Name : Build N Build Coin (BNB)
BNB Price : $566.573 -0.41%
Consensus Mechanism : Proof of Staked Authority
Volume: 1,628,079,722
Market Cap: 82,681,133,996
Shariah Judgement
For exchange tokens that act as the main token for trading purposes on the specific exchange, there are some tricky cases that need to be clarified. First, the token itself represents the ecosystem that gains profit from all transactions on the exchange may include the Non-Shariah project token. Second, the ecosystem benefits from derivatives contracts that clearly contrast with Shariah's ruling. We assume the same methodology of Stock Shariah screening that enacts the prohibition of stockbroking activities is applied in the same case. However, the usage of Exchange Token is commonly used to trade NFT or any other coin, thus we recommend not to hold Exchange Token for more than 30 days to avoid being involved in their ecosystem.
Shariah Status : Grey
Last Screening: Q3 2023
Legitimacy:
Project:
Token:
Reward:
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Legitimacy
People
Shariah Analysis
Project/Products | Use Case | Status |
---|---|---|
Savings | Profits generated from lending tokens for investment, akin to traditional savings accounts, may raise concerns related to Riba (interest) | Failed |
Locked Staking | Profit is derived from staking tokens on various blockchains or protocols, and the permissibility of staking depends on factors such as the specific token, the protocol being used, and the intended use case. | Passed |
Launchpool | Profit is earned by providing liquidity to newly launched projects, and the permissibility of staking is contingent upon the specific token, the underlying protocol, and the intended use case. | Passed |
BNB Vault | Profit is derived from a combination of non-interest and interest-bearing products, which may raise concerns related to Riba (interest). | Failed |
ETH 2.0 Staking | Profit is generated by delegating your tokens to an ETH 2.0 staking pool, which is utilized to secure the ETH Proof of Stake protocol. | Passed |
Liquid Swap | Profit is earned from providing liquidity to Binance Liquid Swap and other interest-bearing products, which may involve Riba (interest). | Failed |
Dual Investment | Offer a combination of Shariah-compliant and non-compliant instruments. | Failed |
DOT Slot Auction | The Polkadot (DOT) Slot Auction employs a modified candle auction mechanism to distribute parachain slots. Projects bid with staked DOT, and the ones with the most support can lease the slots to become Polkadot parachains. | Passed |
Use Case | Status |
---|---|
BNB is used to pay for transactions on the BNB Chain, similar to how gas is used on the Ethereum network. | Passed |
Holding BNB grants users the right to participate in the decentralized on-chain governance of the BNB Chain, allowing them to have a say in important decisions. | Passed |
The name change to "Build and Build" signifies advancements to benefit users, projects, and developers connected to the BNB Chain community. | Passed |
System | Status | Interpretation |
---|---|---|
Validator Rewards | Passed | All BSC validators in the current validator set will be rewarded with transaction fees in BNB. |
Delegator Rewards | Passed | Delegators of validators on BSC can receive a share of the validators' rewards in BNB. |
Legitimacy Analysis
Details | Status | |
---|---|---|
Whitepaper | The projects provide a comprehensive whitepaper and detailed documents that offer clear information about their objectives and functionalities. | Passed |
Project | The projects are led by individuals who are well-known in the industry. Additionally, they actively engage with the community through regular social media posts. | Passed |
People Analysis
Details | Status | |
---|---|---|
Team | The projects are backed by a team that is well-known and respected within the industry. | Passed |
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Overview
BNB Chain, a popular blockchain, focuses on providing essential infrastructure for public adoption in a community-first, open-source, permissionless, and decentralized ecosystem. It consists of two blockchains - BNB Beacon Chain for governance and staking, and BNB Smart Chain with smart contract functionality and compatibility with the Ethereum Virtual Machine, enabling the development of various decentralized applications while maintaining high throughput.
Whitepaper & Documents
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