Strip Finance
Crypto Overview
Overview
Strip Finance is a DeFi protocol that aims to provide NFT-backed loans and leverage trading services. The platform allows users to use their NFTs as collateral to obtain loans in cryptocurrency.
Purpose and Utility
The STRIP token serves as a governance token for the Strip Finance protocol, allowing holders to participate in decision-making processes regarding protocol parameters and updates. It also provides utility through fee discounts on the platform's services.
Business Model and Operations
The core business model revolves around NFT-backed lending and borrowing, where users can collateralize their NFTs to receive loans. The protocol generates revenue through loan origination fees and trading fees.
Development and Adoption
The project has shown limited development activity on their GitHub repositories. The platform has experienced modest adoption, primarily focused on NFT-collateralized lending services.
Token Distribution and Governance
Information about token distribution and vesting schedules is limited in publicly available sources. The governance mechanism allows token holders to vote on protocol changes and parameters.
Crypto Impact
To assign a comfort level investing in Strip 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 Strip 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.