The project is an exchange platform that allows users to trade by order book. However, there are many prohibited features such as derivatives, leverage, and Non-Halal Token offered in the platform that trigger Shariah Issues, considering the platform benefit a lot through brokerage fees. In addition, the platform also offers other DeFi products such as Yield Farming that clearly offered a Non-Shariah product structure.
| 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 is an exchange platform that allows users to trade by order book. However, there are many prohibited features such as derivatives, leverage, and Non-Halal Token offered in the platform that trigger Shariah Issues, considering the platform benefit a lot through brokerage fees. In addition, the platform also offers other DeFi products such as Yield Farming. | 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 as a medium of exchange, interact with Defi and Staking. | Passed |
| Staking Method | The staking method mechanism by this protocol's purpose is to secure the network, staking IDEX will be rewarded by trade fees that may be derived from Haram portion. | Failed |
Read the source document and verify project fundamentals.