HUNNY FINANCE
Crypto Overview
Overview
Hunny Finance is a yield farming protocol built on the BNB Chain (formerly Binance Smart Chain). The project aims to provide DeFi services including yield optimization and liquidity provision.
Purpose and Utility
The HUNNY token serves as the native token of the Hunny Finance ecosystem. Its primary purposes include governance voting, yield farming rewards, and staking.
Business Model
The protocol generates returns through yield optimization strategies and liquidity provision. However, the core mechanisms involve interest-bearing activities and lending/borrowing, which are problematic from an Islamic finance perspective as they involve riba.
Development and Adoption
While the project maintains some development activity, the primary focus appears to be on yield farming and lending activities. The platform's main utilities revolve around interest-based DeFi services.
Token Distribution
The token distribution information is limited, but the protocol's tokenomics are designed to incentivize yield farming and lending activities.
Crypto Impact
To assign a comfort level investing in HUNNY FINANCE 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 HUNNY FINANCE.
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.