NiiFi
Crypto Overview
Purpose and Utility
NiiFi is a decentralized exchange (DEX) platform designed to facilitate cross-chain trading and provide DeFi services. The NIIFI token serves as the platform's governance token, allowing holders to participate in decision-making processes.
Business Model Analysis
The platform primarily functions as a trading venue and DeFi protocol. While trading functionality is halal as it involves actual asset exchange, the protocol's DeFi services include interest-based lending and borrowing which are not compliant with Shariah principles.
Real-World Adoption
Current data shows limited adoption of the platform, with most activity centered around trading and liquidity provision. The lending and borrowing features represent a significant portion of the platform's operations.
Development Activity
The project maintains regular development updates and platform improvements, indicating ongoing commitment to the project's development.
Token Distribution
Token distribution appears to be relatively concentrated among early investors and team members, though specific percentages are not publicly available. The project implements standard vesting schedules for team allocations.
Crypto Impact
To assign a comfort level investing in NiiFi 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 NiiFi.
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.