Yoroi: Cardano staking

Salaams,

I have a question regarding the permissibility of staking ADA tokens on the Yoroi app/extension. If you stake your tokens then you can earn a return on your investment. It works slightly differently to other tokens “Cardano relies heavily on staking pools, whereas some other blockchains rely heavily on individual staking nodes.”. The following links may help in understanding it better :

JazakAllah

Assalaamu alaykum,

Staking comes in different forms. It all depends on the underlying mechanics. If interest or any other impermissible activity is involved, it will not be permissible.

At present, we are not in a position to comment on individual tokens and consensus protocols on this forum.

JazakAllah for the prompt reply.

If I screen ADA with Amanah advisors, would they also be able to verify the permissibility of staking Cardano.

Assalamalykum Dear Abbas.

I would like to clarify that although I’m not a scholar or mufti that can help in Islamic financial matters.

But I was reading this article and It seems to that staking is not permissible What Is Cryptocurrency Staking and How Can You Use It? (marketrealist.com)

Staking is not a straightforward matter. Given the fact that these are emerging ideas and practices, each staking protocol must be reviewed and studied.

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Waalaykum salaam Zaky

JazakAllah for the response and your help in regards with this matter.

JazakAllah Mufti Faraz

Assalaamu alaykum,
There are many staking pools but it is important to find the one that fits your needs in the most complete way. I found a great article presenting the best staking pools on cardano, if you want to check it out : Best Cardano Stake Pools, 2023 Edition - The Altcoin Oracle
I hope this will help you, if you have any question, please ask :slight_smile:

Please ya sheikh @Mufti_Faraz_Adam please can you make us a video explaining Dpos been halal. I told many of my friends that it is halal, but they said i should provide them with evidences. Please i am begging you in the name of Allah. Please make a video on your YouTube channel about delegated proof of stake. Jazakumul lahu khairan

Please ya sheikh @Mufti_Faraz_Adam please can you make us a video explaining Dpos been halal. I told many of my friends that it is halal, but they said i should provide them with evidences. Please i am begging you in the name of Allah. Please make a video on your YouTube channel about delegated proof of stake. Jazakumul lahu khairan. Please helo us doba video on your YouTube channel. I shall be waiting for your reply ya sheikh.