MANTRA
Crypto Overview
Project Overview
MANTRA (OM) is a cryptocurrency project focused on building a decentralized finance (DeFi) ecosystem. The platform aims to provide staking, lending, and governance services while incorporating traditional financial services into the DeFi space.
Purpose and Utility
The primary intended use cases for MANTRA include: governance rights for protocol decisions, staking rewards, and access to platform services. The OM token serves as the native asset of the MANTRA DAO ecosystem.
Business Model Evaluation
The core business model revolves around DeFi services, particularly lending and staking, which raises concerns from an Islamic finance perspective as these activities typically involve interest-based (riba) transactions. The lending protocols are not structured as charitable activities but rather as profit-generating mechanisms.
Real-World Adoption
MANTRA has established partnerships with various blockchain projects and maintains active development. However, the primary usage of the platform centers around lending and interest-bearing activities.
Platform Development
The project maintains regular development activities and updates to its protocol. The team continues to expand the ecosystem's features and capabilities, focusing mainly on DeFi services.
Token Distribution
The token distribution includes allocations for team members, advisors, and early investors with standard vesting periods. While the distribution model appears relatively balanced, the core utility of the token remains tied to interest-bearing activities.
Crypto Impact
To assign a comfort level investing in MANTRA 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 MANTRA.
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.