AllianceBlock is a platform that aims to replace the traditional financial system with Decentralized finance. Whatâs interesting is that this protocol offered an interoperability feature. After reviewing all the products offered, we found that the upcoming product may be Non-Shariah compliant. Thus, we take a practical step to mark AllianceBlock as Grey.
| 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 a variety of DeFi products for users. There are 4 products currently offers by this project; Data Tunnel (Oracle), Liquidity Mining, Alliance Bridge (Chain-bridge), and DeFi Terminal. All these products are neutral, however, there are 2 upcoming products that may trigger a red flag on this project, which are Derivatives and the P2P lending platform. Thus we classified them as grey. | Grey |
| 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 for the services and assets on the platform and staking. | Passed |
| Staking Method | The staking method mechanism by this protocol does not comply with Shariah's rulings. Staking will be rewarded by an allocated treasury pool portion derived from network fees. | Passed |
Read the source document and verify project fundamentals.