Snowball
Crypto Overview
Overview
Snowball is a DeFi protocol built on the Avalanche network that aims to simplify yield farming and auto-compounding strategies. The SNOB token serves as the protocol's governance token, allowing holders to participate in decision-making regarding protocol parameters and strategies.
Purpose and Utility
The primary utility of SNOB includes governance rights over the protocol, revenue sharing from protocol fees, and staking capabilities. Token holders can vote on key protocol decisions and earn a share of the platform's revenue.
Business Model
Snowball generates revenue through performance fees on its auto-compounding strategies. The protocol aggregates various DeFi yields across the Avalanche ecosystem, automatically reinvesting returns to optimize user earnings.
Development and Adoption
The project maintains active development on the Avalanche network, with regular updates to its smart contracts and user interface. The protocol has demonstrated consistent usage within the Avalanche DeFi ecosystem, though at a relatively modest scale.
Token Distribution
The token distribution appears reasonably balanced between the team, early supporters, and the community. There are vesting schedules in place for team allocations, which helps align long-term incentives.
Technology Analysis
The core technology focuses on automated yield optimization and does not inherently involve interest-based lending or gambling mechanisms. The protocol's main functions revolve around legitimate asset management and automated trading strategies.
Crypto Impact
To assign a comfort level investing in Snowball 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 Snowball.
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.