
Ooki Protocol
Crypto Overview
Overview
Ooki Protocol (formerly known as bZx Protocol) is a decentralized lending and margin trading protocol built on Ethereum. The OOKI token serves as the protocol's governance token, allowing holders to vote on protocol changes and receive a share of protocol fees.
Purpose and Utility
The primary purpose of Ooki Protocol is to facilitate decentralized lending and margin trading services. Users can lend assets to earn yields, borrow assets by providing collateral, and engage in margin trading. The OOKI token provides governance rights and fee-sharing benefits to holders.
Business Model Analysis
The core business model revolves around interest-based lending and borrowing services, which is problematic from an Islamic finance perspective as it involves riba (interest). The protocol's margin trading functionality also raises concerns as it enables leveraged trading positions.
Platform Development and Adoption
The protocol has undergone significant development since its rebranding from bZx to Ooki. However, its primary functions remain centered around lending and leveraged trading services. The platform maintains active development and regular updates to its protocol.
Token Distribution
The OOKI token distribution includes allocations to the team, early investors, and community. The token serves both as a governance mechanism and a means to participate in the protocol's fee-sharing system.
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they provide lending borrowing feature
Thank you for your contribution, brother. We agree it’s uncomfortable to invest in.
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