As salamu alaikum wa rahmatullahi wa barakatu IFG team.
I have many questions about the topic of following tokens " chibi inu then shiba inu and similar tokens . These all seem to have either the same or very similar principle . They all talk about rewards which are not clearly declared whether they include interest or not. They say 2.5% of the transaction fees are distributed to the holders some talk about 5 or even 10%. Others reward their holders with more tokens. I have observed that some of my tokens just multiply by themselves in the wallet. They don’t even talk about mining, because that wouldn’t be a problem if they mined themselves. Chibi inu says the following: Chibi loves giving back to the community therefore 2.5% of every trade fees goes back to the holders. We don’t know what they mean. Either they give something back as a percentage of the transaction fees e.g. the 2.5% as stated above or they reward them 2.5% of it in coins. Now the question is of course are tokens or cryptocurrencies interest goods or not? Let’s assume yes and no. Let’s say there are the two opinions. Is it thanks anyway for one of the two opinions interest or not? And if it only applies to one opinion which one is it? Safemoon as an example also has many of these statements. Example following : RFI Static Rewards Holders earn passive rewards through static reflection as they watch their balance of SafeMoon grow indefinitely. Then we would be back to the question above is it an interest asset or not .and on and on like that But you have classified Safemoon as unproblematic according to your last statement. Only many of the small print things are not directly there but always unclear. That too: Automatic LP Every trade contributes towards automatically generating liquidity that goes into multiple pools used by exchanges. However, we already own these tokens and do not know what to do. We need answers urgently because we do not want haram and especially not if it is interest.And if liquidity mining would be halal ?
Thank you very much…jazakallahu khayr
Salam Isa_Yunenni
You raise valid points for tokens that reward their customers who purchase their tokens. To keep things simple; if you are not sure about where these “rewards” come from then i would leave investing in it. Islam was made for our lives to be simple. as what you mentioned is a grey area it is best to leave it. Alternatively you could ask the creators of the token how this reward is generated. Just like you might do with food that contains ingredients which you cant confirm comes from halal or haram resources its best to ask the owners. Hope this helps do let us know your findings jzk
If we could have Mufti’s opinion on this matter that would be really helpful to a lot of people, because a lot of these new upcoming tokens have similar system, and the knowledge and shariah perspective would help a lot.