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Is Compound (COMP) halal?

Prohibited

1 condition out of six fails.

Automatic classification based on CoinMarketCap tags and the contract scan, without investigation: the verdict covers only what this data establishes.

Open the evidence file

The asset

Project classified as “interest-bearing lending and borrowing” by CoinMarketCap tags Issuer: Token on Ethereum.

Compound (COMP) is a cryptocurrency and operates on the Ethereum platform. Compound has a current supply of 10,000,000 with 9,999,999.99995246 in circulation. The last known price of Compound is 23.09746522 USD and is down -5.83 over the last 24 hours. It is currently trading on 649 active market(s) with $20,846,048.82 traded over the last 24 hours. More information can be found at https://www.compound.xyz/.

Why this verdict

  1. Permissible purpose : not met. The project's main purpose falls under: interest-bearing lending and borrowing (CoinMarketCap tags). Rule A.8: an impermissible purpose fails the condition. Automatic classification based on the data, not investigated.
  2. No riba : to be verified or tolerated case. Not investigated: automatic pre-screening does not read this point.
  3. No gambling : to be verified or tolerated case. According to its tags, the project is based on bets or contracts on price differences.
  4. No excessive gharar : to be verified or tolerated case. Not investigated: automatic pre-screening does not read this point.
  5. Real ownership : to be verified or tolerated case. Not investigated: automatic pre-screening does not read this point.
  6. No fraud or manipulation : to be verified or tolerated case. Not investigated: automatic pre-screening does not read this point.

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