WAX provides many features in its platform. The main product in this platform is a trading and minting platform for NFT or any digital assets. DeFi is another product offered by this project. Users can stake to secure the network and provide liquidity for their main token and Ethereum Interoperability token. The project does not offer any prohibited service instead all the product is neutral. The staking method by this protocol is neutral as there are no rewards involved instead users will benefit from free transactions. We conclude that WAX is 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 provides many features in its platform. The main product in this platform is a trading and minting platform for NFT or any digital assets. DeFi is another product offered by this project. Users can stake to secure the network and provide liquidity for their main token and Ethereum Interoperability token. The project does not offer any prohibited service instead all the product is neutral. | Passed |
| 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 and engage with WAX ecosystem. | Passed |
| Staking Method | Staking earns no rewards, instead staker will benefit from free transactions across the blockchain. | Passed |
Read the source document and verify project fundamentals.