The Complete Halal Crypto List for 2026
112 Shariah-compliant cryptocurrencies, sector-organised and screened against AAOIFI Shariah Standard 17. Click any coin for its overview and Shariah assessment.
Layer 1 42
Is 0G Network (0G) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
0G (Zero Gravity) is a modular AI blockchain that provides a decentralised data availability and storage layer specifically optimised for AI applications, addressing the bottleneck of bringing AI computation fully on-chain. Its architecture separates data availability from execution, using a high-throughput DA network that can handle the large model weights and datasets required for on-chain AI inference. 0G solves the fundamental incompatibility between AI workloads and traditional blockchain infrastructure — existing chains cannot store or serve the gigabytes of data required for AI models at the speeds needed for real-time inference. The network is designed as the data layer for AI dApps, AI agent frameworks, and on-chain machine learning, providing verifiable data provenance for AI outputs. The 0G token is used for staking to secure the data availability network, paying for storage and retrieval services, and governance of the protocol.
Whitepaper: https://docs.0g.ai/
Is DoubleZero (2Z) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
DoubleZero is a decentralised physical infrastructure network (DePIN) building a private, high-performance fibre optic network dedicated to blockchain validator communication, aiming to eliminate the latency overhead that slows consensus propagation on public internet infrastructure. By providing a purpose-built, low-latency backbone network contributed by participants running fibre nodes, DoubleZero reduces the time it takes for block proposals and attestations to propagate across validator sets — directly improving finality times and MEV (maximal extractable value) dynamics across multiple blockchain networks. The protocol solves a fundamental bottleneck in blockchain performance: even with optimised consensus algorithms, validator communication speed is constrained by the variable latency and packet loss of commodity internet routing. Validators on supported networks can subscribe to DoubleZero's network to reduce their propagation latency, gaining competitive advantages while contributing to overall network health. The 2Z token is used to pay for network access, incentivise fibre node operators, and govern the DoubleZero protocol.
Whitepaper: https://doublezero.xyz/
Is Cardano (ADA) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Cardano is a third-generation proof-of-stake blockchain platform developed by IOHK (Input Output Hong Kong), founded by Charles Hoskinson, with a research-first philosophy underpinned by peer-reviewed academic papers. It uses the Ouroboros proof-of-stake protocol — the first PoS protocol to be formally verified with cryptographic security proofs — which divides time into epochs and slots, with stake pool operators elected proportionally to their delegated ADA. Cardano separates the settlement layer (Cardano Settlement Layer, CSL) from the computation layer (Cardano Computation Layer, CCL), allowing each to evolve independently and improving security and upgradeability. It targets sustainability, interoperability, and scalability by integrating formal methods, a treasury system for on-chain governance, and Hydra as a Layer 2 scaling solution. ADA is the native token used for transaction fees, staking and delegation rewards, governance voting, and powering smart contracts on the Plutus platform.
Whitepaper: https://docs.cardano.org/introduction/
Is Algorand (ALGO) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Algorand is a permissionless, pure proof-of-stake blockchain created by MIT cryptographer Silvio Micali, designed to provide a foundation for the global financial system with instant finality and decentralisation. Its consensus protocol — Pure PoS — selects block proposers and committee members via Verifiable Random Functions (VRFs), meaning each participant independently and privately determines their role in each round, making targeted attacks impossible. Algorand solves the classic blockchain trilemma by achieving security, scalability, and decentralisation simultaneously — all confirmed transactions are final with no possibility of forking, and throughput scales with network improvements. The protocol also supports atomic swaps, Algorand Standard Assets (ASA) for tokenisation, and Layer 2 smart contract capabilities through AVM (Algorand Virtual Machine). ALGO is the native token used for transaction fees, staking participation rewards, governance voting, and as collateral within the Algorand DeFi ecosystem.
Whitepaper: https://algorand.com/technology/white-papers
Is Allora (ALLO) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Allora is a decentralised AI inference network where competing AI agents (nodes) submit predictions on any topic — price forecasts, risk scores, sentiment analysis — and a meta-learning layer aggregates those predictions, weighting each agent's input by their demonstrated historical accuracy in a continuous reputation system. Its architecture creates a self-improving prediction market where agents that consistently outperform others receive higher weight in the aggregate output, and earn more rewards, creating economic incentives for developing better AI models. Allora solves the oracle problem for AI predictions: a single AI model's outputs are opaque and unverifiable, but an ensemble of competing, economically incentivised models with on-chain accuracy records provides both better predictions and verifiable accountability. The protocol can produce any quantitative inference — not just price predictions — making it a general-purpose decentralised AI brain for smart contract applications. ALLO tokens are used to reward accurate inference nodes, stake for network participation, and govern the Allora protocol parameters.
Whitepaper: https://allora.network/
Is Aptos (APT) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Aptos is a Layer 1 blockchain developed by former Meta/Diem engineers, designed to deliver safe, scalable, and upgradeable smart contracts through a research-backed approach to programming language design and consensus engineering. It uses the Move programming language — originally developed for the Diem project — which provides resource-oriented programming with formal verification capabilities, preventing common smart contract vulnerabilities like reentrancy and double-spending at the language level. Aptos introduces Block-STM, a parallel transaction execution engine that speculatively executes transactions in parallel and resolves conflicts, achieving high throughput without requiring developers to manually annotate parallelism. It also implements a modular architecture where the execution, storage, and networking layers can be upgraded independently via on-chain governance. APT is the native token used to pay gas fees, participate in network validation through staking, and vote on governance proposals.
Whitepaper: https://aptos.dev/aptos-white-paper/
Is Ark (ARK) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Ark is a blockchain ecosystem platform designed to make blockchain adoption easy for developers and users, providing a modular framework (ACES — Ark Contract Execution Services) for deploying custom blockchains with specific parameters, and a Smart Bridge system for interconnecting different blockchains and triggering cross-chain actions. Its architecture enables "bridgechains" — custom blockchains created from the Ark toolset that can be interconnected via Ark's SmartBridge technology, with encoded listener triggers in transactions that cause automated cross-chain actions when conditions are met. Ark solves the complexity of blockchain deployment and interoperability for businesses and developers who want their own chain without the cost of building from scratch or relying on existing general-purpose chains. Its ACES system allows Ark users to trigger actions on other chains (Ethereum contract calls, Bitcoin transactions) simply by sending an ARK transaction with encoded data. ARK tokens are used for transaction fees, Delegated Proof of Stake voting (for 51 delegates who secure the network), and as the primary currency of the Ark ecosystem.
Whitepaper: https://ark.io/Whitepaper.pdf
Is Astar (ASTR) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Astar Network is a multi-VM smart contract platform on Polkadot that supports both EVM and WebAssembly (Wasm) execution environments in a single chain, allowing developers to build with Solidity or Rust/ink! without compromise. Its signature innovation is "dApp Staking" — a mechanism where users stake ASTR tokens directly on registered dApps rather than only validators, with both stakers and dApp developers earning rewards, creating a sustainable income stream for builders. Astar is connected to the Polkadot relay chain as a parachain, inheriting shared security while enabling cross-chain messaging via XCMP and XCM. It addresses the fragmentation between EVM-native developers and Wasm-based developers by providing a unified runtime, lowering the barrier for projects migrating from Ethereum or building natively on Polkadot. ASTR is used for transaction fees, dApp Staking, governance, and as collateral in the Astar DeFi ecosystem.
Whitepaper: https://docs.astar.network/
Is Avalanche (AVAX) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Avalanche is a high-throughput, customisable blockchain platform created by Ava Labs, designed to enable the deployment of interoperable, application-specific blockchains called "subnets." Its consensus mechanism — Avalanche Consensus — is a novel family of leaderless Byzantine fault-tolerant protocols that achieve finality in under two seconds through repeated random subsampling of the validator set, combining probabilistic guarantees with high efficiency. The platform addresses the need for scalable, customisable blockchain infrastructure by allowing developers to launch their own subnet with custom virtual machines, rules, and validator sets, all secured by the primary Avalanche network. It solves limitations of monolithic chains by allowing workload isolation — each subnet runs independently so congestion on one does not affect others. AVAX is the native token used to pay transaction fees, as a unit of account for staking and validator rewards, and as a shared reserve currency across subnets.
Is Brevis (BREV) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Brev is an emerging blockchain infrastructure project focused on providing developer-friendly compute and deployment tooling for decentralised applications, streamlining the process of deploying and scaling Web3 backends without managing complex infrastructure. The protocol abstracts away the operational complexity of running decentralised nodes, offering a platform-as-a-service layer on top of decentralised infrastructure networks. Brev addresses the developer experience gap in Web3 — while decentralised infrastructure exists, the tooling for deploying and maintaining production applications remains significantly more complex than centralised cloud alternatives. The project is in early development with limited public documentation at time of writing. BREV tokens are used to pay for compute services on the network and participate in protocol governance.
Whitepaper: https://brev.network/
Is Bitcoin (BTC) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Bitcoin is a peer-to-peer electronic cash system introduced by the pseudonymous Satoshi Nakamoto in 2008, designed to allow online payments to be sent directly between parties without a financial institution. It operates on a decentralised network of nodes that validate transactions using a proof-of-work (PoW) consensus mechanism, where miners compete to solve cryptographic puzzles and add blocks to the chain. The core problem it solves is the double-spend problem in digital cash — ensuring the same unit cannot be spent twice without a trusted third party. Bitcoin's fixed supply cap of 21 million coins, enforced by protocol rules, is central to its monetary policy and positions it as a store of value resistant to inflation. BTC is the native token used to pay transaction fees, reward miners, and serve as the network's medium of exchange and unit of account.
Whitepaper: https://bitcoin.org/bitcoin.pdf
Is Celo (CELO) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Celo is a mobile-first Layer 1 blockchain platform designed to make financial tools accessible to smartphone users globally, particularly in developing economies, with a focus on stablecoin payments via phone number-based addressing. Its protocol allows users to send stable value (cUSD, cEUR, etc.) to any mobile number without requiring the recipient to know their public key — a phone number verification system using ODIS (Oblivious Decentralised Identifier Service) maps phone numbers to addresses. Celo uses a proof-of-stake consensus (a modified version of Istanbul BFT) and a novel stability mechanism where its stablecoins are backed by a reserve of diversified crypto assets managed algorithmically. It solves the last-mile problem of crypto payments — the UX complexity that prevents ordinary people from receiving or spending cryptocurrency — by abstracting wallets behind familiar identifiers. CELO is the native governance and staking token, while the protocol's stablecoins (cUSD, cEUR, cREAL) are used as the transactional medium.
Whitepaper: https://celo.org/papers/whitepaper
Is Nervos (CKB) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Nervos CKB (Common Knowledge Base) is a Layer 1 proof-of-work blockchain designed as a universal verification layer that stores cryptographic proofs rather than arbitrary state, making it a secure settlement base for a multi-layer network architecture. Its unique Cell model — inspired by Bitcoin's UTXO but generalised — represents all on-chain state as cells with typed data and associated scripts, enabling a programming model that is more expressive than Bitcoin and more controllable than Ethereum's account model. CKB solves the state bloat problem that plagues most smart contract chains: occupying on-chain storage requires locking CKB tokens proportional to the storage used, creating an economic mechanism that keeps state lean and rewards long-term token holders. The Nervos architecture uses CKB as the secure base layer while transactional throughput is handled by Layer 2 solutions like Godwoken (EVM-compatible). CKB tokens represent the right to store data on the blockchain; holding CKB passively earns yield through the Nervos DAO as inflation targets occupied storage.
Whitepaper: https://github.com/nervosnetwork/rfcs/blob/master/rfcs/0002-ckb/0002-ckb.md
Is Polkadot (DOT) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Polkadot is a heterogeneous multi-chain protocol conceived by Ethereum co-founder Gavin Wood, designed to enable multiple purpose-built blockchains (called parachains) to interoperate and share security under a central relay chain. Its shared security model means that all parachains connected to the Polkadot Relay Chain benefit from the pooled validator set, avoiding the need for each chain to bootstrap its own security from scratch. The Cross-Chain Message Passing (XCMP) protocol allows parachains to communicate and transfer assets trustlessly, solving the fragmentation problem where independent blockchains cannot natively exchange value or information. Parachain slots are auctioned using a candle-auction mechanism, and DOT holders vote on governance proposals, upgrades, and parachain onboarding through an on-chain governance framework. DOT serves as the staking and bonding token for network security, governance participation, and parachain slot auctions.
Whitepaper: https://polkadot.network/PolkaDotPaper.pdf
Is Dymension (DYM) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Dymension is a modular blockchain hub that enables permissionless deployment of app-specific rollups called "RollApps" using a shared sequencer set and the Dymension Hub as a settlement and messaging layer. Its architecture uses the Inter-Blockchain Communication (IBC) protocol for trustless communication between RollApps and the Hub, with the Hub providing dispute resolution, liquidity routing, and a shared security layer for all connected RollApps. Dymension solves the fragmented liquidity and bootstrapping costs associated with launching independent rollups — developers can deploy a RollApp with its own token and VM without building consensus infrastructure, while inheriting Dymension's validator security. The embedded AMM (Automated Market Maker) on the Hub enables native token bridging and liquidity for RollApp tokens. DYM is the native staking and governance token of the Hub, and is also used for gas fees and liquidity provision within the shared ecosystem.
Whitepaper: https://dymension.xyz/whitepaper
Is MultiversX (EGLD) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
MultiversX (formerly Elrond) is a high-throughput blockchain designed for internet-scale applications, featuring adaptive state sharding as its core scalability mechanism — dividing not just transaction processing but also network nodes and state storage into shards that scale dynamically with network load. Its consensus protocol, Secure Proof of Stake (SPoS), randomly selects validator committees within each shard using verifiable randomness, achieving fast finality while making sybil attacks computationally impractical. MultiversX achieves claimed throughput of 15,000+ TPS per shard, with full state sharding enabling near-linear scaling as more shards are added. It also introduced ESDT (Elrond Standard Digital Token) for native token issuance without smart contracts, reducing complexity and gas costs. EGLD is the native token used for transaction fees, staking, validator rewards, and governance within the MultiversX ecosystem.
Whitepaper: https://multiversx.com/whitepaper.pdf
Is Caldera (ERA) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Era is a modular Layer 1 blockchain that leverages zero-knowledge proof technology for scalable, privacy-preserving smart contract execution, with EVM compatibility enabling migration from existing Ethereum applications. Its ZK-native execution environment generates validity proofs for all state transitions, providing mathematically verifiable correctness guarantees rather than relying on fraud proofs or validator honesty. Era addresses the trust assumptions in current optimistic rollups and EVM chains — ZK proofs allow anyone to verify the correctness of any transaction without re-executing it, enabling fully trustless bridges and instant finality for cross-chain asset transfers. The network is designed to serve as a privacy-preserving settlement layer for applications that require confidential computation alongside verifiable correctness. ERA tokens are used for network security through staking, transaction fee payments, and governance of protocol upgrades.
Whitepaper: https://era.xyz/
Is Ethereum (ETH) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Ethereum is a decentralised, open-source blockchain platform conceived by Vitalik Buterin in 2013 and launched in 2015, extending Bitcoin's concept by enabling arbitrary programmable logic via smart contracts. It operates a global virtual machine (the EVM — Ethereum Virtual Machine) that executes bytecode deterministically across all nodes, enabling trustless self-executing agreements without intermediaries. Ethereum's core innovation is enabling developers to build decentralised applications (dApps) — from DeFi protocols to NFT marketplaces — on a shared, permissionless infrastructure. In September 2022 it transitioned from proof-of-work to proof-of-stake ("The Merge"), dramatically reducing energy consumption while introducing staking-based validator economics. ETH is the native asset used to pay "gas" fees for computation, used as collateral in DeFi, and earned by validators who secure the network by staking.
Whitepaper: https://ethereum.org/en/whitepaper/
Is Fogo (FOGO) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Fogo is a high-performance Layer 1 blockchain built on the Solana Virtual Machine (SVM) that targets sub-50ms transaction finality for real-time applications including trading, gaming, and financial infrastructure. Its consensus mechanism is optimised for geographic distribution of validators, reducing latency through intelligent routing that minimises the physical distance data must travel between nodes. Fogo solves the latency problem that prevents blockchains from competing with centralised exchange infrastructure — at sub-50ms finality, Fogo can support orderbook DEXes, live auctions, and real-time gaming economies that require near-instant settlement. The SVM compatibility means existing Solana ecosystem tools, wallets, and protocols work natively without modification. FOGO tokens secure the network through staking, pay for transaction fees, and govern protocol parameters including validator incentives and fee structures.
