Kadena comprises of public chain protocol called Chainweb and a layer 2 protocol called Kuro. Overall, Kadena provides a platform for Dapps. This token is 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 | Kadena consists of a layer 1 public chain protocol called Chainweb and a layer 2 protocol called Kuro. Kuro is providing Kadena's private blockchain. | Passed |
| Financials | The token is not backed by any equity, thus there is no financial screening on this token. | Passed |
| Token | KDA is a digital currency that is used to pay for computing on the Kadena public chain. Similar to ETH on Ethereum. | Passed |
| Staking Method | Proof of work reward system is permissible as the reward system does not contain Riba, Gharar, or Maisir. The system required high-cost resources to gain reward and has risks to bear. We stick to Islamic Legal Maxim "Hardship begets facility". | Passed |
Read the source document and verify project fundamentals.