Coin Study (For Muslims)
for last few days, I've been getting questions like,
. Is Perp Halal
. Are Meme coins Halal
. Is Prediction Market Halal
so I decided to share little details of Islamic Methodology we use at Coin Study to declare what is Halal and what is not.
If you don't know, Coin Study is a platform to check sharia compliance cryptocurrencies developed under the supervision of Mufti and PHD scholars.
" It is not launched Yet "
Methodology we use at Coin Study :
Methodology = Layer 1 Layer 2 screening
If passes through Layer 1 then, eligible for Layer 2 screening
Layer 1 Factors
1๏ธโฃ Interest based lending as core function
2๏ธโฃ Gambling / betting platform (prediction)
3๏ธโฃ Explicitly haram industry
4๏ธโฃ Guaranteed interest returns
5๏ธโฃ Synthetic interest products
If an asset falls in Layer 1, it is considered Haram and no need for scoring. If the asset passes Layer 1 screening then,
Layer 2 Factors
1๏ธโฃ Riba Exposure Risk
(e.g., indirect exposure through ecosystem)
2๏ธโฃ Gharar / Uncertainty
(contract ambiguity, unclear rights)
3๏ธโฃ Maysir / Speculation (Meme Coins)
(pump and dump mechanics, meme speculation)
4๏ธโฃ Underlying Business Activity
(whether the core activity is permissible)
5๏ธโฃ Utility / Real Use
(real economic value)
6๏ธโฃ Tokenomics Fairness
(fair supply distribution)
7๏ธโฃ Transparency & Governance
(open source, team disclosure, governance fairness)
Weightage :
Riba Exposure Risk = 25%
Gharar = 15%
Maysir = 15%
Business Activity = 15%
Utility = 10%
Tokenomics = 10%
Transparency = 10%
At the end you get the score if an asset is,
. Halal (80 - 100)
. Halal with concerns (60 - 79)
. Doubtful (40 - 59)
. Haram (below 40)
Hope you all support us when we launch.
The platform will be Free of Cost.
The image you see below is not 100% accurate, It gives you just an idea because, the platform is under development.