Ribbon finance is a platform that uses financial instruments like options, futures, and fixed income to offer interest-earning crypto structured products to its users. This platform had been classified as non-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 | Ribbon Finance offers a high yield product on Ethereum which generates yield through decentralized finance derivatives such as options, futures and fixed income. Ribbon finance is involved in derivatives activities which contradict with Shariah rulings. | Failed |
| Financials | The token is not backed by any equity, thus there is no financial screening on this token. | Passed |
| Token | RBN token acts as governance token that can be staked. | Passed |
| Staking Method | No staking. | Passed |
Read the source document and verify project fundamentals.