BakeryToken platform offered various DeFi products and NFT marketplace for BSC blockchain users. The DeFi platform has always been a red flag in our analysis. The project offered a Yield Farming product that gains from impermissible sources. Other than that, we could say all products are in-line with Shariah's rulings. We classified the project as Non-Shariah Compliant.
| Category | Details | Status |
|---|---|---|
| Legitimacy | Not regulated by any countries or regulatory bodies. The project has a clear roadmap and genuine product on the blockchain, while the token/coin has a fundamental underlying value that allows it to be categorized as "Mal". | Passed |
| Project | The project contained a Yield Farming feature. We could not recognise the source of profit from this feature yet, as the documentation of this project is incomplete. By default, all Yield Farming is prohibited until it is proven to gain profit from permissible methods and sources. | Failed |
| Financials | The token is not backed by any equity, thus there is no financial screening on this token. | Passed |
| Token | The token can be used to interact in their ecosystem. Before, BAKE is used as a reward for liquidity providers. | Passed |
| Staking Method | No staking | Passed |
Read the source document and verify project fundamentals.