Whitepaper: https://fogo.io/
Is Hedera (HBAR) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Hedera Hashgraph is an enterprise-grade public distributed ledger that uses the hashgraph consensus algorithm — a patented DAG-based (directed acyclic graph) protocol — rather than a traditional blockchain structure, claiming superior throughput, fairness, and security properties. Its consensus mechanism, "gossip about gossip" combined with virtual voting, allows nodes to reach Byzantine agreement without sending explicit vote messages, achieving thousands of transactions per second with 3–5 second finality and very low fees. Hedera is governed by the Hedera Governing Council, a body of up to 39 global enterprises (including Google, IBM, and Boeing) who each run a node and vote on platform decisions, providing a unique corporate governance structure for a public ledger. It solves enterprise adoption barriers of public blockchains — lack of governance accountability, unpredictable fees, and energy consumption — while remaining permissionless for application developers. HBAR is the native cryptocurrency used to pay transaction fees, compensate network nodes, and for staking and governance participation.
Whitepaper: https://hedera.com/hh_whitepaper_v2.1-20200815.pdf
Is Hemi (HEMI) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Hemi is a modular blockchain network that simultaneously settles on both Bitcoin and Ethereum, inheriting security from both chains to create a "superchained" execution environment with stronger censorship resistance than either chain alone. Its Proof of Publication (PoP) consensus mechanism requires block producers to embed Hemi block hashes in both Bitcoin and Ethereum transactions, meaning attacking Hemi requires attacking both networks simultaneously — raising the cost of 51% attacks to unprecedented levels. Hemi provides an EVM-compatible execution environment with native Bitcoin programmability — Bitcoin UTXOs can be spent by Hemi smart contracts, enabling DeFi applications that directly control Bitcoin without bridges or wrapped assets. It solves the security trade-off developers currently face between Bitcoin's unmatched PoW security and Ethereum's programmability by combining both. The HEMI token is used for gas fees, PoP miner rewards, staking, and governance within the Hemi ecosystem.
Whitepaper: https://hemi.xyz/
Is Internet Computer (ICP) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
The Internet Computer is a blockchain network developed by the DFINITY Foundation, designed to extend the public internet into a decentralised global computing platform capable of hosting full-stack applications including frontends, backends, and data — entirely on-chain without traditional cloud infrastructure. It runs through a novel consensus protocol called Threshold Relay combined with a Chain Key cryptography system, allowing the network to operate at web speed and scale through a collection of independent subnet blockchains coordinated by a Network Nervous System (NNS). The core vision is replacing the current internet stack (AWS, Google Cloud, etc.) with a decentralised alternative where developers deploy software in "canisters" (a WebAssembly-based smart contract container), solving platform dependency and censorship risks inherent in centralised cloud hosting. Chain Key technology allows ICP to generate ECDSA signatures natively, enabling direct integration with Bitcoin and Ethereum without bridges. ICP tokens are used for governance votes via NNS neurons, converting into "cycles" (the compute fuel for canisters), and staking for governance rewards.
Whitepaper: https://internetcomputer.org/whitepaper.pdf
Is ICON (ICX) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
ICON is a South Korean blockchain network designed to hyperconnect independent blockchains and communities through its decentralised exchange protocol, with initial focus on interconnecting Korea's financial, medical, education, and government sectors. Its architecture creates a network of independent blockchains (called communities) connected via a central Nexus, with Community Representatives (C-Reps) relaying messages and value between communities and the ICON Republic. ICON uses a Delegated Proof of Contribution (DPoC) consensus where ICONists (token holders) elect P-Reps (Public Representatives) who validate blocks, and contribution scoring determines network rewards. It solves enterprise interoperability in highly regulated sectors by providing a compliant, auditable ledger layer while maintaining decentralised governance. ICX is the native token used for staking, governance voting, transaction fees, and cross-chain value exchange within the ICON network.
Whitepaper: https://icon.foundation/resources/file/ICON_Whitepaper_EN_V1.0.pdf
Is Lisk (LSK) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Lisk is a blockchain application platform that enables developers to build decentralised applications using JavaScript/TypeScript — the world's most popular programming language — on dedicated sidechains, rather than competing for resources on a shared smart contract chain. Its architecture uses a Delegated Proof of Stake (DPoS) consensus where 101 elected delegates forge blocks and secure the main chain, while application sidechains run their own consensus independently and interoperate via the Lisk messaging protocol. Lisk solves the developer accessibility problem in blockchain: by supporting JavaScript/TypeScript and providing an SDK, it targets the enormous existing pool of web developers who want to build blockchain applications without learning domain-specific languages. Each application runs on its own sidechain, meaning performance issues in one app do not affect others, providing resource isolation similar to microservices architecture. LSK is the native token used for transaction fees, staking in the DPoS delegate election system, and governance participation.
Whitepaper: https://lisk.com/whitepaper
Is Litecoin (LTC) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Litecoin is a peer-to-peer cryptocurrency created by Charlie Lee in 2011 as a "lite" version of Bitcoin, designed to offer faster transaction confirmations and a more accessible mining ecosystem. Technically it mirrors Bitcoin's UTXO model but uses the Scrypt hashing algorithm (designed to be memory-hard and ASIC-resistant at launch), targets a 2.5-minute block time (versus Bitcoin's 10 minutes), and has a total supply of 84 million coins. It solves Bitcoin's relatively slow confirmation times for everyday transactions — four times as many blocks are produced in the same period, making small payments more practical. Litecoin was also an early adopter of Segregated Witness (SegWit) and the Lightning Network, serving as a test network for Bitcoin upgrades. LTC is used for peer-to-peer payments, transaction fees, and as a store of value with a history of being one of the most liquid and widely-accepted altcoins.
Whitepaper: https://litecoin.org/
Is MANTRA (MANTRA) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
MANTRA Chain is a compliance-focused Layer 1 blockchain built on the Cosmos SDK, specifically designed for the tokenisation of real-world assets (RWAs) in regulated environments, enabling financial institutions, asset managers, and investors to issue and trade RWAs with embedded compliance controls. Its architecture provides on-chain KYC/AML modules, permissioned asset classes, and configurable compliance rules at the protocol level — rather than relying on smart contract-level access controls that can be bypassed — making it suitable for securities-grade tokenisation. MANTRA integrates with traditional finance infrastructure including custodians, fund administrators, and regulatory reporting systems, bridging TradFi compliance requirements with DeFi composability. It solves the lack of institutional-grade infrastructure for RWA tokenisation on existing DeFi chains, where compliance, identity, and asset governance cannot be reliably enforced. OM is the native token used for transaction fees, staking, governance, and as collateral within the MANTRA DeFi ecosystem.
Whitepaper: https://www.mantrachain.io/
Is NEAR Protocol (NEAR) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
NEAR Protocol is a developer-friendly Layer 1 blockchain built by NEAR Inc., designed with usability and scalability at its core, targeting mainstream application adoption. Its primary scaling mechanism is Nightshade sharding, which splits the network into parallel shards, each processing a subset of transactions and state, with all shards contributing to a single chain; this allows throughput to scale linearly with the number of shards. NEAR addresses the poor user experience of Web3 applications with human-readable account names (e.g., alice.near), zero-balance account creation for new users funded by developers, and a "progressive security" model that allows wallets that onboard users gradually. It also introduced a novel chunk-based block structure where each block contains one chunk per shard, enabling asynchronous cross-shard communication. NEAR tokens are used to pay transaction fees, to stake for validator eligibility, to pay for storage on the network, and for protocol governance.
Whitepaper: https://near.org/papers/the-official-near-white-paper/
Is NEO (NEO) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
NEO is a smart contract platform founded in China in 2014 (originally called Antshares), often described as "the Chinese Ethereum," designed to build a Smart Economy by digitising assets and enabling programmable contracts over them. It uses a delegated Byzantine Fault Tolerance (dBFT) consensus mechanism where NEO token holders vote for consensus nodes, enabling instant transaction finality with no forks — important for financial settlement applications. NEO supports multiple programming languages for smart contracts (C#, Python, Go, Java), making it more accessible to enterprise developers than EVM-specific languages. Its dual-token model separates governance (NEO) from network utility (GAS), avoiding the problem of governance token holders facing high economic friction. NEO holders passively generate GAS, which is used to pay for computation and storage on the network, while NEO itself is used for governance and consensus node voting.
Whitepaper: https://docs.neo.org/docs/en-us/basic/whitepaper.html
Is Harmony (ONE) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Harmony is a sharded proof-of-stake blockchain designed for decentralised applications requiring high throughput and low latency, using Ethereum-compatible sharding to scale both network processing and state storage. It implements Effective Proof of Stake (EPoS), a staking mechanism designed to reduce stake concentration by penalising validators whose stake exceeds a threshold, promoting decentralisation. Harmony's sharding approach divides the validator set and blockchain state across four shards, with cross-shard transactions handled asynchronously — this design targets 2-second transaction finality and thousands of transactions per second across the full network. The protocol uses Verifiable Random Functions (VRFs) and Distributed Randomness Generation (DRG) to shuffle validators across shards unpredictably, making targeted attacks on individual shards computationally infeasible. ONE is the native staking, fee, and governance token that also serves as the primary currency within Harmony's cross-chain DeFi ecosystem.
Whitepaper: https://harmony.one/whitepaper.pdf
Is Ontology (ONT) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Ontology is a high-performance public blockchain and distributed trust collaboration platform that provides decentralised identity (DID), verifiable credentials, and data exchange services for enterprise applications requiring trusted digital identity and data interoperability. Its dual-token architecture separates governance (ONT) from gas utility (ONG), allowing entities to stake ONT for network security and governance while ONG is generated passively and used for transactions — similar to NEO's model, with which Ontology has technical heritage. Ontology's ONT ID framework provides self-sovereign digital identities compliant with W3C DID standards, enabling enterprises to build KYC, credential verification, and data sharing solutions on a permissionless public infrastructure. It solves enterprise adoption barriers for blockchain identity: existing DID solutions lack enterprise integration, regulatory compliance capabilities, and the performance needed for production identity systems at scale. ONT is staked for governance and passive ONG generation, while ONG is used as the transactional fee currency for all on-chain operations.
Whitepaper: https://ont.io/static/wp/Ontology-technology-white-paper-EN.pdf
Is Plume (PLUME) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Plume Network is an EVM-compatible Layer 2 blockchain purpose-built for real-world asset (RWA) tokenisation, providing an end-to-end infrastructure stack for RWA issuers including compliance tooling, asset primitives, and a DeFi ecosystem native to tokenised assets. Its modular architecture includes Plume Nexus (a compliance and KYC layer), SkyLink (cross-chain RWA messaging), and a native asset marketplace — allowing issuers to tokenise assets like private credit, real estate, and commodities with embedded compliance and distribution. Plume addresses the fragmented tooling landscape for RWA projects, where teams currently must piece together separate solutions for legal wrapping, compliance, custody, and DeFi integration, increasing cost and time-to-market. By providing a dedicated chain with RWA-native tooling and liquidity, Plume aims to be the default settlement layer for the next trillion dollars of tokenised assets. PLUME is the native gas and governance token of the network, used for validator staking, fee payment, and ecosystem governance.
Whitepaper: https://plumenetwork.xyz/
Is QuarkChain (QKC) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
QuarkChain is a flexible, scalable blockchain architecture that uses a two-layer design — a root chain that confirms shard blocks, and multiple sharded chains below — to achieve high transaction throughput while maintaining strong security guarantees from the root chain's mining power. Its key design principle is that the root chain needs only 50%+ of total network hash rate to remain secure, while individual shards can use various consensus mechanisms including PoW and PoS, making it a heterogeneous sharding network. QuarkChain supports Ethereum-compatible execution environments on each shard, allowing existing Ethereum dApps and tooling to be deployed without modification. It addresses scalability limitations of single-chain architectures while preserving full nodes' ability to verify the entire state through an innovative booster node design. QKC is the utility token used for transaction fees across all shards and for incentivising miners and validators in both layers of the network.
Whitepaper: https://quarkchain.io/QUARKCHAIN%20White%20Paper%20V0.3.4.pdf
Is Qtum (QTUM) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Qtum is a blockchain platform that merges Bitcoin's UTXO transaction model with Ethereum's EVM smart contract engine, targeting enterprise adoption by combining Bitcoin's battle-tested security model with Ethereum's programmability. It achieves this through an Account Abstraction Layer (AAL) that bridges the UTXO and account-based models, allowing smart contracts to be triggered by standard Bitcoin-style transactions. Qtum uses a proof-of-stake consensus mechanism called Mutualized Proof of Stake (MPoS), which distributes block rewards across recent block validators to incentivise consistent staking. It solves the compatibility gap between Bitcoin security assumptions and Ethereum-style application development, allowing developers familiar with Solidity to deploy contracts on a UTXO-based chain. QTUM is used for transaction fees, staking rewards, and governance participation on the network.
Whitepaper: https://qtum.org/white-papers
Is Oasis (ROSE) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Oasis Network is a privacy-first, scalable Layer 1 blockchain that separates consensus from computation into a two-layer architecture — a Consensus Layer and a ParaTime Layer — where multiple parallel runtimes (ParaTimes) can run different types of computation, including confidential computing using Intel SGX Trusted Execution Environments. Its confidential computing capabilities allow smart contracts to process sensitive data without exposing inputs to validators or public observers, enabling "privacy-preserving DeFi" (or DeFi with private balances), confidential AI inference, and compliant data sharing. Oasis solves the fundamental public nature of most blockchains — all data in Ethereum contracts is publicly visible, making it unsuitable for personal health data, private trading strategies, or enterprise business logic. The separation of consensus and execution also enables horizontal scaling — new ParaTimes can be added to increase throughput without forking the base consensus layer. ROSE is used for transaction fees, staking to secure the Consensus Layer, and gas fees within confidential ParaTimes.
Whitepaper: https://docsend.com/view/aq86q2pckgjmwwei
Is Sei (SEI) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Sei is a purpose-built Layer 1 blockchain optimised specifically for trading applications, built on the Cosmos SDK with a native order book matching engine at the protocol level. Its core innovation is twin-turbo consensus, which combines optimistic block processing (processing blocks before full consensus) with parallel order execution, targeting sub-400ms finality — making it one of the fastest finalising chains available. Sei embeds a native decentralised order book, frequent batch auctioning (FBA) for front-running prevention, and market infrastructure primitives directly in the base layer, rather than leaving these to application-level smart contracts. This solves the inefficiencies of building high-frequency trading infrastructure on general-purpose chains where latency, MEV, and gas costs make professional trading impractical. SEI is used for gas fees, staking, governance, and as the native settlement currency within the Sei trading ecosystem.
Whitepaper: https://www.sei.io/whitepaper
Is Solana (SOL) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Solana is a high-performance Layer 1 blockchain designed by Anatoly Yakovenko, with a whitepaper published in 2017, focusing on achieving high throughput without sacrificing decentralisation through a novel consensus mechanism. Its key technical innovation is Proof of History (PoH), a cryptographic clock that orders events before they reach consensus, allowing validators to process transactions in parallel and dramatically reducing coordination overhead. Combined with its Tower BFT consensus, Turbine block propagation, and Sealevel parallel smart contract runtime, Solana targets 50,000+ transactions per second with sub-second finality. It solves the scalability trilemma limitations of earlier blockchains, enabling use cases like high-frequency trading, real-time gaming, and NFT minting that would be impractical on slower chains. SOL is the native token used to pay transaction fees, participate in staking to secure the network, and used as collateral across the Solana DeFi ecosystem.
Whitepaper: https://solana.com/solana-whitepaper.pdf
Is Somnia (SOMI) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Somnia is a high-throughput Layer 1 blockchain purpose-built for virtual worlds, metaverse applications, and real-time interactive experiences, achieving over 400,000 transactions per second through its IceDB storage engine and reactive smart contracts. Its architecture uses a reactive execution model where smart contracts can subscribe to and react to on-chain events in real time, enabling dynamic, event-driven virtual worlds where state changes propagate instantly across all connected experiences. Somnia solves the latency and throughput limitations that make existing blockchains unsuitable for persistent virtual worlds — games and metaverses require thousands of simultaneous state updates per second, far beyond what Ethereum or Solana can sustain for complex interactive applications. The network is EVM-compatible, allowing existing Ethereum developers to deploy applications while benefiting from dramatically higher performance. SOMI tokens are used for transaction fees, staking to secure the network, and governing protocol upgrades within the Somnia ecosystem.
Whitepaper: https://docs.somnia.network/
Is Stratis (STRAX) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Stratis is a blockchain-as-a-service (BaaS) platform designed for enterprise developers, allowing businesses to build, test, and deploy blockchain applications on private or public sidechains using C# and the .NET framework — the dominant enterprise development stack. Its architecture allows businesses to run dedicated sidechains pegged to the main Stratis chain without managing the complexity of operating a public blockchain, and smart contracts are executed within a sandboxed C# environment verified to prevent non-determinism. Stratis solves the adoption barrier for enterprise blockchain development by meeting developers where they already work — Microsoft's ecosystem — rather than requiring teams to learn Solidity or Rust. The platform supports full Turing-complete smart contracts on its sidechains while the main chain remains a simple, secure settlement layer. STRAX is the native token used for staking, transaction fees on the main chain, and as collateral for deploying sidechains.
