Single token staking pool

Is it permissible to stake a token in a pool to earn other token? I am not asking about specific project, for illustration and clarity, I used fictions name, IFG token.

Here is the tokenomics of this staking pool. There are two kinds of staking pool.

  1. stake IFG to earn IFG.
    In this case the reward IFG came from minting new IFG token. It is part of tokenomics that on every block, 10 new IFG were minted, some of them goes to this pool to reward pool participants (proportional to their stakes in the pool). In this case, the pool basically never ended.

  2. stake IFG to earn other token.
    In this case a sponsor project pre-allocated some amount of their tokens as reward tokens, basically a give-away campaign. On every new block, some number of reward tokens are distributed to pool participants (proportional to their stakes in the pool). The pool ended when all pre-allocated reward tokens were all distributed. The main motivation for sponsoring this pool is mainly for marketing purpose. New project wanted their tokens to be held by many users. Rather than randomly airdropping their tokens to some random wallets, sponsoring a pool like this will be more beneficial as their new project will be known and held by IFG token holders (presumably more established platform).

Personally I am more comfortable in the stake type #2 (as long as the reward token is not haram) as this basically participating in a give-away marketing campaign, but of course I am not an islamic scholar.

Any insights on this matter is greatly appreciated. Jazakallah khair.


May Allah bless you.
If the staking structure is shariah compliant, then the reward can be in the native token of the platform or in a different shariah compliant tokens.

And Allah knows best!

could you update your halal crypto list as BUSD and USDC are partially backed by US treasury bills and US treasury bills are considered haram.

and one thing BNB is also used for lending and borrowing in the binance website , so won’t then BNB be considered haram?