Sonne Finance
Crypto Overview
Overview
Sonne Finance is a decentralized lending protocol built on the Optimism network. The SONNE token serves as the protocol's governance token, allowing holders to participate in decision-making regarding protocol parameters and development.
Purpose and Utility
The primary purpose of SONNE is to incentivize liquidity provision and governance participation in the Sonne Finance ecosystem. Token holders can vote on protocol upgrades, risk parameters, and other governance proposals.
Business Model
The protocol operates as a lending platform where users can supply assets to earn yields and borrow against their collateral. The core business model involves interest-based lending and borrowing, which is typically considered non-compliant with Islamic finance principles when not done as an act of charity.
Platform Development and Adoption
The protocol has shown consistent development activity and maintains active governance participation. The platform has achieved notable adoption on the Optimism network, with significant total value locked (TVL) in its lending pools.
Token Distribution
SONNE tokens were distributed through various mechanisms including liquidity mining, ecosystem incentives, and team allocations. The exact distribution metrics and vesting schedules are publicly available through the protocol's documentation.
Crypto Impact
To assign a comfort level investing in Sonne Finance 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 Sonne Finance.
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.