UniLend

Halal Rating :
Uncomfortable
Last Price $0.31 Last updated:
Rank 870
1D Change -3.33 %
Market Cap $26.44m
Circulating supply 85,050,222
Maximum supply None
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • DeFi
  • Ethereum Ecosystem
  • Lending & Borrowing
  • Exnetwork Capital Portfolio
  • Polygon Ecosystem
  • Fantom Ecosystem
  • Injective Ecosystem
  • DWF Labs Portfolio

Overview

UniLend Finance is a decentralized protocol that combines spot trading and money markets with lending and borrowing services using smart contracts. The UFT token serves as the platform's governance token and is required for participating in the protocol's decision-making.

Purpose and Utility

The primary intended use of UFT is governance of the UniLend protocol, allowing token holders to participate in protocol decisions. Additionally, UFT is used for paying transaction fees on the platform.

Business Model Analysis

The core business model revolves around decentralized lending and borrowing services. This aspect raises significant concerns from a Shariah perspective since lending for profit is generally considered impermissible in Islamic finance unless structured as a charitable act.

Development and Adoption

The project maintains active development on GitHub and has implemented multiple versions of its protocol. The platform has integrated with various blockchain networks including Ethereum, Polygon, and Binance Smart Chain.

Token Distribution

UFT has a total supply of 100 million tokens. The distribution includes allocations to the team, advisors, and early investors with standard vesting periods. The project maintains reasonable transparency regarding token distribution.

Crypto Impact

To assign a comfort level investing in UniLend 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 UniLend.

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.

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