Convex is a platform that boosts rewards for CRV stakers and liquidity providers. Convex is supporting the Curve platform, which involves lending activity. This platform has been reviewed and classified as non-Shariah-compliant. Open Discussion Invitation for Potential Collaboration
| 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 | Convex is a platform that boosts rewards for CRV stakers and liquidity providers. Convex provides liquidity to Curve, which relates to lending and borrowing activity. | Failed |
| Financials | The token is not backed by any equity, thus there is no financial screening on this token. | Passed |
| Token | CVX will be rewarded for CRV staker. CVX is the native token for Convex Finance. Convex Finance is being used directly for boosting rewards for CRV stakers. CVX is related to Curve platforms, which involve lending activities that contradict with Shariah's rulings. | Failed |
| Staking Method | Sources of staking reward involve lending fees which contradict with Shariah's rulings | Failed |
Read the source document and verify project fundamentals.