Is Etherium staking Halal? While staking itself can be permissible, Ethereum is a Layer 1 blockchain with decentralized apps (dApps) that may host impermissible activities like derivative trading, gambling, lending, and borrowing. These activities could potentially result in validators benefiting from questionable transactions that are recorded on the blockchain. In light of this, we believe it is questionable to participate in staking for Ethereum until further analysis is conducted by modern scholars. The Bottom Line: Staking on Layer 1 blockchains may not be entirely pure due to the potential for impermissible transactions. But innovation is paving the way for a solution that aligns with Shariah. 🙌 From https://ethicalnode.com/is-ehtereum-staking-halal/
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Stablecoin DAI is not Shariah compliant: DAI is a decentralized, crypto-collateralized stablecoin developed by the MakerDAO organization. As a stablecoin, DAI is designed to maintain a stable value relative to a specific asset or a pool of assets. In DAI’s case, its value is pegged to the U.S. dollar, with each DAI token intended to be equivalent to one USD. Given that DAI is created exclusively as a result of a loan and is collateralised on a Riba-based debt, DAI is not Shariah compliant. DAI is created by depositing collateral into smart contracts on MakerDAO, and the platform then creates DAI. Borrowers of DAI must pay a stability fee, which is essentially an interest fee, or Riba. The DAI Savings Rate is also another Shariah non-compliant feature of MakerDAO. Source: https://shariyah.net/cryptocurrencies/dai/
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☪️ The world's first Islamic account was launched on the Bybit exchange 🟠 Spot trading is limited to 75 tokens that comply with Sharia. This product was developed in cooperation with the licensed consulting firm ZICO Shariah from Malaysia #halalcrypto #complysharia
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