Whitepaper: https://stratisplatform.com/files/Stratis_Whitepaper.pdf
Is Sui (SUI) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Sui is a Layer 1 blockchain developed by Mysten Labs, founded by former Meta engineers, with a novel object-centric data model that enables high-performance parallel transaction processing. Unlike account-based chains, Sui represents all on-chain assets as distinct, typed objects with explicit ownership, and uses the Move language with Sui-specific extensions that allow owned-object transactions to bypass consensus entirely — they are processed via Byzantine fault-tolerant broadcast, achieving sub-second finality. For shared-object transactions requiring ordering, Sui uses the Bullshark consensus protocol, a DAG-based BFT protocol with high throughput. The combination of single-owner fast path and shared-object consensus gives Sui unmatched flexibility — simple transfers are near-instant while complex DeFi interactions maintain safety. SUI is the native token used for gas fees, staking, validator incentives, and on-chain storage fund contributions.
Whitepaper: https://docs.sui.io/paper/sui.pdf
Is Celestia (TIA) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Celestia is a modular blockchain network that pioneered the concept of separating data availability from execution and consensus, allowing other blockchains (rollups) to use Celestia purely as a data availability layer rather than needing to reimplement their own. Its key technical innovation is Data Availability Sampling (DAS), where light nodes can verify that all block data has been published by randomly sampling small portions of each block — enabling extremely scalable data availability without requiring light nodes to download full blocks. By decoupling execution, settlement, and data availability into separate layers, Celestia allows rollups and sovereign chains to achieve much higher throughput than monolithic Layer 1 designs while inheriting Celestia's security for data availability. This solves the bootstrapping problem for new blockchains that previously had to build and secure their own data availability infrastructure from scratch. TIA is used to pay for blob (binary large object) data submissions to Celestia, for staking to secure the network, and for on-chain governance.
Whitepaper: https://celestia.org/celestia-whitepaper.pdf
Is Tezos (XTZ) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Tezos is a self-amending blockchain platform that can upgrade its own protocol without hard forks, addressing governance and upgrade challenges that have historically caused community splits in other blockchain projects. Its on-chain governance mechanism allows stakeholders (called bakers) to propose, vote on, and activate protocol upgrades through a structured amendment process — the chain has successfully upgraded itself dozens of times since launch in 2018. Tezos uses Liquid Proof-of-Stake (LPoS), where token holders can either bake (validate) directly or delegate their stake to bakers without transferring ownership of their tokens. Smart contracts are written in Michelson — a stack-based, formally verifiable language — enabling mathematical proofs of contract correctness, which is valuable for high-stakes financial applications. XTZ (tez) is used for transaction fees, staking/baking, governance voting, and collateral in the growing Tezos DeFi ecosystem.
Whitepaper: https://tezos.com/whitepaper.pdf
Is Zama (ZAMA) halal?
Verdict: Halal · Layer 1 · AAOIFI Std 17
Zama is building Fully Homomorphic Encryption (FHE) infrastructure for blockchain — enabling computations to be performed on encrypted data without ever decrypting it, which could fundamentally change on-chain privacy for smart contracts and DeFi. Its fhEVM (Fully Homomorphic Ethereum Virtual Machine) allows Ethereum smart contracts to operate on encrypted state, meaning smart contract logic can be executed and verified while preserving the confidentiality of inputs (e.g., private balances, bids, medical data). Zama solves the fundamental privacy problem of public blockchains — where all transaction data and smart contract state is visible to everyone — without sacrificing verifiability or composability. FHE is computationally intensive, and Zama's work on making it practical for blockchain computation (through hardware acceleration and protocol-level optimisation) is a key contribution to the field. The ZAMA token is expected to be used for network governance, incentivising FHE computation providers, and accessing the fhEVM infrastructure.
Whitepaper: https://www.zama.ai/
Layer 2 & Scaling 8
Is Celer Network (CELR) halal?
Verdict: Halal · Layer 2 & Scaling · AAOIFI Std 17
Celer Network is a Layer 2 scaling and cross-chain messaging platform designed to bring fast, low-cost off-chain transactions to multiple blockchains and enable seamless cross-chain dApp development through its inter-chain message (IM) framework. Its original cChannel payment channel network enabled off-chain micropayments with instant finality by routing payments through a liquidity network with cryptographic state proofs, secured by the cEconomy incentive system. The Inter-chain Message (cBridge/IM) framework allows smart contracts on different chains to communicate and trigger each other atomically, enabling cross-chain DeFi, NFT bridges, and governance systems without centralised intermediaries. Celer solves the fragmented multi-chain environment by providing developers a single API to build applications that work across Ethereum, BNB Chain, Polygon, Arbitrum, and dozens of other chains. CELR is the staking token for State Guardian Network (SGN) validators who verify and relay cross-chain messages, and is used for governance and fee payment in the ecosystem.
Whitepaper: https://www.celer.network/doc/CelerNetwork-Whitepaper.pdf
Is Optimism (OP) halal?
Verdict: Halal · Layer 2 & Scaling · AAOIFI Std 17
Optimism is an Ethereum Layer 2 scaling solution based on Optimistic Rollup technology, where transactions are batched and posted to Ethereum mainnet with the assumption they are valid ("optimistic"), and a fraud proof window allows challengers to dispute invalid state transitions. It uses a single-round interactive fraud proof system where any full node can submit a fraud proof during the challenge period, triggering an on-chain dispute resolution process; if unchallenged, transactions are finalised after approximately 7 days. Optimism is EVM-equivalent — it executes the same Ethereum opcodes in its execution environment, meaning existing Ethereum contracts and tooling work without modification. It solves Ethereum's gas cost and throughput limitations by compressing transaction data posted to L1, inheriting Ethereum's security while offering 10-100x lower fees and faster user experience. OP is the governance token of the Optimism Collective, used for voting on protocol upgrades, treasury allocations, and the broader Superchain development initiative.
Whitepaper: https://community.optimism.io/docs/protocol/
Is RIF (RIF) halal?
Verdict: Halal · Layer 2 & Scaling · AAOIFI Std 17
RIF (Rootstock Infrastructure Framework) is a suite of open, decentralised infrastructure protocols built on top of RSK — a Bitcoin-merge-mined sidechain that adds EVM-compatible smart contract functionality to Bitcoin's security umbrella. RSK enables Turing-complete smart contracts anchored to Bitcoin via merge mining (miners simultaneously mine Bitcoin and RSK), inheriting Bitcoin's hash rate security without additional energy cost. The RIF token powers a marketplace of decentralised infrastructure services on top of RSK, including RIF Name Service (decentralised DNS), RIF Storage, RIF Payments (Lightning-compatible payment channels), and RIF Communications (encrypted P2P messaging). It solves the problem of Bitcoin having no native smart contract or infrastructure service layer — RIF provides these capabilities while remaining within Bitcoin's security model. RIF tokens are used as the payment currency for all RIF infrastructure services and for governance of the RIF ecosystem.
Whitepaper: https://developers.rsk.co/rif/
Is Starknet (STRK) halal?
Verdict: Halal · Layer 2 & Scaling · AAOIFI Std 17
Starknet is a permissionless Layer 2 ZK-rollup on Ethereum developed by StarkWare, designed to scale Ethereum to mass adoption through validity proofs. It uses STARK (Scalable Transparent ARgument of Knowledge) cryptography — quantum-resistant zero-knowledge proofs that allow off-chain computation to be verified on-chain succinctly. Smart contracts on Starknet are written in Cairo, a domain-specific language built for STARK proof generation, enabling complex applications at a fraction of mainnet gas costs while inheriting Ethereum's security. The network finalises transactions on Ethereum L1 by posting a single succinct proof representing thousands of L2 transactions. STRK is the native token used for paying transaction fees, staking for sequencer/prover selection, and voting on protocol governance proposals.
Whitepaper: https://www.starknet.io/en/posts/news/starknet-whitepaper-overview
Is Stacks (STX) halal?
Verdict: Halal · Layer 2 & Scaling · AAOIFI Std 17
Stacks is a Layer 2 (or Layer 1.5) smart contract network that anchors to Bitcoin, enabling smart contracts and decentralised applications secured by Bitcoin's proof-of-work without modifying the Bitcoin protocol itself. Its consensus mechanism, Proof of Transfer (PoX), has miners bid Bitcoin (BTC) to win the right to append Stacks blocks, with that BTC transferred to STX holders who "stack" their tokens — creating a direct economic link between Stacks activity and Bitcoin. The Clarity smart contract language is non-Turing-complete by design, allowing all possible execution paths to be statically analysed before deployment, eliminating entire classes of smart contract vulnerabilities common on Ethereum. Stacks solves the problem of Bitcoin's programmability limitations by adding a full application layer that settles on Bitcoin without requiring a bridge or wrapped asset. STX is used to pay smart contract execution fees, earned by stackers as BTC yield, and used to deploy and interact with smart contracts on the network.
Whitepaper: https://stacks.co/stacks.pdf
Is Towns (TOWNS) halal?
Verdict: Halal · Layer 2 & Scaling · AAOIFI Std 17
Towns Protocol is a decentralised protocol for building unstoppable on-chain communities and group chat applications, where communities own their spaces as NFTs and governance, membership, and content moderation rules are enforced by smart contracts rather than centralised platform operators. Each Town is an on-chain entity with programmable membership, custom roles, and treasury management, enabling community-owned social spaces that cannot be arbitrarily deplatformed or censored by corporate operators. The protocol is built on top of Ethereum (and Ethereum L2s), using token-gated access and on-chain governance to give community members verifiable ownership over their digital gathering spaces. It solves the fundamental problem of current social platforms — that communities built on Twitter, Discord, or Telegram can be deleted, manipulated, or shut down by the platform at any time, with no recourse for members. TOWNS tokens are used for governance of the protocol, access rights within communities, and incentivising node operators who run the messaging infrastructure.
Whitepaper: https://towns.com/
Is ZKsync (ZK) halal?
Verdict: Halal · Layer 2 & Scaling · AAOIFI Std 17
ZKsync is an Ethereum Layer 2 scaling solution developed by Matter Labs, using ZK-Rollup technology where batches of transactions are proven valid using zero-knowledge proofs (SNARKs/STARKs) before being submitted to Ethereum, enabling immediate finality without the withdrawal delay of Optimistic Rollups. Its core innovation — the zkEVM — is a ZK-provable version of the Ethereum Virtual Machine, meaning Ethereum smart contracts can be deployed and executed on ZKsync and their correctness is proven cryptographically rather than assumed optimistically. ZKsync Era (ZKsync 2.0) supports native account abstraction, meaning all accounts are smart contract accounts by default, enabling features like social recovery, fee payment in any token, and batched transactions at the protocol level. It solves Ethereum's throughput and cost limitations while offering stronger security guarantees than Optimistic Rollups — withdrawals are near-instant since validity is mathematically proven. ZK is the governance and utility token of the ZKsync ecosystem, used for protocol governance and ecosystem incentives.
Whitepaper: https://zksync.io/zkevm
Is Boundless (ZKC) halal?
Verdict: Halal · Layer 2 & Scaling · AAOIFI Std 17
ZKCross is a zero-knowledge proof based cross-chain interoperability protocol that enables trustless asset transfers and message passing between blockchains using ZK validity proofs rather than multi-sig validators or optimistic fraud proofs. Its architecture generates ZK proofs of source-chain state transitions that are verified on destination chains, eliminating the need to trust a set of bridge validators who could be compromised or collude. ZKCross solves the fundamental security problem of blockchain bridges — the $2B+ in bridge hacks historically have all involved compromising validator sets or exploiting bugs in optimistic verification; ZK proofs are mathematically unforgeable. The protocol supports asset transfers, cross-chain contract calls, and state synchronisation for multi-chain applications. ZKC tokens are used for staking by proof generators who earn fees, governance of supported chain integrations, and as collateral in the cross-chain liquidity pools.
Whitepaper: https://zkcross.org/
Infrastructure 12
Is Espresso (ESP) halal?
Verdict: Halal · Infrastructure · AAOIFI Std 17
Espresso is a decentralised sequencing protocol for Ethereum rollups, designed to provide shared sequencing infrastructure that prevents censorship and enables cross-rollup atomic composability. Its core innovation is HotShot, a Byzantine fault-tolerant consensus protocol optimised for sub-second finality, which orders transactions across multiple participating rollups before they are executed. By decoupling sequencing from execution, Espresso allows individual rollups to outsource the politically sensitive job of transaction ordering to a neutral, decentralised network — addressing the problem that most rollups today rely on a single centralised sequencer. ESP is used to stake for validator participation in HotShot consensus, pay sequencing fees, and govern the protocol's evolution.
Whitepaper: https://docs.espressosys.com/network/
Is Filecoin (FIL) halal?
Verdict: Halal · Infrastructure · AAOIFI Std 17
Filecoin is a decentralised storage network where storage miners commit hard drive capacity to the network and are cryptographically proven to be storing clients' data over time, creating a verifiable, incentivised alternative to centralised cloud storage providers like Amazon S3. It uses two novel proof mechanisms: Proof of Replication (PoRep) proves that a miner has stored a unique physical copy of client data, and Proof of Spacetime (PoSt) proves that data is continuously stored over time — these cryptographic proofs replace the need to trust miners with actual verification. Filecoin solves the structural problems of centralised cloud storage: single points of failure, high costs for long-term storage, data surveillance, and arbitrary service termination — by creating a competitive open market for storage with cryptographically verifiable storage proofs. Built on IPFS (InterPlanetary File System), Filecoin provides the economic incentive layer that makes decentralised storage sustainable. FIL is used to pay storage providers for capacity, as collateral that miners must stake proportional to their committed storage, and as block rewards for miners.
Whitepaper: https://filecoin.io/filecoin.pdf
Is Golem (GLM) halal?
Verdict: Halal · Infrastructure · AAOIFI Std 17
Golem is a decentralised marketplace for computing power that allows anyone to share their idle CPU/GPU resources and anyone to buy those resources for computational tasks ranging from CGI rendering to machine learning and scientific simulation. Its peer-to-peer architecture uses a requestor-provider model where requestors define tasks in a standardised "demand" format, providers advertise their hardware capabilities, and the Golem daemon matches them and manages job execution within isolated containers or VMs. Golem solves the centralisation of cloud computing — AWS, Google, and Azure control virtually all commercial compute infrastructure — by enabling a permissionless compute market where anyone can participate as a provider or consumer, with payments settled in GLM tokens. The New Golem (Yagna) reimplemented the original vision with a more practical architecture focused on containerised workloads and API-accessible compute, making it easier for developers to integrate. GLM is the ERC-20 payment token used exclusively to pay for compute services on the Golem network.
Whitepaper: https://golem.network/golem_whitepaper.pdf
Is IOTA (IOTA) halal?
Verdict: Halal · Infrastructure · AAOIFI Std 17
IOTA is a distributed ledger designed for the Internet of Things (IoT), using a novel DAG (directed acyclic graph) data structure called the Tangle instead of a blockchain, where each transaction validates two previous transactions, eliminating miners and enabling feeless microtransactions. In the original Tangle architecture, network security and transaction confirmation speed increase with transaction volume — more devices transacting means faster confirmation — aligning incentives with IoT scale where billions of devices need to transact in tiny amounts. IOTA solves the fundamental incompatibility of traditional blockchain economics with IoT: transaction fees make micropayments between sensors, machines, and devices economically unviable, while the Tangle enables machine-to-machine payments with zero fees. The IOTA 2.0 (Coordicide) upgrade aims to remove the central Coordinator node that has historically been required for security, achieving full decentralisation. IOTA tokens are used as the feeless medium of exchange and data integrity layer for IoT device communication and micropayment settlement.
Whitepaper: https://files.iota.org/papers/18_Tangle_Whitepaper.pdf
Is Jasmy (JASMY) halal?
Verdict: Halal · Infrastructure · AAOIFI Std 17
Jasmy is a Japanese blockchain project designed to restore personal data sovereignty to individuals, creating a "Personal Data Locker" (PDL) system where users control their own data using distributed storage and access their data assets via blockchain-based permission keys. Founded by former Sony executives, Jasmy builds IoT data infrastructure where devices generate data that is encrypted and stored in the user's personal data locker, with cryptographic keys controlling who can access that data — including advertisers, researchers, or services who must compensate users for data access. Jasmy solves the data ownership problem of the digital economy — currently, platforms like Google and Facebook harvest user data without compensation — by creating verifiable data ownership records on the blockchain. The platform bridges IoT device data with decentralised identity, targeting use cases in smart home, connected car, and healthcare data monetisation. JASMY tokens are used to purchase data access rights from users, incentivise IoT device operators, and as the payment medium within the Jasmy data marketplace.
