MDEX is a coin exchange platform that offers many unique features to users. MDX token, their exchange token, operates as the main token in their system. Before this, MDEX listed as Shariah compliant token by SharLife. Currently, MDEX has include future, leverage features (non-Shariah activity) in their ecosystem. Thus, we classified MDEX as 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 | A platform that involves liquidity pool, swapping and trading digital asset. It also include future and leverage features in this ecosystem. So, we classified MDEX as Non-Shariah. | Failed |
| Financials | The token is not backed by any equity, thus there is no financial screening on this token. | Passed |
| Token | The token's utility is to be a medium of rewards system. | Passed |
| Staking Method | MDEX supports single token staking. It is permissible to have a reward from staking activity. | Passed |
Read the source document and verify project fundamentals.