Ooki Protocol
Crypto Overview
Overview
Ooki Protocol (formerly known as bZx Protocol) is a decentralized finance (DeFi) protocol that enables margin trading, lending, and borrowing of cryptocurrencies. The OOKI token serves as the protocol's governance token, allowing holders to participate in decision-making regarding protocol parameters and upgrades.
Intended Utility
The primary intended utility of OOKI is governance rights over the protocol and fee sharing from protocol operations. Token holders can vote on protocol upgrades, risk parameters, and other important decisions affecting the platform's operation.
Actual Utility
The protocol has seen limited adoption, with most activity centered around its margin trading and lending features. The token is actively used for governance, with regular proposals and voting activity observed on-chain.
Token Distribution
The token distribution includes allocations to the team, early investors, and the community. There are vesting schedules in place for team and investor allocations to prevent immediate selling pressure.
Development Activity
The protocol maintains active development, with regular updates and improvements to the platform. The team continues to work on expanding features and addressing security concerns.
Revenue Model
The protocol generates revenue through trading fees and lending/borrowing operations. A portion of these fees is distributed to OOKI token holders.
Crypto Impact
To assign a comfort level investing in Ooki Protocol 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 Ooki Protocol.
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.