Piggy Finance
Crypto Overview
Overview
Piggy Finance is a DeFi (Decentralized Finance) protocol launched on the Binance Smart Chain (BSC). The project aims to provide yield optimization strategies through auto-compounding and reward distribution mechanisms.
Purpose and Utility
The primary stated purpose of PIGGY is to serve as a governance and utility token within the Piggy Finance ecosystem. Token holders can participate in yield farming and staking activities.
Business Model Analysis
The protocol generates revenue through performance fees from its yield optimization strategies. The core mechanisms involve auto-compounding of yields and redistribution of rewards to token holders.
Development and Adoption
The project appears to have limited recent development activity. The last significant updates to their smart contracts were several months ago.
Token Distribution
Token distribution information is not readily available from verifiable sources, which raises transparency concerns. The project's documentation does not provide clear details about token allocation and vesting schedules.
Revenue Model Review
The protocol's revenue model centers on collecting fees from yield optimization services. While yield farming itself is not inherently problematic from a Shariah perspective when it involves actual asset exchange, some of the underlying pools and pairs may involve interest-bearing tokens or impermissible assets.
Crypto Impact
To assign a comfort level investing in Piggy 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 Piggy 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”.
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