Maple Finance

Halal Rating :
Uncomfortable
Last Price $0.13 Last updated:
Rank 466
1D Change 3.07 %
Market Cap $100.79m
Circulating supply 747,825,856
Maximum supply None

Crypto Overview

Categories
  • Ethereum Ecosystem
  • Binance Alpha

Overview

Maple Finance is a decentralized institutional capital network. The platform functions as a credit marketplace that connects institutional borrowers with lenders. The SYRUP token is used for governance and protocol fee-sharing within the Maple ecosystem.

Purpose and Utility

The intended purpose of Maple Finance is to facilitate undercollateralized lending to institutional borrowers through pool delegates who assess creditworthiness. The SYRUP token enables holders to participate in governance decisions and receive a share of protocol fees.

Business Model Analysis

The core business model revolves around lending and borrowing with interest, which is problematic from an Islamic finance perspective as it involves riba (interest). The platform's primary function is to generate returns through lending activities, which is not permissible unless done as an act of charity.

Platform Development and Adoption

Maple Finance has shown significant development activity and has facilitated hundreds of millions in loans. The platform has partnerships with various institutional players in the crypto space and maintains active development of its protocol.

Token Distribution and Governance

The SYRUP token is primarily used for governance and fee-sharing. Token holders can vote on protocol changes and receive a portion of the fees generated from lending activities.

Crypto Impact

To assign a comfort level investing in Maple Finance 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 Maple Finance.

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.

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