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Is Jupiter (JUP) halal?

Prohibited

1 condition out of six fails.

Verdict calculated by Halal Bourse's published rules from an investigation of primary sources (project documentation, registers, decisions), conducted on 10/07/2026 and not reviewed by a human.

Open the evidence file

The asset

Governance (DAO) token of Jupiter, a Solana swap aggregator that also runs a perpetuals platform, a lending market, prediction markets and other products (Solana SPL token) Issuer: No single issuing entity identified: the MiCA white paper filed in Germany (Crypto Risk Metrics GmbH, January 22, 2026) states that the token does not appear to be issued by a company or foundation in the traditional sense and names the co-founders “Meow” and “Ben Chow” as pseudonyms; the documentation cites Foundation and Labs entities without naming them, and a non-profit trust (Litterbox Trust).

JUP is used to vote in Jupiter's DAO (after staking) and entitles holders to active staking rewards (ASR). It carries no direct share of fees: 50% of Jupiter's onchain revenue is used by the Litterbox Trust to buy back JUP (about 134 million JUP burned according to the documentation). Supply: 10 billion at the start, 3 billion burned in January 2025, 6.86 billion in circulation and in reserve as of October 7, 2026; CoinMarketCap on October 7, 2026: circulating supply 3.32 billion, rank 63. SPL contract: JUPyiwrYJFskUPiHa7hkeR8VUtAeFoSYbKedZNsDvCN (mint and freeze authorities removed).

Why this verdict

  1. Permissible purpose : met. JUP has an effective governance function: after staking, it lets holders vote on Jupiter DAO proposals and entitles them to active staking rewards. Its purpose is neither gambling nor lending, but the governance of a set of products that includes, among others, perpetuals, a lending market and prediction markets (see the tolerance and autres_constats).
  2. No riba : met. Holding JUP pays nothing in itself: the documentation states that it carries no direct share of fees. Active staking rewards (distributed each quarter to stakers who vote) are a separate product. The Litterbox Trust's buybacks are funded by 50% of Jupiter's onchain revenue, about half of which comes from perpetuals and a small share from lending (see the tolerance): a funding link is flagged, with no yield paid to the holder.
  3. No gambling : met. A spot purchase covers a transferable SPL token, with no minting or freezing possible; it is not a contract on a price difference. Jupiter's perpetuals and prediction markets are separate products, unrelated to holding the token.
  4. No excessive gharar : to be verified or tolerated case. The rights, the allocation and the buyback rule are documented, the mint authority is removed (no one can create JUP) and the documentation states that no profit is paid to founders or insiders. However, the MiCA white paper identifies no issuing entity, the two co-founders are pseudonyms (Meow, Ben Chow), and the unissued tokens are held in team and community multisig wallets whose signers were not read. Under A.8, the anonymity of a party that controls the treasury or the administration keys would fail the condition: point left to Halal Bourse.
  5. Real ownership : met. JUP is an SPL token that can be held and withdrawn in any Solana wallet; the contract has no freeze power and no minting right, and the token is on GoPlus's trust list (829,919 holders).
  6. No fraud or manipulation : to be verified or tolerated case. No sanction, fine or regulator alert targeting Jupiter was found (AMF and I-SCAN with no related result), and no deception of JUP buyers is established; a February 2024 accusation about the launch allocation had no follow-up found. The scan finds two signals from the A.8 list: concentration (top ten wallets 66.2%, whose nature was not matched against the team and community multisig wallets described by the community audits) and pseudonymous co-founders. The risk of a rug pull is not established (mint and freeze authorities removed, GoPlus trusted token, 829,919 holders): point left to Halal Bourse.
  7. Revenus illicites de l'émetteur : not met. 53,2 %, au-dessus du seuil de 5 %

Tolerance case

T2 · share of impermissible income: 53.2%. JUP buybacks are funded by 50% of Jupiter's onchain revenue (Litterbox Trust). According to DefiLlama (reading of October 7, 2026), the share of this revenue destined for JUP holders over twelve months is $41.72M: $21.29M comes from Jupiter Perps (leveraged perpetuals, 51.0%) and $0.88M from Jupiter Lend (interest paid by borrowers, 2.1%), that is (21.29 + 0.88) / 41.72 = 53.2% (calculation). The rest comes from swap routing ($17.26M), the jupSOL staking token ($0.92M), recurring orders, token launches and limit orders. Prediction markets (bets on events) and Gacha (randomly drawn card packs) exist but do not feed these buybacks in the data read: their share is not counted. The share comes from an aggregator, not from a Jupiter page (see gaps).

Contract security scan

GoPlus security scan (Solana API; the scan-jeton.mjs script does not cover Solana) of the JUP token: 829,919 holders; top ten wallets 66.2%; no minting, no freezing, no blocked transfer, no transfer hook; GoPlus trusted token; only the metadata remains modifiable by one address. No honeypot or tax signal. Reading: concentration is information; the top two wallets (24.8% and 24.5%) are not attributed on the explorer, and the documentation describes team and community multisig wallets that hold the unissued JUP, without these addresses having been matched; it adds to the pseudonymous nature of the co-founders (see c4 and c6).

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