I would like advise on whether a blockchain investment is Halal or Haraam @Mufti_Faraz_Adam @Mufti_Billal
The company has constructed a DeFi ecosystem that will provide a completely decentralized financial infrastructure for all digital currency users.
Parts of the Ecosystem is already up and running such as digital wallet, financial services and mining. Other parts are being developed such as messaging service and live shows. My money is used to fund different parts of the Ecosystem as well as other projects outside it. When there are 30 million users in the ecosystem, they will then IPO. The company complies with Securities & exchange Commission (American financial regulator)
How it works: it is a membership programme where you get rewards, I get a 0.5% -1% daily passive reward my package, so for $1000 package I get $5 a day. When I have $50 or more I can :
1. take out the money, in MOF* to an exchange like OKEX*, then transfer it to e.g
Binance in USDT before moving it in to a bank account. (this is one way)
2. Add the $50 to my package so instead of $1000, its $1050, and the daily reward is
now $5.25 daily, instead of $5 a day, and so on.
The rewards can increase further when you recommend others. These entrants rewards structure works the same way as described above, however the person introducing them gets get a ‘commission’ of 20% of the entrants package, daily. So using the example above, its $1 a day.
The rewards comes from the different projects they have invested in, the owners are early adopters of bitcoin, they own BW, Blockchain global, ColinStar ( and many more) and they Angel investors. The money paid out is a profit share from those companies.
- MOF is one of the coins owned by the company, the others are HDAO, HCash.
- OXEX is one of the exchanges they own and they have an interest in 40 others, like Binance (they own 3%).
They have also put a side $100 million for liquidity.
Please let me know if this is an halal investment opportunity. JazakAllah.