Generally, the protocol provided by this project is a service for developers to build Dapps on the Ethereum network. All the services and features and this project is neutral including the token utility that can be staked and act as a governance token. We concluded that SKL is 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 | The project provides developers with a platform to build Dapps under the Ethereum network. | Passed |
| Financials | The token is not backed by any equity, thus there is no financial screening on this token. | Passed |
| Token | The token SKL act as a payment method for SKALE Chain subscription fees, staking as a validator, reward system for staking, and as a governance token. | Passed |
| Staking Method | Proof of stake method mechanism by this protocol complies with Shariah's rulings. Staking will be rewarded by transaction fees. | Passed |
Read the source document and verify project fundamentals.