Halal Bourse

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Is Cosmos Hub (ATOM) halal?

Permitted

The six conditions are met for a spot purchase.

Verdict calculated by Halal Bourse's published rules from an investigation of primary sources (project documentation, registers, decisions), conducted on 10/05/2026 and not reviewed by a human.

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The asset

Native currency of the Cosmos Hub (central chain of an ecosystem of blockchains connected by IBC, proof of stake, 180 active validators) Issuer: No single issuer: the Interchain Foundation (a Swiss foundation based in Zug, token sale in April 2017) funded the project, which is now developed by its subsidiary Cosmos Labs.

ATOM is staked with validators to secure the Hub, gives a vote on governance proposals and can be used to pay fees. The supply is not capped: the protocol creates new ATOM every block, between 7% and 10% per year according to the on-chain parameters, depending on the share of the supply that is staked.

Why this verdict

  1. Permissible purpose : met. ATOM is the currency of the Cosmos Hub: staking, governance voting, fees. No impermissible purpose appears in the sources read.
  2. No riba : met. Simple holding pays no interest derived from a loan: staking rewards are ATOM created by the protocol (block provisions) and fees, paid to staked ATOM. Unstaked ATOM are diluted by this creation.
  3. No gambling : met. The spot purchase is of a token recorded on the Hub's blockchain, transferable and traded on the market; it is not a contract on a price difference.
  4. No excessive gharar : met. The issuance rules are readable on the chain (inflation between 7% and 10%, target of 67% of the supply staked; inflation of 10% on October 5, 2026, or about 534.4 million ATOM). The Hub's documentation still shows 7% to 20% and is therefore out of date; a redesign of the economic model has been under study since late 2025, with no change to the parameters as of October 5, 2026.
  5. Real ownership : met. ATOM is held with a private key and transferred to a personal wallet; staking is a choice of the holder. Practical reservation: in September 2026, a software update adopted by the validators moved ATOM from an attacker's address to a multisig (see autres constats).
  6. No fraud or manipulation : met. In June 2023, the SEC's complaint against Binance classified ATOM among crypto-assets it considered securities; the SEC dismissed that complaint with final effect in May 2025, as a policy choice. On September 22, 2026, the validators halted the Hub for about 24 hours after an attack on another network (Neutron); the Hub itself was not attacked. The share of staked ATOM is concentrated in a few validators; holder concentration was not obtained. Halal Bourse rule (October 6, 2026): holder concentration, an accusation with no follow-up or an abandoned complaint are information, not established fraud; the condition is considered met as long as no sanction or deception toward buyers is found.
    • « the crypto asset securities further described below--with trading symbols SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI » SEC (complaint of June 5, 2023, 1:23-cv-01599) (2023-06-05)
    • « The agency’s motion to dismiss was granted with prejudice, meaning the SEC can’t refile the same claims. » CNBC (2025-05-29)
  7. Réseau ouvert et généraliste : met. un outil neutre

Tolerance case

T1. ATOM is the native currency of an open network: anyone can delegate their ATOM to a validator and vote, and the Hub has 180 active validators. Practical reservations: three validators hold more than a third of the staked ATOM (investigator's calculation from the Hub's API, see autres constats). No share of an issuer's impermissible income is published: the T2 case cannot be quantified.

Opinions found during the research

Opinions reported as read, named for what they are; they do not enter into the calculation of the verdict.

What could not be verified

Sources read

Other cryptos analyzed

General information: neither investment advice nor a fatwa. Verdict calculated by published rules, from financial statements read automatically and not reviewed by a human. Read the methodology