Sharky
Crypto Overview
Overview
Sharky is a utility token operating on the Solana blockchain that was created to power a crypto peer-to-peer lending protocol.
Purpose and Utility
The primary stated purpose of SHARK is to facilitate lending and borrowing of NFTs and other digital assets on the Solana blockchain. Users can lend their NFTs through the protocol to earn yields, while borrowers can obtain loans using their NFTs as collateral.
Business Model Assessment
The core business model revolves around lending and borrowing, which when done for profit is generally considered impermissible in Islamic finance unless structured as charitable lending. The protocol charges fees for facilitating these lending transactions and distributes a portion of these fees to SHARK token holders.
Platform Development and Adoption
The project has shown consistent development activity on GitHub and has processed significant lending volume on Solana. The platform has been audited by multiple security firms and maintains active development.
Token Distribution
According to available data, a significant portion of SHARK tokens are held by the protocol treasury and team members, with vesting schedules in place. The token serves as both a governance mechanism and fee-sharing instrument for the protocol.
Crypto Impact
To assign a comfort level investing in Sharky 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 Sharky.
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.