Shariahâs analysis of this network is quite similar to Ethereum and Solana. This project's staking method and token utility comply with Shariah's rulings. We classified IOST as Shariah compliant.
| Category | Details | Status |
|---|---|---|
| Legitimacy | Not regulated in any countries or regulatory bodies. This project has a clear roadmap and genuine product on the blockchain. The token/coin has a fundamental underlying value that allows it to be categorised as "Mal" | Passed |
| Project | IOST is a layer-1 blockchain that aims to compete with Ethereum. Developers can build Dapps under the IOST blockchain without any gas fees. The permissibility of the Dapps built under this network depends on the project itself. The IOST project is neutral. | 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 staked, traded, and engaged across the vast ecosystem of IOST Dapps, services, and marketplaces. | Passed |
| Staking Method | The staking method mechanism from this protocol complies with Shariah's rulings. Staking will be rewarded by election rewards, block-producing rewards, and contribution rewards. | Passed |
Read the source document and verify project fundamentals.