, Binance Smart Chain, and Huobi ECO Chain.
Purpose and Utility
The JGN token serves as the platform's governance token and is used for protocol fees, liquidity mining, and staking. The primary stated use case is to facilitate cross-chain DeFi operations and provide governance rights to token holders.
Business Model Analysis
The core business model revolves around DeFi lending and trading services, which raises immediate concerns from a Shariah perspective since lending with interest (riba) is a fundamental part of the protocol's operations. The platform's main revenue streams come from lending fees and trading fees.
Development and Adoption
While the project maintains some development activity, the primary focus appears to be on its lending and trading features. The platform has seen limited adoption outside of trading and lending activities.
Token Distribution and Governance
The token distribution includes allocations to the team, advisors, and early investors, with vesting schedules in place. The governance mechanism allows JGN holders to participate in protocol decisions.
Crypto Impact
To assign a comfort level investing in Juggernaut 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 Juggernaut.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
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