Whitepaper: https://www.jasmy.co.jp/
Is Chainlink (LINK) halal?
Verdict: Halal · Infrastructure · AAOIFI Std 17
Chainlink is a decentralised oracle network that provides tamper-resistant data feeds and off-chain computation services to smart contracts on any blockchain, solving the fundamental "oracle problem" — blockchains are isolated from real-world data and external systems. It operates a network of independent node operators who retrieve, aggregate, and deliver data to on-chain Price Feeds, VRF (verifiable random numbers), Automation, and Cross-Chain Interoperability Protocol (CCIP) services, with cryptoeconomic incentives and reputation systems ensuring data accuracy. Chainlink's data aggregation model takes inputs from many independent sources and uses deviation-triggered updates to keep on-chain data fresh, making price manipulation attacks economically prohibitive. It solves the single point of failure problem inherent in centralised oracles — any DeFi protocol relying on a single data source is vulnerable to manipulation or downtime. LINK is used to pay node operators for their services, stake in the Chainlink staking system for additional security guarantees, and in CCIP fee payments.
Whitepaper: https://research.chain.link/whitepaper-v2.pdf
Is Power Ledger (POWR) halal?
Verdict: Halal · Infrastructure · AAOIFI Std 17
Power Ledger is a blockchain-based energy trading platform that enables peer-to-peer renewable energy trading, allowing solar panel owners to sell excess electricity directly to neighbours without going through centralised utility companies. Its platform records energy production and consumption data from smart meters on a blockchain, automating settlement via smart contracts that track and transfer value proportional to energy flows, creating a transparent and auditable energy trading marketplace. Power Ledger solves the problem of renewable energy monetisation at the residential scale — excess solar generation is typically sold back to grid operators at low feed-in tariffs, while neighbours buy electricity at retail rates from those same utilities, representing economic inefficiency that P2P trading can eliminate. The platform targets utility-scale carbon credit trading, EV charging networks, and microgrids alongside residential P2P trading. POWR tokens are used to access the Power Ledger platform, pay transaction fees, and participate in the ecosystem's governance and staking rewards.
Whitepaper: https://www.powerledger.io/company/power-ledger-whitepaper
Is Render (RENDER) halal?
Verdict: Halal · Infrastructure · AAOIFI Std 17
Render Network is a decentralised GPU computing marketplace that connects creators needing GPU rendering power with idle GPU owners who monetise their hardware, enabling 3D rendering, AI inference, and other GPU-intensive workloads at lower cost than centralised cloud providers. It operates on a peer-to-peer job dispatch system where creators submit rendering jobs (via Octane Render and other supported software), which are distributed to GPU node operators, with completed renders cryptographically verified before payment is released. Render solves the prohibitive cost and limited availability of GPU rendering for independent artists, studios, and AI developers — centralised cloud GPU instances are expensive and often constrained during peak demand, while idle consumer and prosumer GPUs globally represent enormous untapped capacity. The network has evolved from pure rendering to supporting broader GPU compute including AI model training and inference via its RNDR→RENDER token migration and upgraded protocol. RENDER tokens are used to pay for compute jobs on the network and to reward GPU node operators who contribute hardware.
Whitepaper: https://renderfoundation.com/whitepaper
Is iExec (RLC) halal?
Verdict: Halal · Infrastructure · AAOIFI Std 17
iExec is a decentralised cloud computing platform focused on confidential computing — enabling on-demand access to CPU, GPU, and data resources with privacy guarantees through Intel SGX Trusted Execution Environments (TEEs). Its marketplace allows data owners to monetise datasets and algorithms in a privacy-preserving way, where computation runs on encrypted data inside a TEE, meaning the compute provider never sees the underlying data — enabling privacy-compliant AI and data science. iExec solves the conflict between data privacy regulations (GDPR) and the value of data processing — organisations that cannot share sensitive datasets (medical, financial, personal) can now contribute them to computation workflows without exposing the raw data. The platform also supports Web3-native application monetisation, where developers can sell access to APIs and datasets as "iExec resources" through the decentralised marketplace. RLC (Run on Lots of Computers) is the native ERC-20 token used to pay for computing tasks, data access, and app usage on the iExec marketplace.
Whitepaper: https://iex.ec/wp-content/uploads/pdf/iExec-WPv3.0-English.pdf
Is Storj (STORJ) halal?
Verdict: Halal · Infrastructure · AAOIFI Std 17
Storj is a decentralised cloud object storage platform that shards, encrypts, and distributes client files across a global network of storage node operators, providing an S3-compatible interface so developers can use it as a drop-in replacement for Amazon S3 at lower cost and with stronger privacy guarantees. Files are encrypted client-side before leaving the user's device, split into 80 pieces (with only 29 needed for reconstruction) using erasure coding, and distributed across independent nodes in different locations and jurisdictions, making data censorship or loss practically impossible. Storj solves centralised cloud storage's privacy weakness — S3 data is readable by Amazon and by governments via legal process — by ensuring no node ever sees unencrypted data and no single entity holds enough pieces to reconstruct files. The S3 compatibility layer means that existing applications can migrate to Storj without code changes, reducing adoption friction. STORJ tokens are used to pay node operators for storage and bandwidth, and by clients to pay for storage usage.
Whitepaper: https://storj.io/storjv3.pdf
Is VeChain (VET) halal?
Verdict: Halal · Infrastructure · AAOIFI Std 17
VeChain is an enterprise-focused blockchain platform designed for supply chain management and business process automation, using a dual-token model and proof-of-authority consensus to achieve the performance and cost predictability enterprises require. Its architecture centres on attaching real-world items to on-chain identifiers (via NFC chips, QR codes, or RFID) so that product provenance, authenticity, and logistics events can be recorded immutably — enabling anti-counterfeiting, cold chain monitoring, and ESG reporting. VeChain uses Proof of Authority (PoA) consensus where 101 authority masternodes (selected by the VeChain Foundation and enterprise partners) validate transactions, sacrificing full decentralisation for high throughput and predictable finality appropriate for enterprise SLA requirements. Its dual-token model separates governance (VET) from gas utility (VTHO), preventing gas price volatility from disrupting business transaction cost models — enterprises can predict costs precisely. VET is the governance and value-transfer token that passively generates VTHO (the energy used to pay transaction fees), allowing enterprises to fund operations without holding volatile gas assets.
Whitepaper: https://www.vechain.org/whitepaper/
Is Walrus (WAL) halal?
Verdict: Halal · Infrastructure · AAOIFI Std 17
Walrus is a decentralised storage protocol built by Mysten Labs (the team behind Sui) that uses a novel encoding scheme called RedStuff to store large binary data (blobs) across a network of storage nodes with high fault tolerance and efficient reconstruction. Its architecture splits blobs using systematic erasure coding with a 2D structure, enabling storage nodes to store only a small fraction of each blob while the full blob can be reconstructed from any sufficient subset of nodes — achieving high availability with minimal redundancy overhead compared to full replication. Walrus is designed specifically for blockchain-adjacent data storage needs — storing NFT media, dApp assets, and off-chain data pointers for smart contract applications — with on-chain proofs of storage availability recorded on the Sui blockchain. It solves the high cost and impracticality of storing large files on-chain, providing verifiable off-chain storage that maintains blockchain-grade integrity guarantees. WAL is the token used to pay for storing data on Walrus, to incentivise storage node operators, and for protocol governance.
Whitepaper: https://docs.walrus.site/
Payments 5
Is COTI (COTI) halal?
Verdict: Halal · Payments · AAOIFI Std 17
COTI (Currency of the Internet) is a DAG-based payment protocol designed to enable enterprises and merchants to issue their own payment tokens and process transactions at scale with near-zero fees, combining the security of blockchain with the speed of traditional payment networks. Its Trustchain algorithm uses a DAG structure where each transaction validates two previous transactions, with a trust score system that weights validation by participants' historical transaction behaviour — higher-trust participants receive faster confirmation and lower fees. COTI solves the gap between consumer-grade payment requirements (Visa-level speed and cost) and what traditional blockchain networks can deliver, targeting merchants, fintech companies, and central banks building digital currency infrastructure. The protocol also supports ADA stablecoin (Djed) and was selected by Cardano to power its algorithmic stablecoin, providing a production use case for COTI's payment infrastructure. COTI tokens are used to pay transaction fees on the network, staked in the COTI treasury to earn yield, and used for governance of protocol parameters.
Whitepaper: https://coti.io/files/COTI-whitepaper.pdf
Is Request (REQ) halal?
Verdict: Halal · Payments · AAOIFI Std 17
Request is a decentralised payment network built on Ethereum that allows users and businesses to request, send and track payments in any currency — fiat or crypto — without requiring a third-party intermediary. The protocol acts as a universal payment-request layer, with smart contracts handling invoicing, recurring payments, escrow and payment proofs. It uses a hybrid architecture: IPFS for off-chain encrypted invoice storage and Ethereum for settlement and immutable records, reducing the cost and complexity of cross-border invoicing and accounting. Major use cases include crypto invoicing platforms, payroll, and B2B settlement. REQ is used for protocol fees, governance, and to align incentives across the payment processing network.
Whitepaper: https://docs.request.network/
Is eCash (XEC) halal?
Verdict: Halal · Payments · AAOIFI Std 17
eCash is a continuation of the Bitcoin Cash (BCH) project (itself a Bitcoin fork), rebranded and relaunched with a new roadmap focused on becoming the best form of digital cash — combining fast, feeless transactions with optional on-chain privacy and a PoS staking layer for enhanced security. Its technical improvements over Bitcoin Cash include a move toward Avalanche post-consensus (not the Avalanche blockchain — the consensus algorithm) layered on top of Nakamoto consensus, providing near-instant transaction finality and protection against deep reorgs without changing Bitcoin's core PoW structure. eCash also redenominated its supply by a factor of 100 (1 BCH = 1,000,000 XEC) to enable sub-cent pricing and psychological accessibility for everyday transactions. It solves Bitcoin's limitations for day-to-day payments — high fees and slow confirmations — by retaining Bitcoin's UTXO security model while layering speed and privacy improvements. XEC is used as a medium of exchange for everyday transactions, with staking for Avalanche node operators providing supplementary security incentives.
Whitepaper: https://e.cash/
Is Stellar (XLM) halal?
Verdict: Halal · Payments · AAOIFI Std 17
Stellar is an open-source payment network designed to facilitate fast, low-cost international money transfers and connect financial institutions, payment systems, and individuals, with a particular focus on financial inclusion in developing economies. Its consensus mechanism, the Stellar Consensus Protocol (SCP), is a federated Byzantine agreement system where each node selects a "quorum slice" of trusted peers — rather than a global validator set — achieving consensus through overlapping trust relationships without proof-of-work or staking, enabling near-instant finality with low energy consumption. Stellar supports the issuance of custom tokens representing fiat currencies, commodities, or other assets, and its built-in decentralised exchange allows instant conversion between any two assets on the network using order book matching or automatic path-finding through intermediate assets. It solves the exclusion of the unbanked from global financial infrastructure — Stellar accounts require no KYC, no minimum balance (beyond a small reserve), and transactions cost fractions of a cent. XLM (Lumens) is the native asset used to pay transaction fees, maintain account reserves, and act as a bridge currency in multi-hop cross-asset payments.
Whitepaper: https://www.stellar.org/papers/stellar-consensus-protocol.pdf
Is XRP (XRP) halal?
Verdict: Halal · Payments · AAOIFI Std 17
XRP is the native digital asset of the XRP Ledger (XRPL), a decentralised, open-source blockchain designed by Ripple Labs for ultra-fast, low-cost global payment settlement, targeting the $150 trillion cross-border payments market dominated by correspondent banking. The XRPL uses the Ripple Protocol Consensus Algorithm (RPCA) — a federated Byzantine agreement where validators maintain "Unique Node Lists" (UNLs) of trusted validators, reaching consensus without proof-of-work mining — enabling 1,500 TPS, 3–5 second finality, and near-zero fees. XRP solves the inefficiency of SWIFT-based correspondent banking where international transfers take 2–5 days, involve multiple intermediary banks, and cost 5–10% in fees — XRP serves as a bridge currency enabling instant, direct conversion between fiat currencies. RippleNet uses XRP as a liquidity tool in its On-Demand Liquidity (ODL) product, eliminating the need for banks to pre-fund nostro accounts in foreign currencies. XRP tokens are used for payment settlement, bridge currency in cross-currency transactions, and as transaction fee "fuel" that is burned (not collected) on the XRPL.
Whitepaper: https://ripple.com/files/ripple_consensus_whitepaper.pdf
AI & Data 12
Is aixbt (AIXBT) halal?
Verdict: Halal · AI & Data · AAOIFI Std 17
aixbt is an AI-powered crypto market intelligence agent deployed natively on social media (primarily X/Twitter) that analyses on-chain data, social sentiment, and market signals to generate real-time trading insights, narrative tracking, and alpha for the crypto community. Rather than a traditional whitepaper-based protocol, aixbt represents a new category of AI-agent-as-product, where the value is delivered through an autonomous agent that continuously processes crypto information and surfaces actionable intelligence to its followers. It addresses the speed and scale problem of crypto market analysis — the market moves 24/7 across hundreds of chains, thousands of tokens, and dozens of social platforms simultaneously, making it impossible for humans to monitor everything without AI assistance. AIXBT is the governance and utility token that allows holders to access premium AI agent features, participate in the platform's revenue sharing, and vote on the development direction of the agent. The project is part of the broader AI agent crypto narrative where on-chain agents with their own economic incentives represent a new primitive in DeFi and information markets.
Whitepaper: https://aixbt.com/
Is Arkham (ARKM) halal?
Verdict: Halal · AI & Data · AAOIFI Std 17
Arkham Intelligence is an on-chain analytics platform that uses AI to deanonymise blockchain transactions — attributing wallet addresses to known entities (exchanges, funds, individuals, protocols) — creating a searchable intelligence layer on top of public blockchain data. Its "Ultra" engine uses machine learning to cluster related wallet addresses based on transaction patterns, entity-labelled datasets, and cross-chain activity, building a continuously updated database of entity-address mappings accessible via the Arkham platform. Arkham solves the investigative bottleneck in blockchain analysis: tracing funds manually across thousands of wallet hops is time-consuming, and most users and investigators lack the tools to follow complex money flows through DeFi and across chains. The platform created the "Intel Exchange" — a marketplace where analysts can submit intelligence (address labels, entity attributions) in exchange for ARKM token bounties posted by requestors. ARKM tokens are used to pay for intelligence submissions on the Intel Exchange, access premium platform features, and govern the Arkham ecosystem.
Whitepaper: https://arkhamintelligence.com/
Is APRO (AT) halal?
Verdict: Halal · AI & Data · AAOIFI Std 17
APRO Oracle is an AI-enhanced oracle protocol that provides verifiable, high-frequency data feeds for on-chain applications, with a focus on next-generation data types including AI model outputs, machine learning inferences, and non-financial real-world data beyond simple price feeds. Its architecture uses a network of specialised data nodes that collect, verify, and deliver heterogeneous data types using threshold signatures for aggregation authenticity, ensuring that data cannot be manipulated by any minority of oracle nodes. APRO addresses the limitations of first-generation oracle networks that are optimised primarily for financial price data but lack native support for complex AI/ML outputs, sensor data, and structured real-world datasets increasingly needed by advanced dApps. The protocol supports multiple verification mechanisms including ZK-proof based data attestation and TEE (Trusted Execution Environment) data sourcing, providing a higher assurance level than simple aggregation-based oracles. AT tokens are used to stake oracle nodes, pay for data subscription services, and govern the APRO protocol parameters.
Whitepaper: https://apro.com/
Is BIO Protocol (BIO) halal?
Verdict: Halal · AI & Data · AAOIFI Std 17
BIO Protocol is a decentralised science (DeSci) platform that enables communities to fund, govern, and commercialise biomedical research through tokenised science DAOs called "BioDAOs," pooling capital and expertise to accelerate drug discovery and biotech development outside traditional pharmaceutical funding structures. Each BioDAO focuses on a specific disease area (e.g., VitaDAO for longevity, HairDAO for hair loss) and issues its own tokens representing ownership and governance rights over the IP and research it funds — creating liquid markets for scientific progress. BIO Protocol solves the funding bottleneck in early-stage biomedical research, where promising research struggles to secure venture capital due to long development timelines and high failure rates, by distributing funding risk across global token communities motivated by shared health interests. The protocol provides shared infrastructure for BioDAOs including IP-NFT frameworks, governance tooling, and liquidity for science tokens. BIO tokens are used to govern the BIO Protocol meta-DAO, curate which BioDAOs receive support, and as liquidity in the shared ecosystem.
