PancakeSwap is just the same as Uniswap, it is a platform that offers us to exchange digital assets or tokens, besides offering a liquidity pool platform that is permissible according to our analysis. However, one of their features of the PancakeSwap Lottery clearly opposes the Shariah ruling. The PancakeSwap Lottery is a gambling feature to gain prizes by purchasing ticket, a feature that is clearly prohibited to be involved in. Furthermore, the lottery ticket purchase is non-refundable, which makes it very clear that it is gambling. We marked this token as grey status as the main feature of PancakeSwap is for exchanging tokens and provide liquidity to the market.
| 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 enables anyone to gain profit from Trade, Earn, and Win product. Trade and Earn product are permissible which only involve swap and pool asset for exchange activity. However, Win product is involved in gambling activity which is prohibited. | 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 reward system. | Passed |
| Staking Method | In CAKE, staking reward sources can only be gained from liquidity pool for asset exchanges activity. It is permissible to have a reward from exchange activity fee. | Passed |
Read the source document and verify project fundamentals.