A token with more than one usecase, where some use cases may be haram

#1

Is it permissible to invest in a cryptocurrency which offers optional staking (lock funds and receive a fixed reward) but it’s main purpose is as a share in the platform; i.e. the platform fees will be distributed among the holders of the token

Note: the staking doesn’t have any purpose other than to reward long term holders, so you lock funds and receive a fixed reward, the funds cannot be withdrawn by the application or used by anyone.

#2

Assalaamu alaykum,

Without reviewing the entire Crypto-asset, it is difficult to comment.

Amanah Advisors offers a service on reviewing Crypto-assets, you can contact them on www.amanahadvisors.com/token-screening

1 Like
#3

Dear mufti do they have option paying in US dollar ? In amana

#4

Assalaamu alaykum,

Please email on the site, the admin will respond to such queries

#5