Tribal Finance
Crypto Overview
Project Overview
Tribal Finance (TRIBL) is a decentralized finance (DeFi) project that aims to provide financial services to unbanked and underbanked populations through blockchain technology. The project's stated goal is to create a bridge between traditional financial systems and decentralized finance.
Purpose and Utility
The primary purpose of TRIBL is to serve as a governance and utility token within the Tribal Finance ecosystem. Token holders can participate in governance decisions and access various services on the platform.
Business Model Analysis
The project's business model focuses on providing DeFi services, including decentralized lending and borrowing. While lending for profit is generally considered non-compliant with Shariah principles, the whitepaper indicates that all lending operations are meant to be charitable in nature, with any fees going towards platform maintenance rather than profit generation.
Development and Adoption
The project shows active development on GitHub, with regular updates to its smart contracts and platform infrastructure. However, current adoption metrics show limited real-world usage of the platform's intended charitable lending features.
Token Distribution
The token distribution shows a relatively balanced allocation: 30% to community development, 25% to the team (with a 3-year vesting period), 20% for liquidity provision, 15% for marketing, and 10% reserved for future development.
Crypto Impact
To assign a comfort level investing in Tribal 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 Tribal 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.