Is staking for the purpose of buying IDOs permissible?

IDO platforms allows one to invest in new IDOs only if you stake the platform coin on their platform(the platform coin may be halal or haraam) and without staking one can’t participate in new IDOs.

I don’t want to take any profit from staking the platform coin but just want to be eligible to participate in buying new coins which looks halal to me, is it permissible to do that from shariah perspective?

May Allah bless you.

You cannot stake it if the staked coin, and the structure of the staking are both impermissible, even if the objective is to be able to buy halal tokens.

And Allah knows best!

Thanks @Mufti_Billal, May Allah bless you, I staked on one of the IDO platform(RedKite) and made some profit by participating in IDO of a coin(BlokTopia) which is halal as per one of the app(cryptoHalal), though the IDO platform is not halal as per the cryptoHalal app. So do I need to let go of the profit which I made with the coin or just removing my stake from the platform is enough?
(Also, staking on the platform doesn’t result in any interest being give out to the users, its just the users are able to participate on the basis of their stake of the coin. Does this make it permissible?)

Are there permissible and impermissible structures of staking? Isn’t the staking concept the same across all cryptos?