Same as Swissborg, Voyager also uses the same concept of business. Their main product, Voyager Interest Program, lets users hold their assets in Voyager wallet to automatically earn interest at the end of each month. Surprisingly, there is another option for the account holder to opt out from gaining interest. However, the token itself is made from an unethical protocol of Voyager that is based on the riba' system. We stick to the Islamic legal maxim of "Harm must not be sustained". Anything that may cause harm must be abolished and we decided to classify Voyager 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 | Voyager lets users hold their digital asset in Voyager wallet to gain interest at the end of each month. The project is similar to the application of conventional banking that gives depositors interest based on usury or ribaâ system. | Failed |
| Financials | The token is not backed by any equity, thus there is no financial screening on this token. | Passed |
| Token | Voyager Token (VGX) is used to reward users within the Voyager ecosystem. The Voyager ecosystem provides rewards that are basically usury-based. So, it is impermissible. | Failed |
| Staking Method | Voyager does not mention the sources of staking reward. | Grey |
Read the source document and verify project fundamentals.