As has been done by other Crypto networks, cello aims to ease payment as easily as sending a text. CELO was classified as 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 aims to ease people to access crypto payments and transactions through smartphones. The network also allows developers to build Dapps on their network. | Passed |
| Financials | The token is not backed by any equity, thus there is no financial screening on this token. | Passed |
| Token | There are two tokens in this ecosystem: 1)CELO can be used for staking and as a governance token. 2cUSD acts as a stablecoin in CELO network. | Passed |
| Staking Method | Proof of stake method mechanism by this protocol complies with Shariah's rulings. Staking will be rewarded by transaction fees. | Passed |
Read the source document and verify project fundamentals.