Assalamualikum Warahmatullahi wabarakatuh,
Hi Mufti, I want to ask about some new tokens that get launched recently (won’t say the name to prevent the shill).
I wonder if it’s permissible or not.
In short their business model is:
- They charge additional (let say 10%) fee in total for each transaction.
- some of the fees (let say 4%) will be sent to the developer wallet that can be used to maintain and develop the platform.
- some (let say 1%) fee is for community reward or charity
- some (let say 5%) fee will be distributed to all holders proportionally to their token balance (Passive income for all holders) as an incentive for people to hold their tokens.
- The token may have utility or not
Is it halal or haram to get the passive income like this?
there is no lending or borrowing. Only enforce a relatively high fees for all transactions, which by the way is clearly stated on the whitepaper and its website.