Whitepaper: https://bio.xyz/
Is ChainGPT (CGPT) halal?
Verdict: Halal · AI & Data · AAOIFI Std 17
ChainGPT is an AI infrastructure platform specifically designed for Web3 and crypto applications, providing AI-powered smart contract generation and auditing, blockchain analytics, NFT generation, trading assistants, and developer APIs, all accessible on-chain via its token model. Its AI models are trained specifically on blockchain and crypto data — smart contract code, DeFi protocols, tokenomics — rather than being general-purpose LLMs, making them more accurate for crypto-specific tasks like generating Solidity contracts or detecting vulnerabilities. ChainGPT solves the disconnect between general AI tools (ChatGPT, etc.) and the specialised needs of the Web3 ecosystem, where context-specific knowledge of Ethereum, DeFi, NFTs, and smart contracts is critical for reliable outputs. The platform also offers an AI launchpad and incubator for AI-focused Web3 projects, expanding its role from tooling to ecosystem development. CGPT tokens are used to access ChainGPT's AI services, staked to participate in governance, and burned as a deflationary mechanism based on platform usage.
Whitepaper: https://chainGPT.org/whitepaper
Is Fetch.ai (FET) halal?
Verdict: Halal · AI & Data · AAOIFI Std 17
Fetch.ai is an AI and automation platform that enables autonomous software agents to perform tasks on behalf of users — finding the best travel itineraries, optimising energy usage, trading on DeFi, or coordinating supply chain logistics — operating in a decentralised agent economy. Its multi-agent framework (uAgents) allows developers to deploy lightweight AI agents that communicate via a peer-to-peer network, perform off-chain computation, and settle transactions using FET tokens, creating an AI-driven economy that operates autonomously. Fetch.ai merged with SingularityNET and Ocean Protocol in 2024 to form the ASI Alliance, with FET becoming the unified ASI token — combining AI agent coordination, decentralised AI services marketplace, and data economy into a single ecosystem. It solves the fragmented, siloed nature of AI services on the internet by creating an open, permissionless marketplace where AI agents compete to provide services and users own their AI infrastructure. FET/ASI tokens are used to pay for agent services, stake in the network's validator system, and govern the ASI Alliance's shared protocol development.
Whitepaper: https://fetch.ai/docs
Is The Graph (GRT) halal?
Verdict: Halal · AI & Data · AAOIFI Std 17
The Graph is a decentralised indexing protocol for querying blockchain data — often described as "Google for blockchains" — allowing developers to query on-chain data efficiently using GraphQL without running their own full nodes or building custom indexing infrastructure. It works by allowing developers to define "subgraphs" — open APIs that describe how to index specific smart contract events and map them to queryable data structures — which are processed and served by a network of Indexers who stake GRT to participate. Curators signal which subgraphs are valuable by staking GRT on them, directing Indexer resources, while Delegators stake GRT with Indexers to share rewards without running infrastructure. The Graph solves the fundamental scalability problem of blockchain data access — querying raw blockchain data directly is slow and expensive; without an indexing layer, dApp frontends would be unusably slow. GRT is used by Indexers as stake (slashable for misbehaviour), by Curators to signal subgraph quality, by Delegators for passive rewards, and by consumers to pay for query fees.
Whitepaper: https://thegraph.com/docs/en/
Is Kaito (KAITO) halal?
Verdict: Halal · AI & Data · AAOIFI Std 17
Kaito is an AI-powered crypto intelligence platform that aggregates, indexes, and analyses information from across the crypto ecosystem — including Twitter/X, Telegram, Discord, research papers, and protocol documentation — providing institutional-grade research tools for traders, investors, and protocols. Its core product, Kaito Search, uses large language models fine-tuned on crypto discourse to enable natural-language queries across millions of documents, surfacing relevant signal from the noise of high-velocity crypto information environments. Kaito solves the information overload problem in crypto — the signal-to-noise ratio in crypto social media is extremely poor, and staying informed across hundreds of protocols, narratives, and market developments is a full-time job — by automating research and providing ranked, relevant intelligence. The platform also introduced "Yaps," a system that quantifies and rewards meaningful crypto social influence, creating a reputation layer for the crypto information economy. KAITO tokens are used for governance, accessing premium intelligence features, and rewarding top contributors in the Yaps influence system.
Whitepaper: https://kaito.ai/
Is Mira Network (MIRA) halal?
Verdict: Halal · AI & Data · AAOIFI Std 17
Mira Network is a decentralised inference verification network that enables trustless AI model inference on-chain, solving the problem of verifying that AI computations were performed correctly and using the claimed model — making AI outputs auditable and tamper-proof for smart contract applications. Its architecture uses a challenge-response system combined with cryptographic commitments where inference results can be verified by challenger nodes, with economic penalties (slashing) for nodes that provide incorrect results, creating game-theoretic incentives for honest computation. Mira addresses the fundamental trust gap in AI-integrated smart contracts: when a smart contract relies on an AI output (e.g., a trading signal, risk assessment, or content moderation decision), there is currently no way to verify the computation was performed correctly without re-running it. By providing on-chain verifiable inference, Mira enables AI-powered smart contracts that maintain blockchain-grade security guarantees. MIRA tokens are used to incentivise inference node operators, pay for verification services, and govern the protocol.
Whitepaper: https://mira.network/
Is Pyth Network (PYTH) halal?
Verdict: Halal · AI & Data · AAOIFI Std 17
Pyth Network is a first-party oracle protocol where data publishers — including major exchanges, trading firms, and market makers — publish their own proprietary price data directly on-chain, rather than using third-party node operators to source data from public APIs like Chainlink. Its pull-based oracle design means consumers request and receive price updates on-demand, with each price update accompanied by a confidence interval that reflects the spread of publisher submissions, giving consumers nuanced information about data quality. Pyth aggregates hundreds of first-party data sources per asset using a robust aggregate function that filters outliers and weights by publisher stake, making it extremely resistant to manipulation by any individual publisher. It solves the data quality problem of third-party oracles that derive data from public APIs — first-party publishers have direct market data from their own trading systems, providing lower latency and higher fidelity prices. PYTH is used for governance, staking to express publisher credibility, and for rewarding data publishers and network participants.
Whitepaper: https://pyth.network/whitepaper.pdf
Is Sapien (SAPIEN) halal?
Verdict: Halal · AI & Data · AAOIFI Std 17
Sapien is a Web3 data labelling and AI training data marketplace that compensates human contributors with tokens for providing high-quality training data, annotations, and human feedback needed to train and align AI models. Its platform addresses the AI training data supply chain problem — current AI training relies on unpaid or underpaid human labour through platforms like Amazon Mechanical Turk, while the resulting AI models are highly valuable to the companies that trained them. Sapien creates a verifiable, on-chain record of data provenance and contributor compensation, enabling AI companies to demonstrate ethical sourcing of training data — increasingly important for regulatory compliance and public trust. The platform supports diverse data labelling tasks from image annotation to RLHF (Reinforcement Learning from Human Feedback) tasks for LLM alignment. SPN tokens are the reward currency for data contributors, used to pay for verified training datasets, and for governance of the Sapien data marketplace.
Whitepaper: https://www.sapien.network/whitepaper
Is Sophon (SOPH) halal?
Verdict: Halal · AI & Data · AAOIFI Std 17
Sophon is a ZK-powered entertainment and consumer blockchain built using ZKsync's ZK Stack technology, designed to provide a seamless on-chain gaming, social, and entertainment experience with account abstraction and gasless transactions that abstract blockchain complexity from end users. Its architecture is purpose-built for high-volume, low-value consumer interactions — in-game asset trades, social interactions, content tipping — where the per-transaction overhead of general-purpose L1s makes most interactions uneconomical. Sophon solves the UX barrier that prevents mainstream entertainment applications from adopting blockchain: users of games and social apps should not need to manage wallets, gas fees, or private keys — Sophon's account abstraction and subsidised gas model handles all of this invisibly. The chain connects to Ethereum's security via ZK proofs and integrates with the broader ZKsync ecosystem for cross-chain composability. SOPH tokens are used for validator staking, governance, subsidising gas for entertainment applications, and as the native currency within the Sophon consumer ecosystem.
Whitepaper: https://sophon.xyz/
Privacy 1
Is Phala (PHA) halal?
Verdict: Halal · Privacy · AAOIFI Std 17
Phala Network is a confidential cloud computing protocol that uses Intel SGX TEEs (Trusted Execution Environments) to enable off-chain computation on sensitive data with blockchain-verifiable integrity guarantees, bridging traditional cloud computing with blockchain's trustless settlement. Its "Phat Contracts" (Physical Autonomous Tokens) are smart contracts that can run off-chain inside SGX enclaves, accessing the internet, performing complex computations, and interacting with external APIs — all while producing cryptographic attestations that the computation was performed correctly and the data was not exposed. Phala solves the dual limitations of both standard cloud computing (no verifiability) and on-chain computation (everything is public and expensive) by providing a third path: verifiable, private, and scalable off-chain computation. Phat Contracts enable use cases impossible on standard chains: private oracle feeds, confidential DeFi strategies, HTTPS requests from smart contracts, and privacy-preserving identity verification. PHA is used to pay for computation in Phala's worker network, staked by SGX workers to participate, and for protocol governance.
Whitepaper: https://phala.network/en/download/phala-paper.pdf
Real-World Assets 4
Is PAX Gold (PAXG) halal?
Verdict: Halal · Real-World Assets · AAOIFI Std 17
PAX Gold (PAXG) is a regulated, tokenised gold product issued by Paxos Trust Company, where each token represents one fine troy ounce of LBMA-standard gold bars held in Brink's vaults in London, combining gold's store-of-value properties with the programmability and transferability of an ERC-20 token. Paxos is a regulated trust company under the New York Department of Financial Services (NYDFS), making PAXG one of the most regulated and audited tokenised commodity products — monthly attestations confirm 1:1 backing of tokens to physical gold. PAXG solves the traditional barriers to gold ownership: high minimums, storage costs, insurance requirements, settlement delays, and geographic restrictions — any person with an Ethereum wallet can own fractional gold instantly. Unlike synthetic gold exposure (gold ETFs), PAXG holders have a direct legal claim to the underlying physical gold and can redeem tokens for allocated gold bars. PAXG tokens are used as a store of value, DeFi collateral, and as a hedge asset within the cryptocurrency ecosystem.
Whitepaper: https://paxos.com/paxgold/
Is Polymesh (POLYX) halal?
Verdict: Halal · Real-World Assets · AAOIFI Std 17
Polymesh is an institutional-grade blockchain built specifically for regulated securities tokenisation, with identity, compliance, settlement, and corporate actions built into the core protocol rather than added as smart contract layers. Its architecture embeds permissioned identity (every account must be linked to a verified identity via a Customer Due Diligence (CDD) provider), confidential asset transfers using zero-knowledge proofs, and a compliance rule engine that enforces jurisdiction-specific regulations (transfer restrictions, lockups, maximum holder counts) at the protocol level — not just in application logic. Polymesh solves the limitation of general-purpose blockchains for securities: compliance requirements (KYC/AML, transfer restrictions, investor accreditation) cannot be reliably enforced on permissionless chains where anyone can create accounts and transfer tokens. The protocol includes native corporate actions (dividends, splits, capital calls) that execute automatically on-chain for security token holders. POLYX is the native token used to pay transaction fees, stake for network security, and participate in protocol governance via the Polymesh Governance process.
Whitepaper: https://polymesh.network/polymesh-whitepaper.pdf
Is Sahara AI (SAHARA) halal?
Verdict: Halal · Real-World Assets · AAOIFI Std 17
Sahara AI is a decentralised AI collaboration network that enables individuals and organisations to contribute to, own, and monetise AI development — covering datasets, model training, knowledge bases, and AI agents — with provenance tracked on-chain and economic rewards distributed transparently. Its three core products are Knowledge Agent (AI-powered knowledge management), KnowledgeBase (decentralised data and model marketplace), and Atlas (AI app marketplace), together forming a complete ecosystem for decentralised AI development and deployment. Sahara solves the centralisation of AI value creation — currently, a handful of corporations (OpenAI, Google, Meta) capture nearly all the value from AI despite that value being generated by billions of human contributors' data and labour. By creating on-chain provenance for every AI contribution and automating royalty distribution, Sahara enables a fair-economy model for AI. SAHARA tokens are used to compensate AI contributors, pay for AI services, and govern the Sahara AI protocol.
Whitepaper: https://sahara.ai/
Is Bittensor (TAO) halal?
Verdict: Halal · Real-World Assets · AAOIFI Std 17
Bittensor is a decentralised machine learning network where AI models (running as "miners") compete to provide the best responses to queries, with their outputs evaluated by "validators" who score quality — and both miners and validators earn TAO token rewards proportional to their contribution, creating economic incentives for developing and running high-quality AI models. The network uses a novel Yuma Consensus mechanism where validator weight distributions determine miner rewards, and validators themselves are assessed by their agreement with other high-stake validators, creating a self-organising quality assurance system. Bittensor solves the closed, proprietary nature of AI development — the best models are locked behind corporate APIs, with no open economic incentives for distributed AI improvement — by creating a market where running better AI models directly generates income. The network is organised into specialised "subnets" (e.g., for text, images, financial predictions) each with their own incentive mechanisms and token emissions. TAO is the native token used to reward miners and validators, stake to participate in the network, and as the currency of the decentralised AI economy.
Whitepaper: https://bittensor.com/whitepaper
Gaming & Metaverse 6
Is Chromia (CHR) halal?
Verdict: Halal · Gaming & Metaverse · AAOIFI Std 17
Chromia is a relational blockchain platform that uses a relational database model (based on PostgreSQL) as its data layer, allowing developers to write decentralised applications in Rell — a purpose-built relational smart contract language — making blockchain development accessible to the vast majority of developers familiar with SQL and relational databases. Its architecture organises the network into "sidechains" built on a shared framework called the Chromia Core, with each dApp running its own sidechain that can scale independently while connecting to a main chain for cross-chain operations and security. Chromia solves the developer experience problem of blockchain: Solidity and other smart contract languages require entirely new programming paradigms, while Rell combines relational data modelling with blockchain-specific features in a familiar style. The platform is particularly suited to gaming and complex data-driven applications where relational data queries are common. CHR tokens are used to rent computing resources from Chromia providers, stake for network security, and pay for dApp deployment and operation.
Whitepaper: https://chromia.com/en/chromia-whitepaper/
Is Enjin (ENJ) halal?
Verdict: Halal · Gaming & Metaverse · AAOIFI Std 17
Enjin is a blockchain gaming platform that enables game developers to create, manage, and integrate NFT-based in-game items using the ERC-1155 multi-token standard (which Enjin co-created and pioneered). Its core innovation is "backing" NFTs with ENJ tokens — each Enjin NFT has a real ENJ value locked inside it, providing a floor price and allowing items to be melted back into ENJ tokens if the game they belong to shuts down, solving the problem of gaming NFTs becoming worthless when games die. The Enjin Platform provides a full-stack SDK for Unity, Godot, and other engines, abstracting the complexity of blockchain from game developers and allowing them to mint, distribute, and trade game items on-chain without smart contract expertise. It solves the problem of true digital item ownership in gaming — currently, in-game items are controlled by publishers who can delete, modify, or seize them — while providing real intrinsic value through ENJ backing. ENJ is used to create (mint) NFTs on the Enjin platform, locked as backing value inside minted items, and as the currency for the Enjin marketplace.
Whitepaper: https://enjin.io/software/platform
Is Flow (FLOW) halal?
Verdict: Halal · Gaming & Metaverse · AAOIFI Std 17
Flow is a Layer 1 blockchain designed specifically for mainstream consumer applications — games, NFTs, and entertainment — created by Dapper Labs, the team behind CryptoKitties and NBA Top Shot. Its key technical innovation is separating the four roles of a blockchain node (Consensus, Verification, Execution, Collection) into specialised nodes, allowing each to be optimised independently without sacrificing security or decentralisation — enabling much higher throughput than chains where every node performs all roles. Flow also uses a resource-oriented programming model via the Cadence language, where digital assets are first-class citizens stored directly in user accounts rather than as balances in a contract mapping — making it impossible for smart contracts to "lose" user assets through bugs. It solves the scalability and usability bottlenecks that caused CryptoKitties to congest Ethereum in 2017, providing a purpose-built chain for NFT-based consumer applications at scale. FLOW is the native token used to pay transaction fees, stake across the four node types, participate in governance, and as the primary currency for Flow NFT marketplaces.
Whitepaper: https://www.onflow.org/technical-paper
Is Movement (MOVE) halal?
