Save
Crypto Overview
Project Overview
Save is a cryptocurrency project that aims to create a decentralized savings platform using blockchain technology. The SLND token is built on the Binance Smart Chain network.
Purpose and Utility
The stated purpose of Save is to provide a decentralized platform for users to save and grow their wealth through various DeFi mechanisms. The project implements staking and yield farming features.
Business Model Analysis
The core business model revolves around DeFi lending and borrowing protocols, which generate yields through lending activities. This model raises significant Sharia compliance concerns as it involves riba (interest-based transactions).
Real-World Adoption
The project shows limited real-world adoption, though this alone is not a concern for Sharia compliance. The primary usage appears to be focused on yield farming and lending activities.
Development Activity
The project maintains regular development updates on their GitHub repository, showing ongoing technical maintenance and feature development.
Token Distribution
Token distribution information shows a significant portion allocated to the founding team and early investors, with standard vesting periods in place. While this concentration exists, it does not automatically indicate misconduct.
Crypto Impact
To assign a comfort level investing in Save 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 Save.
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.