Ooki Protocol

Halal Rating :
Uncomfortable
Last Price $0.000074 Last updated:
Rank 1970
1D Change -0.81 %
Market Cap $1.02m
Circulating supply 13,716,000,000
Maximum supply 13,835,000,000

Crypto Overview

Categories
  • AI & Big Data
  • Ethereum Ecosystem
  • Polygon Ecosystem
  • Optimism Ecosystem

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.

Rating Justification

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Comments

2 Comments

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S shoaibghani510 | 8 months, 1 week ago

they provide lending borrowing feature


A ahmedrashed1098 | 7 months, 4 weeks ago

Thank you for your contribution, brother. We agree it’s uncomfortable to invest in.

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