SolFarm
Crypto Overview
Project Overview
SolFarm (SFARM) was a yield aggregation protocol built on the Solana blockchain that has since rebranded to Tulip Protocol. The SFARM token was used for governance and revenue sharing within the protocol's ecosystem.
Purpose and Utility
The token was designed to give holders governance rights over the protocol and a share of protocol revenues. However, after the rebranding to Tulip Protocol, the SFARM token was phased out and replaced with the TULIP token.
Platform Activity
The original SFARM token is no longer actively traded or maintained. The project has fully transitioned to operating under the Tulip Protocol brand with a different token.
Business Model Assessment
The project's original business model involved yield farming and revenue sharing, which raises concerns from an Islamic finance perspective as it involved interest-based lending and borrowing mechanisms.
Token Distribution and Governance
Historical data about token distribution and governance mechanisms is limited due to the project's transition. The original token is effectively defunct.
Crypto Impact
To assign a comfort level investing in SolFarm 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 SolFarm.
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.