Verdict: Halal · Gaming & Metaverse · AAOIFI Std 17
Movement is an EVM-compatible Layer 2 network for Ethereum that uses the Move Virtual Machine (MoveVM) under the hood, combining Ethereum's composable ecosystem with Move's security model — specifically Move's resource-oriented type system that prevents common smart contract vulnerabilities like reentrancy and unauthorised asset duplication. Its architecture allows Solidity developers to interact with Movement using standard Ethereum tooling, while contracts are compiled to and executed in the MoveVM, providing stronger safety guarantees than the EVM by design. Movement uses a parallel execution engine derived from Aptos and Sui's Block-STM technology, enabling high throughput while maintaining EVM interface compatibility. It solves the dilemma developers face between Ethereum's ecosystem and Move's superior safety model by providing both simultaneously. The MOVE token is used for gas fees, staking, governance, and as the primary economic unit of the Movement ecosystem.
Whitepaper: https://movementlabs.xyz/
Is NFPrompt (NFP) halal?
Verdict: Halal · Gaming & Metaverse · AAOIFI Std 17
NFPrompt is an AI-driven NFT creation platform where users generate unique digital art using text prompts and AI models, then mint and trade those creations as NFTs — combining the accessibility of generative AI with the ownership infrastructure of blockchain. Its platform provides multiple AI art generation models tuned for different artistic styles, with output quality and commercial licensing rights enforced via on-chain records that track AI model usage, creator attribution, and revenue sharing for model contributors. NFPrompt addresses the creative ownership gap in AI-generated art — when someone creates an image with Midjourney or DALL-E, the resulting image is not clearly owned by the creator and has no built-in monetisation mechanism — by combining generation and ownership into a single blockchain-native workflow. The platform also enables community competitions, AI model staking, and creator monetisation through royalties on secondary sales. NFP tokens are used to access premium AI models, stake for model governance, pay for NFT minting, and reward top creators.
Whitepaper: https://nfprompt.io/
Is Virtuals (VIRTUAL) halal?
Verdict: Halal · Gaming & Metaverse · AAOIFI Std 17
Virtuals Protocol is an AI agent infrastructure platform where users can create, co-own, and monetise AI agents (entertainment personalities, gaming NPCs, virtual companions) with each agent represented as a tokenised entity that its community owns collectively via the agent's own token. Each AI agent on Virtuals is an autonomous entity with persistent memory, multi-modal capabilities (voice, text, image), and an on-chain token that captures its economic value — as the agent becomes more popular and generates revenue, the token value reflects that. Virtuals solves the ownership problem for AI-powered entertainment: AI assistants and virtual personalities are currently entirely owned and controlled by corporations, with fans and contributors receiving no economic participation — Virtuals enables community ownership of AI characters. The protocol provides the technical scaffolding (agent SDKs, memory systems, multi-chain deployment) for building production AI agents with blockchain-native tokenomics. VIRTUAL is the native token used to create new AI agents (requiring VIRTUAL as genesis stake), govern the protocol, and earn from the platform's revenue sharing.
Whitepaper: https://docs.virtuals.io/
Web3 & Social 17
Is AdEx (ADX) halal?
Verdict: Halal · Web3 & Social · AAOIFI Std 17
AdEx is a decentralised digital advertising protocol that uses blockchain to create a transparent, fraud-resistant advertising marketplace where advertisers and publishers interact directly without intermediaries, with real-time payment settlement and on-chain verification of ad delivery. Its OUTPACE protocol (Off-chain Unidirectional Trustless PAyment ChannEls) enables real-time micropayments for ad impressions and clicks, settling efficiently on-chain while avoiding per-transaction fees for every individual ad view. AdEx solves the endemic problems of the digital advertising industry: click fraud (estimated at 20–40% of all ad spend), opaque supply chains with multiple middlemen taking margins, lack of publisher payment guarantees, and user privacy violations through pervasive tracking. The protocol includes identity verification and reputation scoring for publishers and advertisers, reducing fraud without requiring centralised validation by a third party. ADX tokens are used to stake for network validation, participate in governance, and pay for advertising services within the AdEx marketplace.
Whitepaper: https://www.adex.network/adex-whitepaper.pdf
Is Basic Attention (BAT) halal?
Verdict: Halal · Web3 & Social · AAOIFI Std 17
Basic Attention Token is the utility token of the Brave browser ecosystem, designed to reform digital advertising by directly compensating users for their attention when they choose to view privacy-respecting ads, while compensating content creators based on verified engagement. Brave browser blocks all third-party trackers and ads by default, replacing them with an optional private ads system where users receive BAT for opting in — with Brave's private machine learning (running locally on-device) matching relevant ads without ever sending browsing data to servers. BAT solves the fundamental dysfunction of the attention economy: users are tracked, their data is sold, and advertisers pay intermediaries rather than the people who actually view their ads, while content creators depend on opaque algorithmic revenue-sharing from Google and Facebook. The system also allows users to tip BAT directly to content creators and automatically split monthly BAT budgets across frequently visited websites. BAT is used to pay users for ad attention, tip content creators, purchase premium advertising campaigns, and as the currency of the Brave Rewards ecosystem.
Whitepaper: https://basicattentiontoken.org/BasicAttentionTokenWhitePaper-4.pdf
Is Civic (CVC) halal?
Verdict: Halal · Web3 & Social · AAOIFI Std 17
Civic is a decentralised identity verification platform that allows individuals to control their own identity data and share verified credential proofs with service providers without revealing underlying sensitive information, using blockchain as an immutable audit trail for identity attestations. Its protocol allows identity verifiers (validators) to attest to the authenticity of user identity documents, encoding those attestations on-chain, so that users can subsequently prove their identity to third parties by sharing a cryptographic proof rather than submitting raw ID documents repeatedly. Civic solves the identity verification inefficiency of the current system — users submit the same KYC documents to every service they use, creating massive redundancy, security risks from multiple copies of sensitive data, and poor user experience. The platform targets financial services, age verification, and healthcare where re-verification is common. CVC tokens are used to pay identity validators for attestation services, accessed by businesses paying for user verification, and staked by validators to participate in the attestation network.
Whitepaper: https://tokensale.civic.com/CivicTokenSaleWhitePaper.pdf
Is Decred (DCR) halal?
Verdict: Halal · Web3 & Social · AAOIFI Std 17
Decred is a self-governing cryptocurrency with a hybrid Proof-of-Work/Proof-of-Stake consensus mechanism, designed to give the actual users of the currency (stakers) meaningful control over protocol direction, preventing the developer/miner centralisation that has caused contentious hard forks in Bitcoin. Its consensus model requires both PoW miners (who produce blocks) and PoS voters (ticket holders selected randomly) to validate each block — PoS voters can reject miner blocks they disagree with, preventing miners from unilaterally changing the protocol. Decred's Politeia governance system allows DCR holders to submit and vote on binding proposals for protocol changes and treasury spending, funded by a 10% block reward allocation to a project treasury. This solves the governance crisis that led to Bitcoin/Bitcoin Cash and Ethereum/Ethereum Classic splits — Decred has a formal, transparent, stakeholder-controlled process for protocol evolution. DCR is used for PoS ticket purchasing (staking), governance voting via Politeia, and as a peer-to-peer cryptocurrency with privacy features via CoinShuffle++ mixing.
Whitepaper: https://docs.decred.org/research/hybrid-consensus/
Is Open Campus (EDU) halal?
Verdict: Halal · Web3 & Social · AAOIFI Std 17
Open Campus is a decentralised education protocol that enables educators, content creators, and institutions to tokenise educational content and credentials, creating an open ecosystem where knowledge ownership and academic achievement are recorded on-chain and monetisable by their creators. Its EduFi model allows publishers to mint "Publisher NFTs" representing ownership stakes in educational content, enabling direct monetisation and community investment in educational resources rather than relying on centralised platforms like Coursera or Udemy to capture all value. Open Campus solves education's value capture problem — teachers and content creators generate enormous value but platforms take the majority of revenue, and learners have no portable, verifiable credential that persists across institutions and employers. The protocol also enables credential verification, micro-credentialing, and community governance of educational standards. EDU tokens are used for governance of the Open Campus protocol, staking to participate in educational content curation, and as the currency for accessing and rewarding educational content within the ecosystem.
Whitepaper: https://docs.opencampus.xyz/
Is ENS (ENS) halal?
Verdict: Halal · Web3 & Social · AAOIFI Std 17
Ethereum Name Service (ENS) is a decentralised naming protocol built on Ethereum that maps human-readable names (e.g., alice.eth) to machine-readable identifiers including Ethereum addresses, content hashes, and metadata — analogous to DNS (Domain Name System) for the internet. It operates via a hierarchical set of smart contracts: a Registry that records ownership of all domains, Resolvers that translate names to addresses, and a Registrar that governs .eth name registrations through a second-price auction or direct registration model. ENS solves the usability problem of Ethereum addresses — 42-character hexadecimal strings are error-prone and non-memorable — making it practical to send funds to "alice.eth" rather than "0x742d35Cc6..." and enabling decentralised websites via IPFS content hashes. The protocol also supports reverse resolution, multi-coin address records, and custom subdomains, providing a comprehensive naming layer for all of Web3. ENS tokens are used for governance of the ENS DAO, which controls protocol upgrades, fee structures, and treasury allocation for ecosystem development.
Whitepaper: https://docs.ens.domains/
Is Hive (HIVE) halal?
Verdict: Halal · Web3 & Social · AAOIFI Std 17
Hive is a decentralised social media blockchain forked from Steem in 2020, where users earn HIVE tokens by creating, curating, and engaging with content — with the reward distribution determined by stake-weighted voting rather than algorithmic corporate curation. It uses a Delegated Proof of Stake (DPoS) consensus where token holders vote for "witnesses" (validators), and the same stake-weighted voting system governs content rewards — highly upvoted posts receive larger token distributions from the inflation reward pool. Hive solves the centralisation and censorship problems of Web2 social media: on traditional platforms, accounts can be banned, content can be deleted, and engagement is suppressed by proprietary algorithms optimising for ad revenue rather than user benefit — on Hive, content is immutable and distribution is permissionless. The ecosystem includes applications like Peakd, Ecency, and Splinterlands (a major blockchain game) built on top of the Hive chain. HIVE is used for governance voting, resource credits (replacing gas fees with a bandwidth/resource model), and powering up (Hive Power) to increase influence and rewards.
Whitepaper: https://hive.io/
Is Holo (HOT) halal?
Verdict: Halal · Web3 & Social · AAOIFI Std 17
Holo and Holochain represent a fundamentally different approach to decentralised applications — rather than a shared global blockchain where all nodes validate all transactions, Holochain uses agent-centric computing where each agent maintains their own cryptographically signed hash chain of actions, with DHT (Distributed Hash Table) used for shared data rather than global consensus. In Holochain's model, each dApp (hApp) defines its own validation rules, and peers validate the actions of agents they interact with rather than having a centralised consensus mechanism — this enables near-infinite scalability since validation work scales with relationship density, not total network size. Holo is the hosting marketplace built on Holochain where HOT (Holo Fuel) represents hosting credits that allow Holochain app users to access web-hosted versions of Holochain apps without running their own nodes. It solves the blockchain trilemma differently: by abandoning global consensus entirely, Holochain achieves scalability that blockchains fundamentally cannot, at the cost of different security assumptions. HOT tokens (later redeemable for Holo Fuel) are used to pay Holo hosts for serving Holochain applications to regular web users.
Whitepaper: https://holochain.org/
Is Initia (INIT) halal?
Verdict: Halal · Web3 & Social · AAOIFI Std 17
Initia is a network that builds an interwoven Layer 1 + multi-chain stack where the Initia L1 natively supports and connects a set of application-specific Layer 2s (called "Minitias"), with shared economic security, interoperability, and governance built into the base layer rather than bolted on as afterthoughts. Each Minitia can use different virtual machines (EVM, MoveVM, WasmVM) and has its own token, while the Initia L1 provides shared sequencing, liquidity routing, and dispute resolution — creating a coherent multi-chain ecosystem rather than isolated chains that happen to share a bridge. Initia solves the "bridge risk" and liquidity fragmentation that plagues multi-chain environments by making cross-chain communication a first-class primitive at the L1 level, with fast finality and native message passing that does not require external bridging infrastructure. Its "Enshrined Liquidity" mechanism ties Minitia token staking to the Initia L1 validator set, aligning economic incentives across the entire ecosystem. INIT tokens are used for L1 staking and security, Enshrined Liquidity pools, governance of the Initia ecosystem, and gas fees on the Initia L1.
Whitepaper: https://initia.xyz/
Is Livepeer (LPT) halal?
Verdict: Halal · Web3 & Social · AAOIFI Std 17
Livepeer is a decentralised live video transcoding network that dramatically reduces the cost of video encoding — the process of converting raw video files into multiple formats and resolutions for different devices — by distributing this computationally intensive work across a decentralised network of GPU-equipped nodes. Its Delegated Proof of Stake model has Orchestrators (nodes performing transcoding) bonded with LPT tokens staked by Delegators who allocate stake to reliable orchestrators, with both earning fees from video developers and token inflation rewards. Livepeer solves the economics of video transcoding: centralised cloud transcoding (AWS, Wowza) is extremely expensive and represents a barrier for high-volume streaming applications — Livepeer reduces this cost by 10–50x by utilising idle GPU capacity. The network provides an open API compatible with existing streaming infrastructure (RTMP input, HLS output), making it a drop-in cost reduction for video platforms. LPT is staked by orchestrators and delegators to participate in and secure the network, earn a share of transcoding fees, and vote on protocol governance upgrades.
Whitepaper: https://github.com/livepeer/wiki/blob/master/WHITEPAPER.md
Is MovieBloc (MBL) halal?
Verdict: Halal · Web3 & Social · AAOIFI Std 17
MovieBloc is a decentralised, open film and content distribution platform that connects filmmakers directly with audiences, removing distributors and aggregators that typically take 30–50% of revenue, while enabling transparent, smart contract-based royalty distribution to all rights holders. The platform uses blockchain to record content rights, track viewership, and automate revenue splits between directors, producers, actors, translators, and subtitlers — all of whom receive their contracted share automatically when content is viewed. MovieBloc solves the opacity and extraction of the traditional film distribution industry, where filmmakers often receive nothing beyond their initial production budget due to opaque "Hollywood accounting" and multiple layers of intermediaries taking cuts. Curators on the platform earn MBL tokens for discovering and recommending quality content, creating a decentralised editorial layer that replaces algorithmic recommendation engines. MBL tokens are used to pay for content access, reward curators, incentivise subtitle and translation contributors, and as the primary currency for all transactions on the MovieBloc platform.
Whitepaper: https://moviebloc.com/whitepaper
Is Sign Protocol (SIGN) halal?
Verdict: Halal · Web3 & Social · AAOIFI Std 17
Sign Protocol is a decentralised attestation infrastructure — an omnichain protocol for creating, verifying, and querying on-chain and off-chain attestations of any claim, from KYC verification to credential issuance to reputation scores — providing a universal layer for verifiable trust in Web3 and beyond. Its schema-based architecture allows any entity to define an attestation schema (e.g., "this address completed KYC with provider X" or "this NFT was authenticated by verifier Y"), create attestations conforming to that schema, and have those attestations queried and verified by any application across multiple blockchain networks via its omnichain design. Sign Protocol solves the fragmented trust problem in Web3: reputation, identity, and credential data is siloed across different protocols and chains with no standardised format or query interface, making it impossible to build portable trust profiles. The protocol is designed to replace centralised trust intermediaries (banks confirming identity, LinkedIn confirming employment) with cryptographically verifiable, chain-agnostic attestations. SIGN tokens are used to govern the protocol, pay for attestation indexing services, and incentivise schema creators and attestation providers.
Whitepaper: https://sign.global/
Is Theta Fuel (TFUEL) halal?
Verdict: Halal · Web3 & Social · AAOIFI Std 17
Theta Fuel (TFUEL) is the operational token of the Theta Network, functioning as the gas currency for all on-chain transactions and as the payment currency for video relay services within the Theta ecosystem. TFUEL is continuously generated by THETA stakers and earned by Edge Nodes that share their bandwidth and compute resources for video delivery — creating an economic flow where content consumption generates TFUEL that rewards resource contributors. Unlike THETA (which is fixed in governance supply and staking), TFUEL has a moderate inflation rate calibrated to ensure sufficient supply for network operations without excessive dilution. TFUEL solves the operational cost problem for decentralised streaming: bandwidth providers need continuous economic incentives to share resources, and TFUEL provides this without depleting the scarcer governance token. TFUEL is used to pay for all Theta smart contract executions, video relay fees, NFT minting on the Theta NFT marketplace, and as the micropayment currency for edge compute services.
Whitepaper: https://s3.us-east-2.amazonaws.com/assets.thetatoken.org/Theta-white-paper-latest.pdf
Is Theta Network (THETA) halal?
