Thala (THL)

Decentralized Finance (DeFi) Protocol

Thala is a decentralized finance protocol on the Aptos blockchain that offers a suite of financial products. It enables seamless borrowing of an over-collateralized stablecoin called Move Dollar (MOD) and provides capital-efficient liquidity through a rebalancing automated market maker (AMM) called ThalaSwap.

Stablecoin and Liquidity

Thala supports stablecoin use with Move Dollar, which is designed to maintain a stable value backed by collateral. The protocol also offers various liquidity pools such as weighted pools, stable pools, and liquidity bootstrapping pools to ensure deep and long-term liquidity for users.

Governance and Utility Token

The native token THL is used for transaction fees, governance voting, and participation in the platform’s development. Users can lock THL into veTHL to vote on protocol updates and participate in launchpad events. THL incentivizes users to contribute and engage with the ecosystem.

Liquid Staking

Thala offers liquid staking derivatives on Aptos, allowing users to stake assets and receive tokens representing their staked positions. This creates new use cases and bootstraps liquidity within the DeFi ecosystem.

Trading and Yield Products

Thala consolidates trading and yield products, enabling composable leverage and a smooth user experience for trading and earning yields on the platform.

Ecosystem and Expansion

Thala aims to be a foundational pillar of the Aptos DeFi ecosystem, with plans to expand product offerings, cross-chain deployments, and partnerships with financial institutions to grow mainstream adoption.

Pros

• Thala is a decentralized finance (DeFi) protocol on the Aptos blockchain, offering a suite of trading and yield products that enable composable leverage and a seamless user experience.
• It supports stablecoin use, liquidity provision, and decentralized governance, allowing token holders to vote on important protocol decisions.
• Thala consistently accounts for more than 30% of the spot trading volume on Aptos, showing strong market activity.
• The protocol includes advanced pool architectures such as stableswap, weighted, and liquidity bootstrapping pools.
• Staking THL tokens rewards users with additional tokens, encouraging network security and participation.
• Thala’s ecosystem is designed to be user-friendly, making blockchain technology accessible without requiring extensive technical knowledge.
• The protocol is built with the Move language, enabling efficient borrowing of a decentralized, over-collateralized stablecoin and capital-efficient liquidity provisioning.
• Community governance fosters continuous improvement and innovation.

Cons

• Thala is not currently regulated by any government authority.
• The token is relatively new with limited user reviews and a low user rating on some platforms.
• Market sentiment on social media is mostly neutral to bearish.
• The circulating supply is limited compared to total supply, with a significant portion of tokens locked.
• Thala does not support some popular wallets like MetaMask, which may limit accessibility for some users.
• Price and trading volume can be volatile, with recent price declines noted.
• The project is still developing, with ongoing upgrades and expansions needed to fully realize its potential.

Founders

Thala was founded by Adam Cader, who serves as CEO, and San Lee, the Business Lead.

Background

The team includes members with experience from well-known companies like ParaFi Capital, NEAR, MakerDAO, Twitter, Apple, Amazon, and Google.

Investors in Thala

Thala raised $6 million in its seed round in October 2022. The main investors include ParaFi Capital, Shima Capital, and White Star Capital. Other notable backers are Infinity Ventures Crypto (IVC), LedgerPrime, UOB Ventures, Beco Capital, Qredo, Kenetic Capital, Big Brain Holdings, Builder Capital, Serafund, Saison Capital, and strategic angel investors. Advisors include experienced figures like Nick Chong (ex ParaFi Capital) and Sally Wang (ex Sino Global Capital).

Halal Status of Thala

• No direct listing or certification found: There is no specific information or certification available in the provided data that confirms Thala as halal or haram.
• General principle: Cryptocurrencies are considered halal if the project itself complies with Islamic finance principles, such as avoiding interest (riba), gambling (maysir), and excessive uncertainty (gharar).
• Recommendation: Without clear Shariah compliance or expert certification, the halal status of Thala cannot be confirmed.

Answer: No, there is no available evidence to confirm that Thala is halal.