Investing in new DEX project that has plans to implement Futures trading

Salam, I found this new project on Solana, a decentralized exchange similar to UNI and I was blown away by how easy it is to use. They are an AMM and allow you to trade between coins and they Use Liquidity Pools similar to UNI and SushiSwap. They also have other projects like allowing you to rebalance your token distribution per your plan for example redistribute 50% BTC 30%Eth 20% SOL etc.

I baught this coin since i believed in their potential, but I also now found out that they are planning to release a Centralized Exchange in the near future, and as part of it they will be allowing/enabling future trading. They dont have Futures today but it might be something they enable in 3+ months. Based on that knoweldge am I allowed to hold my investment in this company ? I like them for everything else and all the other development, but I am afraid if its halal now that they are also going to be enabling future trading ? Can I hold this coin and see if they do release futures ? or do i have to sell it now, knowing that they will enable it ?

Its something thats been deep on my mind, Jazakum Allah kheir for helping me here

WaAlaikum AsSalaam,

I am interested also to read the answer to your question, inshaAllah. Yesterday I added Solana Coin to my wallet on Coinbase. I will be dissapointed to reallocate my Solana investment; Yet I am very willing.

It is difficult to find the halal coins. Even USD tethered coin has riba involved, I noticed. Also Tether Coin too. I use cUSD/CELO Gold for my tethered stability. Some are obvious to stay away from like Compound alt coin since Compound is overtly based on Riba.

My opinion. The Crypto Market is definately a lesson in careful discernment. I’ve seen two different opinions on trading futures and am not qualified to aswer that. It’s my opinion that trading future’s is haram. I like to stay away from Gray areas as much as possible. It’s not my intention to defend or promote any point of view.

My intention is that my actions be conservative in doing what is on the Mustaqeen. Jannah is a reward for the pious Believers and the reward is far superior than any wealth of the Dunya. May Allah Subhanaha Wa Ta’ala protect us all from Shaytan and any traps of the Stock, Crypto, Grain Exchange and Money Markets involving riba and any other un-halal practices. May Allah Subhanaha Wa Ta’ala grant Baraka for our intention of doing right. May we all be rightly guided by our Sheikhs and Imams Ameen

1 Like

I also have the same quesiton the reason is, I can see why it is haram but based on this judgement wouldnt it mean BNB is haram since Binance have these haram trading options but on IFG they have deamed BNB token as halal ? any thoughts.