Mendi Finance
Crypto Overview
Overview
Mendi Finance is a decentralized finance (DeFi) protocol built on Avalanche that aims to provide decentralized lending and borrowing services. The MENDI token serves as the protocol's governance token.
Purpose and Utility
The primary stated purpose of MENDI is to serve as a governance token for the Mendi Finance protocol, allowing holders to participate in decision-making regarding protocol parameters and development. The token also provides incentives for liquidity providers and protocol users.
Business Model Analysis
The core business model revolves around lending and borrowing services, which in their current implementation involve interest-based transactions. The protocol generates revenue through lending fees and token emissions to incentivize platform usage.
Real-World Adoption
The protocol has shown limited adoption since its launch, with most activity centered around trading on decentralized exchanges rather than the intended lending and borrowing functionalities.
Platform Development
The project maintains an active development presence on GitHub, with regular updates to the protocol's smart contracts and user interface. However, the primary focus appears to be on the lending and interest-generating aspects of the platform.
Token Distribution
A significant portion of MENDI tokens is allocated to the team and early investors, with vesting schedules in place. The exact distribution percentages are publicly available in the project's documentation.
Crypto Impact
To assign a comfort level investing in Mendi 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 Mendi 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.
You can change your vote if you change your mind.