OMG Network is a decentralized network built on the Ethereum blockchain to facilitate fast, cheap, and secure transactions. The project offered a service to implement a smart contract for developers and builders on the Ethereum network.
| 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 Maal. | Passed |
| Project | The project provides services that comply with Shariah rulings. | Passed |
| Financials | The token is not backed by any equity or fiat currency, thus there is no financial screening on this token. | Passed |
| Token | The OMG token is used to pay gas fees on the network, while BOBA token could be used for governance tokens that are distributed among OMG holders. | Passed |
| Staking Method | Staking will be rewarded by transaction fees. The staking method by this protocol complies with Shariah rulings. | Passed |
Read the source document and verify project fundamentals.