The project has a well-defined path and a legitimate blockchain product, and the CVC token has a fundamental underlying value that qualifies it as a "Mal" or asset. Civic uses blockchain technology for secure identity verification, and its CVC token is a digital utility token that can be acquired through staking. The staking protocol is permissible as it does not contain any non-Shariah compliant elements.
| Category | Details | Status |
|---|---|---|
| Legitimacy | Not regulated by any countries or regulatory bodies. The project has a well-defined path and a legitimate blockchain product, while the token/coin has a fundamental underlying value that qualifies it as a "Mal" or asset. | Passed |
| Project | Civic (CVC) is an Ethereum token used to power the Civic identity verification protocol. The platform makes use of blockchain security to give organizations and people a more effective and secure approach to protect identity. Their voting system will be using Civic Pass in DAO instead of the utility token (CVC). | Passed |
| Financials | The token is not backed by any equity, thus there is no financial screening on this token. | Passed |
| Token | The CVC token is a Civic ecosystem digital utility token that may be acquired as a staking incentive. | Passed |
| Staking Method | Contributing to the staking protocol will earn staking rewards for securing the network. The system and return does not contain any non-Shariah compliant elements, therefore it is permissible. | Passed |
Read the source document and verify project fundamentals.