BNB & Yeild/Liquidity Farming

Investment Questions and Chats Crypto
#1

Salam @Mufti_Billal @Mufti_Faraz_Adam,

I have a very important question with regard to BNB coin. As in the top 50 IFG Crypto List, it is considered Halal but since Binance now largely offers yeild farming (which is considered not permissible as per the post i read in ifg forum).

As per my knowledge, Basic method of sharia screening is to identify core operations of the coin/tokens. Binance’s core operation is trading. So now could it include yeild farming, which could mean BNB is not not halal anymore?

I see a huge number of similar projects of similar nature. What if I want to use BNB for trading with shariah compliant coin/tokens with BNB pair but buying BNB now involves supporting Binance’s yeild farming?

So my question is, many other coins/tokens like BNB now incorporate yeild farming into their operations, although I stay away from Yeild Farming and Liquidity Farming, is it permissible to invest in such projects now?

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Yield Farming with BNB
#2

Was wondering about this as well. The price of BNB is what it’s at most likely because of the yield farming efforts. So I am staying away from it for now.

I am wondering though, assuming BNB will be declared haram, if we can utilize converting small amounts of other currencies into BNB, and using that BNB to pay the tax fee(which is 75% of the regular fee)

#3

AsSalaamu alaikum.

On Binance, they offer Staking BNB for yield farming TLM. So, rewards are paid in another coin/currency.

https://www.binance.com/en/support/announcement/8d10c09ef69e4287ba01d8840178fcfd

In that particular case, is this type of farming halal?

Best Regards,
Farouq

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