Lunar
Crypto Overview
Overview
Lunar (LNR) is a cryptocurrency token built on the Arbitrum Layer-2 blockchain. It positions itself as a Web3 ecosystem focused on providing decentralized finance (DeFi) services.
Purpose and Utility
The stated purpose of Lunar is to serve as a governance token for their ecosystem and provide utility through various DeFi functionalities, including staking and yield generation. The actual current usage appears to align primarily with decentralized trading and speculation.
Business Model Analysis
The project's core offering centers around DeFi services that involve interest-bearing mechanisms and lending protocols, which raises concerns from an Islamic finance perspective. The yield generation aspects of the platform typically involve riba-based transactions.
Development and Adoption
The project shows active development on their GitHub repository and maintains regular updates to their platform. However, the primary usage currently revolves around lending and borrowing activities.
Token Distribution
Token distribution information indicates a significant portion allocated to the team and early investors, with standard vesting periods in place. The project maintains transparency regarding token allocations through their documentation.
Crypto Impact
To assign a comfort level investing in Lunar 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 Lunar.
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.