Crypto Question: Is crypto assets Staking permissible?

I think staking is halal

Reasons
the token are used to secure the network so you are becoming a part of business
the tokens you stake are not used to lend them to another person as loan .the network is using them for transactions fees.
this benefits the community and you . no one is harmed in this process
the rich can become richer and the poor can become rich

i think staking CAKE is haram because the coins (Cakes) which we get by staking are reward by Panecakeswap, and Panecakeswap has also introduced lottery which also becomes source of income for Panecakeswap and when Panecakeswap distributes cakes to the stake holder then i think this becomes haram because basically Panecakeswap shares his profit from lottery earnings also. This is just my understanding, would appreciate if someone correct me. Further forum admins (Mufti) are requested to please advise.

Asalaamulaykum Sheikh,

The link does not seem to work. Are you able to repost a working link or if anyone else has the document, can you post it here?

JazakAllah khair.

Mufti sahb, you have shared this link multiple times but this is not working with anyone. you are requested to please upload it somewhere where we can download this anywhere. Further CAKE coin is now becoming one of the most used coin. you are requested to please share status of CAKE staking w.r.to HALAL / HARAM.

Did you have found the answer about cake and staking cake in pancakeswap?

bit disapointed this thread hadnt been updated or directly answered in relation to crypto.com cro coin staking etc.

seems like u gotta learn the fiqh yourself and deep dive in this field yourself to get the answers

Salaam guys,

we’ve done a few articles on this which should hopefully prove helpful:

  1. https://www.islamicfinanceguru.com/investment/yield-farming-with-crypto-on-binance-an-islamic-guide/
  2. https://www.islamicfinanceguru.com/investment/crypto-staking-the-islamic-perspective-investing-options/

Assalum alikum mufti sahib i have staked Pancake on pancakeswap exchange on soft stacking with an Apy of 88% can you please guide me that does our shariah allows it completely to stake and earn and call it halal,

Waiting for your kind reply

As-salam alay kum Mufti

In regards to Hex token, anyone that stakes (no lending or borrowing involved) is gaurenteed a min. 8% APY through the process of minting new tokens and on the condition that they unstake soon after their stake period ends. However if unstaking takes place either too early or too late there is a risk of losing some or all staking rewards and even the initial investment. Would Hex be considered permissible to invest considering these term? Please if possible can I get a full explaination as to its ruling. Jazakallah