Verdict: Halal · Web3 & Social · AAOIFI Std 17
Theta Network is a decentralised video delivery and streaming blockchain where users who share their idle bandwidth and computing resources to relay video streams earn TFUEL tokens, reducing the infrastructure cost of CDN (Content Delivery Network) delivery for streaming platforms. Its multi-tier architecture has Validator Nodes (run by major companies including Google, Binance, and Samsung) handling consensus, backed by a network of Guardian Nodes and Edge Nodes (run by regular users) that collectively relay video content peer-to-peer rather than routing all traffic through centralised CDN servers. Theta solves the high cost and geographic limitations of centralised video delivery: CDN infrastructure costs are prohibitive for emerging markets, and last-mile delivery quality is poor in underserved regions — P2P video relay naturally routes content through nearby nodes. The protocol also supports NFT-based digital rights management for video content, live stream NFTs, and smart contract-based content monetisation. THETA is the governance and staking token, while TFUEL is earned and spent as the operational fuel for video delivery and on-chain transactions.
Whitepaper: https://s3.us-east-2.amazonaws.com/assets.thetatoken.org/Theta-white-paper-latest.pdf
Is Trust Wallet (TWT) halal?
Verdict: Halal · Web3 & Social · AAOIFI Std 17
Trust Wallet Token (TWT) is the utility and governance token of Trust Wallet — one of the most widely used non-custodial multi-chain cryptocurrency wallets, acquired by Binance in 2018 — used to incentivise users, govern the wallet's development, and pay for premium features. TWT holders can participate in the governance of the Trust Wallet ecosystem, voting on new blockchain integrations, feature prioritisation, and protocol-level changes through the Trust Wallet DAO. The token also provides discounts on DEX trades within the wallet, access to premium features, and enables staking for additional yield within the Trust Wallet DeFi interface. TWT solves the misalignment between wallet providers and their users: traditional wallets monetise through hidden fees on exchanges and selling user data, while TWT creates a model where users who contribute value and usage to the ecosystem receive a governance share and economic benefits. TWT is used for governance voting, paying for Trust Wallet collectible purchases in the NFT section, and accessing discounts and premium services within the wallet.
Whitepaper: https://trustwallet.com/
Is Vana (VANA) halal?
Verdict: Halal · Web3 & Social · AAOIFI Std 17
Vana is a decentralised data portability and ownership network that allows individuals to contribute personal data (from social media, health apps, financial services, etc.) into "Data DAOs" — collectively owned data pools that license access to AI companies and share revenue with contributors using cryptographic proofs of data contribution. Its architecture uses a proof-of-contribution system combined with TEE-based data validation to verify that contributed data is genuine, unique, and valuable — without the validator ever seeing the raw data — ensuring privacy while enabling verifiable economic rewards. Vana solves the fundamental problem of the data economy: individuals generate enormous economic value through their data but receive none of the financial benefit, while AI companies pay centralised aggregators rather than data originators. By pooling personal data into collectively governed DAOs with on-chain contribution records, Vana creates a new asset class — personal data portfolios — that can be monetised by individuals. VANA tokens are used for protocol governance, staking, rewarding data contributors, and as the settlement currency for data licensing transactions.
Whitepaper: https://docs.vana.org/
Is Vanar Chain (VANRY) halal?
Verdict: Halal · Web3 & Social · AAOIFI Std 17
Vanar Chain is an EVM-compatible Layer 1 blockchain purpose-built for entertainment, gaming, and AI applications, offering gasless transactions (fees sponsored by dApp developers), high throughput, and native AI integrations through its Virtua platform. Its architecture uses a delegated proof-of-stake mechanism with a curated validator set, providing fast block times and predictable performance for consumer applications that require consistent user experience without gas fee spikes. Vanar addresses the poor economics and UX of deploying entertainment and gaming applications on general-purpose chains — gas fees for in-game microtransactions are prohibitive, performance is variable, and ERC-20/ERC-721 limitations constrain game design. The chain integrates with the Virtua metaverse platform, providing a native blockchain backend for virtual worlds, digital collectibles, and entertainment experiences. VANRY is the native token used for staking, governance, fee payments by developers, and as the economic backbone of the Vanar entertainment ecosystem.
Whitepaper: https://www.vanarchain.com/
Interoperability 4
Is Cosmos (ATOM) halal?
Verdict: Halal · Interoperability · AAOIFI Std 17
Cosmos is the "Internet of Blockchains" — a decentralised network of independent, interoperable blockchains built with the Cosmos SDK and connected via the Inter-Blockchain Communication (IBC) protocol, designed by Jae Kwon and Ethan Buchman. Each blockchain in the Cosmos ecosystem (a "zone") runs its own consensus and handles its own state, while the Cosmos Hub acts as a central routing point for IBC packet relaying and shared security via Interchain Security. IBC enables trustless token transfers and arbitrary data messaging between any two IBC-compatible chains, solving the siloed nature of independent blockchains where assets cannot move without bridges. The Tendermint BFT consensus engine, used by most Cosmos chains, provides instant finality and supports 1,000–10,000 TPS, making it practical for financial applications. ATOM is the native staking and governance token of the Cosmos Hub, used to secure the network, vote on protocol upgrades, and participate in Interchain Security as a shared validator set.
Whitepaper: https://v1.cosmos.network/resources/whitepaper
Is Axelar (AXL) halal?
Verdict: Halal · Interoperability · AAOIFI Std 17
Axelar is a decentralised interoperability network that enables universal communication and value transfer between any two blockchain networks using a proof-of-stake validator network and a gateway smart contract system deployed on each connected chain. Its General Message Passing (GMP) protocol allows developers to call smart contracts on any supported chain from any other chain with a single function call, abstracting the complexity of cross-chain communication into a developer-friendly API. Axelar solves the "blockchain island" problem — most chains cannot natively communicate with each other, requiring centralised, insecure bridges that have been responsible for over $2B in hacks — by providing a decentralised, multi-party validation layer where any cross-chain message requires signatures from 2/3+ of its validator set. Its network connects 50+ chains including Ethereum, Cosmos chains, and EVM-compatible networks, making it one of the most widely connected interoperability protocols. AXL is staked by validators to secure cross-chain message validation, used for governance, and burned as fees for cross-chain transactions to create deflationary token economics.
Whitepaper: https://axelar.network/axelar_whitepaper.pdf
Is Quant (QNT) halal?
Verdict: Halal · Interoperability · AAOIFI Std 17
Quant and its Overledger network is an interoperability platform that enables the creation of multi-ledger applications (mDApps) that operate across multiple blockchains simultaneously, positioned as an enterprise-grade "blockchain of blockchains" with a focus on connecting financial institutions and enterprise systems. Its Overledger technology acts as an operating system layer above existing blockchains, allowing developers to write code once and deploy it across multiple ledgers without needing to understand the technical details of each underlying chain. Quant solves the enterprise interoperability problem: financial institutions want to use blockchain technology but need to connect with counterparties on different chains (some on R3 Corda, some on Ethereum, some on Hyperledger) — Overledger provides a single API for multi-ledger interactions. The network has partnerships with major financial institutions and is CBDC-ready, positioning it as infrastructure for the next generation of digital finance. QNT tokens are required to access Overledger services — application developers must stake or spend QNT to obtain Overledger licences, creating direct utility demand tied to platform usage.
Is LayerZero (ZRO) halal?
Verdict: Halal · Interoperability · AAOIFI Std 17
LayerZero is an omnichain interoperability protocol that provides the messaging infrastructure for transmitting arbitrary data between smart contracts on any supported blockchain, using an ultra-light node design that requires only a minimal on-chain footprint on each connected chain. Its security model separates the oracle (which delivers block headers) from the relayer (which delivers transaction proofs), such that compromising cross-chain message security requires colluding both systems simultaneously — a much higher security bar than bridges that rely on a single multi-sig or validator set. LayerZero solves fragmented cross-chain communication by providing a single, unified messaging standard that application developers can build on — enabling omnichain tokens (OFT standard), cross-chain governance, and multi-chain applications where state is synchronised across dozens of chains. The protocol powers many high-profile cross-chain applications including Stargate (cross-chain liquidity), and its messaging standard has become one of the most widely adopted cross-chain primitives. ZRO is the governance token of the LayerZero protocol, used for voting on protocol parameters, fee structures, and development direction.
Whitepaper: https://layerzero.network/pdf/LayerZero_Whitepaper_V2.pdf
DeFi & Exchange 1
Is IO.net (IO) halal?
Verdict: Halal · DeFi & Exchange · AAOIFI Std 17
IO Network is a decentralised GPU compute network aggregating underutilised GPUs from data centres, cryptocurrency miners, and consumer hardware into a unified marketplace for AI/ML training, inference, and rendering workloads, competing with centralised cloud GPU providers. Its architecture clusters geographically distributed GPUs into virtual "IO Clusters" that can be provisioned on-demand as if they were a single cloud GPU instance, using container orchestration and secure networking to abstract the distributed nature of the underlying hardware. IO.net solves the acute GPU shortage constraining AI development — cloud providers have multi-month waitlists for high-end GPUs — by unlocking stranded capacity from miners who have idle GPUs between profitable mining periods and data centres with underutilised racks. The network supports major ML frameworks (PyTorch, TensorFlow) and provides APIs compatible with existing AI workflows, reducing adoption friction. IO tokens are used to pay for compute on the network, reward GPU providers, and govern protocol parameters.
Whitepaper: https://io.net/
Grey Area — Use With Caution 26
Coins with mixed scholarly opinions or significant non-compliant exposure. SharifBot flags these for personal review.
Is My Neighbor Alice (ALICE) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
My Neighbor Alice is a multiplayer builder game (similar to Animal Crossing) where players own and develop virtual land parcels as NFTs, collect in-game assets, and participate in seasonal activities, with a governance and reward structure built around the ALICE token. Its game economy allows players to earn ALICE by completing in-game activities, competing in tournaments, and providing services to other players, creating a play-and-earn model integrated with a social-focused game design rather than grinding-heavy mechanics common in earlier GameFi projects. My Neighbor Alice solves the entertainment deficit in blockchain gaming — early NFT games (CryptoKitties, Axie Infinity) prioritised token economics over gameplay, producing poor player experiences — by building a polished casual game first with blockchain ownership as a feature, not the entire point. The game runs on Chromia's relational blockchain, which efficiently handles the complex relational data of a land management and social game. ALICE tokens are used for purchasing in-game assets and land, governance of the game's future development, staking for rewards, and as the primary economic currency within the game world.
Whitepaper: https://myneighboralice.com/whitepaper
Is Aster (ASTER) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
Aster is a modular DeFi infrastructure protocol that provides restaking and yield optimisation services, allowing users to stake assets across multiple protocols simultaneously and earn compounded yields through automated strategy execution. Its architecture separates capital allocation from yield strategy, enabling users to deposit once and have their assets automatically deployed across the highest-yielding opportunities in the DeFi ecosystem. Aster solves the fragmentation problem in DeFi yield optimisation — users must manually monitor and rebalance positions across dozens of protocols, missing opportunities and incurring high gas costs in the process. The protocol uses smart routing to minimise slippage and maximise yield for large capital deployments. ASTER tokens are used for governance of yield strategy parameters, staking to earn protocol revenue, and accessing premium yield optimisation features.
Whitepaper: https://aster.finance/
Is Big Time (BIGTIME) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
Big Time is a fast-paced, free-to-play multiplayer action RPG where players can earn rare cosmetic NFTs through gameplay without requiring any upfront crypto investment, aiming to bring mainstream gamers into Web3 through quality gameplay rather than financial incentives. Players explore procedurally generated dungeons across time and space, collecting "Space" (personal pocket dimension), cosmetics, and rare items that are player-owned NFTs tradeable on secondary markets. Big Time addresses the "pay-to-win" and "grind-to-earn" failures of early GameFi by adopting a "free-to-play, earn-to-own" model where the best gear is earned through skill and time, and blockchain simply provides verified ownership of cosmetic items. BIGTIME tokens can be earned in-game and used to craft cosmetic items, purchase premium cosmetics, and access exclusive game content, while the platform maintains that NFTs are purely cosmetic to avoid pay-to-win dynamics.
Whitepaper: https://bigtime.gg/
Is BNB (BNB) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
BNB is the native token of the BNB Chain ecosystem and the Binance exchange. Originally launched in 2017 as an Ethereum ERC-20 token, it migrated to its own Layer 1 chain (BNB Chain, formerly Binance Smart Chain). It uses a Proof of Staked Authority consensus mechanism with 21 active validators rotated daily, enabling EVM-compatible smart contracts with high throughput and low fees. BNB serves multiple functions: reduced trading fees on Binance, gas for transactions on BNB Smart Chain, participation in Binance Launchpad token sales, and supply reduction via a quarterly auto-burn mechanism. The chain hosts one of the largest DeFi and dApp ecosystems outside Ethereum, though parts of that ecosystem include interest-bearing or yield products that warrant individual review.
Whitepaper: https://www.bnbchain.org/en/bnb-chain-whitepaper.pdf
Is Chiliz (CHZ) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
Chiliz is a blockchain platform for the sports and entertainment industry, providing the infrastructure for issuing Fan Tokens — branded digital assets for sports clubs (Barcelona, PSG, Juventus, etc.) that give fans voting rights on minor club decisions, access to exclusive experiences, and a tradeable representation of fan loyalty. Built on the Chiliz blockchain (a permissioned sidechain with high throughput and low fees), Fan Tokens are created and traded on the Socios.com fan engagement platform, where fans use CHZ to purchase initial token allocations in Fan Token Offerings (FTOs). Chiliz solves the disconnection between global sports fans and their clubs: despite billions of fans worldwide, most have no direct relationship with or influence over their clubs, no reward for loyalty, and no ownership stake in the brand they love. The model turns fan passion into an economic and governance asset, with clubs benefiting from new revenue streams and fan data. CHZ is the "gateway" currency required to purchase all Fan Tokens on the Socios platform, creating a consistent utility demand as new tokens are launched for new sports partners.
Whitepaper: https://www.chiliz.com/
Is Dash (DASH) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
Dash is a self-governing, self-funding cryptocurrency designed for everyday digital payments, featuring optional privacy through CoinJoin mixing and a two-tier network architecture with masternodes providing enhanced services and governance. Its masternode network (requiring 1,000 DASH collateral) enables InstantSend (confirmed in under 2 seconds via masternode lock), PrivateSend (CoinJoin-based transaction mixing for enhanced privacy), and ChainLocks (preventing 51% attacks by masternode-signed block locks). Dash solves Bitcoin's limitations for practical payments: slow confirmation times, lack of optional privacy, and no sustainable development funding — Dash's treasury system allocates 10% of block rewards to a DAO where masternode operators vote on funding proposals, enabling continuous development. The masternode governance model also allows the Dash network to adapt and upgrade without contentious hard forks, as seen with the Dash Evolution (Platform) upgrade. DASH is used as a private, fast digital currency for payments, with masternodes requiring DASH collateral to provide premium network services.
Whitepaper: https://github.com/dashpay/dash/wiki/Whitepaper
Is DUSK (DUSK) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
Dusk Network is a Layer 1 blockchain built specifically for financial applications requiring privacy and regulatory compliance simultaneously — using zero-knowledge proofs (specifically Plonk ZK-SNARKs) to enable confidential transactions while maintaining the ability for users to selectively disclose transaction details for regulatory purposes. Its consensus mechanism, Succinct Attestation (SA), combines Proof of Stake with zkSNARK-based block production attestation, enabling validators to prove block validity without revealing their identity, providing both security and privacy at the consensus level. Dusk targets securities settlement and digital finance applications where transaction confidentiality is a legal requirement (trade secrecy, front-running prevention) but full anonymity is unacceptable to regulators — its ZK compliance features thread this needle. The XSC (Confidential Security Contract) standard on Dusk enables issuing and trading tokenised securities with programmable privacy and compliance built in. DUSK is the native token used for gas fees, staking and validator rewards, and accessing Dusk's confidential finance infrastructure.
Whitepaper: https://dusk.network/uploads/The_Dusk_Network_Whitepaper_v3_0.pdf
Is Enso (ENSO) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
Enso is a DeFi meta-aggregation and intent infrastructure protocol that allows users and developers to execute complex multi-step DeFi strategies (swaps, liquidity provision, yield farming, borrowing) through a single transaction by expressing their desired outcome as an "intent" rather than a specific execution path. Its routing engine automatically finds the optimal path across all major DeFi protocols to achieve the user's intent at the best possible price and lowest gas cost. Enso solves the complexity of DeFi composition — executing a strategy that involves swapping, providing liquidity, and staking across three protocols normally requires multiple transactions and deep protocol knowledge; Enso reduces this to a single intent call. The protocol is designed as infrastructure for other DeFi protocols and aggregators, providing a shared routing and execution layer. ENSO tokens govern the routing parameter optimisation, fee structures, and treasury allocation of the protocol.
