Coin98 ecosystem aims to integrate all-in-one decentralized finance (DeFi) solutions to the current blockchain ecosystem. The project combines all main smart contract networks into one platform to ease users' engagement with various DeFi activities. We have reviewed all the products offered by this platform, and the platform does not perform any lending/borrowing activities except they only integrate their platform with other DeFi protocols. We could not guarantee this protocol does not benefit from DeFi prohibited activities since all they do, is promote and encourage users to participate in lending/borrowing platforms. The staking method offered by this protocol is also against Shariah rulings, thus we concluded Coin98 is Non-Shariah.
| 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 | Coin98 ecosystem aims to integrate all-in-one decentralized finance (DeFi) solutions to the current blockchain ecosystem. The project combines all main smart contract networks into one platform to ease users' engagement with various DeFi activities. All the features offered in this platform are neutral. | 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 utilized in three blockchains: Ethereum, BSC, and Solana. It can be used as service fees, staking incentives, governance, and membership | Passed |
| Staking Method | The staking method mechanism on the coin98 chain does not comply with Shariah's rulings. | Failed |
Read the source document and verify project fundamentals.