Focusing on interoperability, ICON attracts developers to build Dapps under its network. As for now, ICON itself doesn't seem to develop any Defi in the future. All features on their network are neutral as it just operates like other typical networks. The Coin itself, ICX acts as a store of value for payment or any transaction. We concluded that ICON 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 allows developers to build Dapps on their network that can interoperate with other networks such as Ethereum and Polkadot. The project seems neutral and does not offer any prohibited services. | 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 staking. | Passed |
| Staking Method | The staking method mechanism by this protocol complies with Shariah's rulings. Staking will be rewarded by transaction fees. | Passed |
Read the source document and verify project fundamentals.