Whitepaper: https://docs.enso.finance/
Is FLOKI (FLOKI) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
FLOKI is a utility token ecosystem inspired by Elon Musk's dog that evolved from a meme coin into a multi-product ecosystem including Valhalla (a metaverse/NFT game), FlokiFi (DeFi tools), FlokiPlaces (NFT marketplace), and the FLOKI University educational platform for crypto education in developing markets. Its strategy combines the viral marketing power of a meme coin brand with real utility development — using the community's large, passionate following to fund and drive adoption of actual use cases. FLOKI addresses the lack of utility in pure meme coins by systematically building products while maintaining the cultural and community momentum that meme coins generate organically. The Valhalla game is the flagship product — a blockchain-based tactical RPG with FLOKI integration for in-game assets and economy. FLOKI tokens are used for in-game purchases and mechanics in Valhalla, DeFi services in FlokiFi, governance of the FLOKI ecosystem, and as a fee token burned through platform usage.
Whitepaper: https://floki.com/whitepaper
Is GALA (GALA) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
Gala Games is a blockchain gaming ecosystem where game studios build titles that give players true ownership of in-game assets via NFTs, with GALA tokens serving as the cross-game currency that connects all titles in the Gala ecosystem. Its GalaChain is a purpose-built blockchain for games that handles high-throughput in-game microtransactions with low fees, separating game state management from expensive L1 settlement while anchoring asset ownership to Ethereum. Gala solves the "play-to-lose" economics of traditional gaming where players invest time and money but own nothing — all items can be confiscated, modified, or made worthless at the publisher's discretion. The Gala Nodes network decentralises content distribution and game state, rewarding node operators with GALA tokens for powering the ecosystem. GALA tokens are used as the primary currency across all Gala games for purchasing items and upgrades, rewarding node operators, and governing the Gala Games ecosystem through the GalaDAO.
Whitepaper: https://gala.games/
Is GMT (GMT) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
STEPN is a Web3 lifestyle app that combines a GPS-tracked fitness app with move-to-earn mechanics — users purchase NFT sneakers and earn GST (Green Satoshi Token) by walking, jogging, or running outdoors, with earnings depending on sneaker rarity and attributes. Its dual-token model separates in-game currency (GST, earned by activity) from governance (GMT, capped supply and earned through high-level gameplay), with GST used for sneaker repairs, upgrades, and minting new sneakers, creating a circular in-game economy. STEPN solves the lack of tangible real-world benefit in most GameFi projects by tying economic rewards directly to physical exercise, potentially creating sustainable wellness incentives that benefit users beyond financial gains. The sneaker NFT market and earning mechanics are designed so that active users can earn more than their operational costs, while the rarity and levelling systems create demand for premium sneakers. GMT tokens are used for governance of the STEPN DAO, accessing premium features, and participating in the high-level minting and staking mechanics of the STEPN ecosystem.
Whitepaper: https://whitepaper.stepn.com/
Is Illuvium (ILV) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
Illuvium is a blockchain-based open-world RPG and auto-battler built on Immutable X (an Ethereum L2 optimised for gaming), where players explore alien landscapes, capture monsters called Illuvials as NFTs, and battle other players in a guild-and-tournament structure with significant prize pools. Its dual-game structure — Illuvium: Overworld (exploration/capture) and Illuvium: Arena (auto-battler) — shares the same NFT ecosystem, allowing captured Illuvials to be used across both games and traded on external markets. Illuvium solves the tension between AAA game production quality and blockchain integration — it aims to be the first blockchain game that a mainstream gamer would choose to play on its own merits, rather than purely for financial rewards. The game uses Immutable X to enable zero-gas NFT minting and trading, making in-game asset ownership accessible without Ethereum gas costs. ILV tokens are used to govern the IlluviDAO, earn staking rewards from game revenue, and as prizes distributed through the player incentive vault from game fee revenue.
Whitepaper: https://docs.illuvium.io/
Is Solayer (LAYER) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
Solayer is a restaking protocol built natively on Solana, similar to EigenLayer on Ethereum, that allows SOL stakers to restake their already-staked SOL to extend Solana's economic security to decentralised applications and infrastructure services (called "actively validated services" or AVSs). By restaking, SOL validators can opt into securing additional protocols — bridges, oracles, data availability layers, rollups — without needing to lock up additional capital, earning additional yield while the restaked protocols inherit Solana's validator security. Solayer solves the fragmented security problem for the Solana ecosystem: new protocols must bootstrap their own validator sets from scratch, which is expensive and produces weaker security than leveraging the existing, large Solana validator set. The restaking mechanism also creates new yield opportunities for SOL stakers who opt in, improving capital efficiency. LAYER tokens are used for governance of the Solayer protocol, coordinating the restaking marketplace, and incentivising early participation in the restaking ecosystem.
Whitepaper: https://docs.solayer.org/
Is Treasure (MAGIC) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
Treasure is a decentralised gaming ecosystem on Arbitrum that connects games through a shared economy powered by MAGIC tokens, with a marketplace and lore system that creates narrative and economic connections between different game universes. Its architecture positions MAGIC as the "reserve currency" of the Treasure metaverse — games within the Treasure ecosystem require MAGIC for key actions, creating demand that links all games' economies together rather than having each game operate in isolation. Treasure solves the fragmentation problem of blockchain gaming — each game has its own token and economy, creating siloed experiences with no cross-game value transfer — by building a shared metaverse layer where games contribute to and draw from a common economic narrative. The Treasure Marketplace uses MAGIC as the sole trading currency for all listed NFTs, reinforcing its role as the ecosystem's reserve asset. MAGIC tokens are used as the primary currency for Treasure marketplace trades, in-game mechanics across Treasure ecosystem games, and governance of the Treasure DAO.
Whitepaper: https://docs.treasure.lol/
Is Decentraland (MANA) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
Decentraland is a decentralised virtual world owned entirely by its users, built on Ethereum, where players buy, sell, and develop LAND parcels (NFTs representing 16×16 metre virtual plots) with content governed by a DAO rather than a corporate entity. Its architecture stores LAND ownership on-chain but hosts content in a decentralised fashion — scene data is stored on IPFS/Catalyst nodes operated by community volunteers — ensuring no single company controls the world's content or can shut it down. Decentraland solves the centralisation problem of virtual worlds like Second Life or Fortnite, where the platform owner dictates rules, can modify or seize assets, and may shut down the service — in Decentraland, LAND ownership is permanent and enforced by Ethereum. The Decentraland DAO controls the contracts, marketplace, and protocol with MANA/LAND holders voting on decisions, from wearable approvals to major infrastructure changes. MANA is used to purchase LAND and in-world assets in the Decentraland marketplace, governance voting via wrapped MANA (WMANA), and as the in-world currency for experiences and services.
Whitepaper: https://decentraland.org/whitepaper.pdf
Is Meteora (MET) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
Metronome is a cross-chain DeFi protocol providing smart synthetic assets and yield optimisation, originally launched as one of the first autonomous, self-governing cryptocurrencies with a unique descending-price auction issuance mechanism. Its cross-chain architecture allows mToken synthetic assets to be ported between blockchains with cryptographic verification, enabling DeFi yield strategies that span multiple networks without bridge risk. Metronome solves the chain-specific capital lock-in problem — assets deployed for yield on one chain cannot easily participate in opportunities on other chains without incurring bridge risk and settlement delays. The protocol's governance is designed to be fully autonomous, with no admin keys or upgrade capability held by any team or foundation. MET tokens govern the protocol, stake for yield, and serve as the collateral currency for the synthetic asset minting system.
Whitepaper: https://metronome.io/
Is Mitosis (MITO) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
Mito is an automated DeFi vault and liquidity management protocol built on the Injective blockchain, providing institutional-grade concentrated liquidity management and yield optimisation strategies for the Injective DeFi ecosystem. Its vault architecture automatically manages liquidity positions across Injective's native orderbook DEX, rebalancing positions to maintain capital efficiency as market prices move. Mito solves the active management problem in concentrated liquidity — providing liquidity in a narrow price range generates high fees but requires frequent rebalancing as prices move, which retail users cannot effectively manage manually. The protocol's vaults are managed by algorithm or community-governed strategy parameters, making sophisticated liquidity strategies accessible to passive capital. MITO tokens govern vault strategy parameters, earn a share of vault performance fees, and provide access to premium vault strategies with higher yield potential.
Whitepaper: https://mito.fi/
Is Particle Network (PARTI) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
Particl is a privacy-preserving decentralised marketplace and smart contract platform built on its own blockchain with Bitcoin codebase heritage, enabling fully private, peer-to-peer commerce without intermediaries using blind signatures, Confidential Transactions, and RingCT privacy technology. Its marketplace allows buyers and sellers to transact directly using a two-party escrow system (Mutually Assured Destruction — MAD escrow) that incentivises honest behaviour without requiring a trusted third party to hold funds. Particl solves the privacy problem in e-commerce — traditional marketplaces and even most crypto marketplaces collect extensive data on buyers, sellers, and transaction histories, creating surveillance risks and enabling targeted censorship of legitimate commerce. The platform supports listings for physical goods, digital products, and services, with privacy guarantees that protect both parties. PART tokens are the sole currency of the Particl marketplace, staked to earn listing fees and govern the platform through cold staking governance.
Whitepaper: https://particl.io/whitepaper.pdf
Is The Sandbox (SAND) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
The Sandbox is a virtual world and game creation platform where users own voxel-based LAND parcels as NFTs and use intuitive creation tools (VoxEdit and Game Maker) to build experiences, games, and assets that can be monetised, without requiring coding skills. Its three-part ecosystem — VoxEdit (asset creation), Marketplace (asset trading), and Game Maker (experience building) — allows a creator economy where users design, own, and sell everything within the platform, from avatar equipment to fully playable game experiences hosted on their LAND. The Sandbox solves the monetisation and ownership problem for user-generated content: platforms like Roblox and Minecraft enable massive creativity but creators do not own their content and cannot freely monetise it — The Sandbox provides full creator ownership via NFTs. SAND is the native currency used for LAND and asset purchases, governance of the Sandbox DAO, and staking for rewards and governance multipliers, while LAND NFTs represent the scarce virtual real estate that drives the platform's economy.
Whitepaper: https://www.sandbox.game/en/whitepaper/
Is Tree (TREE) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
Tree (TREE) is a community-driven cryptocurrency project that links token activity to real-world environmental impact, directing a portion of treasury or transaction activity toward verified reforestation initiatives in partnership with environmental NGOs. The token operates on existing high-throughput blockchain infrastructure, and uses on-chain attestations to record the number of trees planted attributable to community contributions. The project's economic design blends a standard governance token model with periodic community votes that determine which reforestation partners receive funding. TREE holders typically participate in governance over project funding allocations and may receive verifiable claims to planted-tree certificates. As with any community-driven token, the long-term economic substance depends on continued partner activity, which warrants individual review.
Whitepaper: https://www.treedao.org/
Is Viction (VIC) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
Viction (formerly TomoChain) is an EVM-compatible Layer 1 blockchain using a Proof of Stake Voting (PoSV) consensus mechanism where token holders vote for 150 masternode candidates who validate blocks, achieving 2-second block times and zero gas fees for users through its gas sponsorship model. Its gasless transaction architecture allows dApp developers to sponsor gas fees on behalf of their users using VIC tokens held in the protocol, enabling consumer-grade UX where end users never need to hold or manage native tokens. Viction solves the onboarding friction of gas fees — requiring users to hold a specific chain's native token before they can use any application is a significant barrier that consumer applications cannot impose on mainstream audiences. The chain is particularly focused on NFTs, gaming, and social applications where a seamless user experience is critical for adoption. VIC tokens are staked by masternodes to participate in consensus, used by developers to sponsor user transactions, and govern the protocol's development direction.
Whitepaper: https://docs.viction.xyz/
Is WAX (WAXP) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
WAX (Worldwide Asset eXchange) is a purpose-built blockchain and protocol for creating, buying, selling, and trading virtual items, designed specifically for digital collectibles and in-game items at massive scale with zero transaction fees for users. Built as a delegated proof-of-stake chain (a fork of EOS/EOSIO), WAX achieves high throughput with fast block times, making it practical for digital collectibles marketplaces where thousands of trades occur per minute. WAX solves the UX and cost barriers of NFT trading on Ethereum — gas fees make trading low-value collectibles uneconomical, and the technical friction of wallets and gas management prevents mainstream collector adoption. The WAX Cloud Wallet allows users to sign in with email/social accounts and receive NFTs without ever managing private keys, providing a Web2-like experience over blockchain infrastructure. WAXP is the native staking and governance token, while WAXE (ERC-20) serves as a bridge to the Ethereum DeFi ecosystem.
Whitepaper: https://on.wax.io/wax-io/
Is Tether Gold (XAUT) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
Tether Gold (XAU₮) is a digital asset issued by Tether on multiple blockchains where each token represents ownership of one troy fine ounce of gold held on a specific gold bar in a Swiss vault, providing blockchain-based exposure to physical gold with full auditability of reserves. Each XAUT token is linked to a specific gold bar identified by its serial number, weight, and purity, with Tether publishing quarterly attestations from independent auditors confirming the physical gold holdings match outstanding token supply. XAUT solves the accessibility problem with physical gold investment — purchasing, storing, and transferring physical gold requires specialised brokers, secure vaulting, and costly shipping, while XAUT can be transferred globally in seconds with no minimum holding size beyond one ounce. The token provides gold exposure without the counterparty risk of gold ETFs or futures, as each token represents a direct claim on specific allocated physical gold. XAUT is classified grey area in SharifBot's Shariah review due to Islamic finance scholars' varying opinions on the structure of gold-backed tokens and whether token transfer constitutes permissible gold spot exchange.
Whitepaper: https://gold.tether.to/
Is Plasma (XPL) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
Plasma (XPL) is a Layer 1 blockchain optimised specifically for high-volume stablecoin payments, designed to make USD-pegged stablecoin transfers feel like sending a text message — fast, free for users at the transfer layer, and globally accessible. The chain offers zero-fee USDT transfers through a paymaster system, sub-second finality, and full EVM compatibility for smart contracts. It is anchored to Bitcoin through a periodic checkpoint mechanism that inherits Bitcoin's security for finalised state. Plasma's stack includes a confidential transactions layer for businesses requiring privacy on payroll or treasury flows while preserving compliance hooks. XPL is the native token used for gas on non-stablecoin transactions, staking for validator selection, and ecosystem incentives.
Whitepaper: https://docs.plasma.to/
Is Yield Guild Games (YGG) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
Yield Guild Games (YGG) is a decentralised autonomous organisation (DAO) that invests in NFTs used in play-to-earn blockchain games and lends those assets to players (called "Scholars") who cannot afford the upfront cost of expensive NFTs, splitting the in-game earnings between the guild, the asset owner, and the scholar. Initially built around Axie Infinity scholarships (where Axie NFTs were too expensive for developing-world players), YGG expanded to a multi-game guild infrastructure with sub-DAOs for specific game communities. YGG solves the capital access problem in GameFi — many blockchain games require significant NFT purchases to start earning, pricing out players in lower-income regions who nonetheless have the time and skill to generate returns for asset owners. The YGG treasury accumulates gaming NFT assets that appreciate alongside the ecosystems they belong to, creating a diversified gaming asset fund governed by YGG token holders. YGG tokens are used for governance of the DAO's treasury allocation, investment decisions, and distribution of scholarship revenues.
Whitepaper: https://yieldguild.io/YGG-whitepaper.pdf
Is Zcash (ZEC) halal?
Verdict: Grey Area · Grey Area — Use With Caution · AAOIFI Std 17
Zcash is a privacy-focused cryptocurrency that uses zk-SNARKs (zero-knowledge succinct non-interactive arguments of knowledge) to enable fully shielded transactions where the sender, recipient, and amount are all kept private, while still allowing the network to verify that no double-spending has occurred. Developed by the Electric Coin Company with significant academic cryptography input, Zcash was the first practical implementation of zk-SNARKs in a cryptocurrency, a landmark achievement in applied cryptography. Users can choose between transparent (t-address, Bitcoin-like) and shielded (z-address, fully private) transactions, giving flexibility for compliance requirements where needed. Zcash solves Bitcoin's privacy limitations — Bitcoin transactions are pseudonymous but fully traceable, enabling sophisticated chain analysis to de-anonymise users — by providing cryptographic privacy that is information-theoretically sound. ZEC is used as the currency for both transparent and private transactions, and as the native asset for Zcash's fee and miner reward system.
Whitepaper: https://whitepaper.io/document/57/zcash-whitepaper
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Read the whitepaper →Screened against AAOIFI Shariah Standard 17 based on the protocol's public properties. Ratings may change as the project evolves. Always do your own research and consult a qualified scholar for personal financial decisions. This is not investment advice.