Raft
Crypto Overview
Overview
Raft is a cryptocurrency project launched on the Arbitrum ecosystem that aims to create a decentralized stablecoin protocol. The protocol involves multiple tokens, with RAFT being the governance token that allows holders to participate in the protocol's decision-making process.
Purpose and Utility
The primary purpose of RAFT is to serve as a governance token for the Raft protocol, which aims to create a decentralized stablecoin system. Token holders can participate in governance decisions affecting the protocol's parameters and development.
Business Model
The protocol operates through a system of smart contracts that manage the stablecoin mechanism. The RAFT token itself is used for governance and doesn't directly involve interest-bearing mechanisms. However, the underlying protocol does involve lending and borrowing mechanisms which raise Shariah concerns.
Real-World Adoption
The protocol has gained some traction within the Arbitrum ecosystem, with active governance participation and trading volume. However, the primary utility of the protocol revolves around lending and borrowing activities.
Development Activity
The project maintains active development with regular updates to the protocol and governance proposals. The team appears to be transparent about their development process and roadmap.
Token Distribution
The token distribution includes allocations for the team, early investors, and the community. There are vesting schedules in place for team and investor allocations, showing some commitment to long-term development.
Crypto Impact
To assign a comfort level investing in Raft 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 Raft.
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.