Nibiru Chain
Crypto Overview
Overview
Nibiru Chain is a proof-of-stake blockchain network focused on decentralized finance (DeFi) applications, specifically designed for derivative trading and perpetual futures. The NIBI token serves as the native cryptocurrency of the Nibiru ecosystem, used for governance, staking, and protocol operations.
Purpose and Utility
The primary purpose of Nibiru Chain is to provide a platform for decentralized perpetual futures trading and derivatives. The NIBI token is used for governance decisions, securing the network through staking, and paying transaction fees within the ecosystem.
Business Model Analysis
The core business model revolves around facilitating leveraged trading and perpetual futures contracts, which essentially constitutes a form of gambling as it creates zero-sum games where one trader's gain is another's loss. While the platform does offer legitimate utility through its proof-of-stake consensus mechanism and governance features, its primary use case centers on leveraged trading activities that are problematic from an Islamic finance perspective.
Development and Adoption
The project shows active development on GitHub and has established partnerships within the Cosmos ecosystem. However, the primary focus remains on developing and promoting leveraged trading functionalities.
Crypto Impact
To assign a comfort level investing in Nibiru Chain 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 Nibiru Chain.
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.