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Is MemeCore (M) halal?

Questionable

No condition fails, but 3 points remain to be verified or fall under a tolerated case.

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.

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The asset

Native currency of MemeCore, an EVM-compatible layer 1 designed for memecoins (block production by proof of authority with 7 active validators, “Proof of Meme” reward framework); a bridged version exists as BEP-20 on BNB Smart Chain and as ERC-20 on Base Issuer: Puple AI Inc., a Panamanian company incorporated on February 17, 2025, which develops and operates the protocol and filed the MiCA white paper (admission to trading on the Kraken platform in the European Union, home Member State: Ireland, published September 11, 2026). Executives named in the white paper: Ahn Jun Hyuk (CEO), Hsu Ting (CMO), Rong Rudy (CGO) and three directors. Anteater Labs Pte. Ltd. (Singapore, holder of the official website's rights) and South Polaris Foundation (Panama) are cited as parties to the implementation. The white paper is not approved by any authority..

Initial supply of 5 billion M at token generation, maximum of 10 billion, the remainder created by block rewards (30 M per block of about 7 seconds). CoinMarketCap data of October 7, 2026: 41st rank, price of $1.02, 2.28 billion M in circulation (circulating market capitalization of about $2.3 billion), total supply of 5.42 billion. According to the press, the price lost about 75% in one session on June 25, 2026 with no identified trigger.

Why this verdict

  1. Permissible purpose : to be verified or tolerated case. M has documented functions on its own network: payment of transaction fees (the network's only means of payment), staking and delegation to validators, participation in governance (documentation, phase 2); the white paper states that it has no other function at the protocol level and confers no enforceable right. The network has been in service since February 13, 2025. Real use beyond the meme is not established by an independent source: the white paper, an issuer document, is the only source for the functions; investigator ZachXBT noted in June 2026 that no transfer above $50,000 took place on BNB Smart Chain in over two weeks and that on-chain liquidity there is below $100,000, and the DefiLlama database lists no locked value for a MemeCore chain (gaps). The flagship product cited by the ecosystem is a leveraged perpetual contract platform (autres_constats). To be decided: real function within the meaning of rule A.8 (network fees of a network in service) or a token whose use remains to be established.
  2. No riba : met. Holding M pays nothing in itself: the white paper states that it grants no yield, fee share or redemption right outside the staking mechanism. Staking rewards come from the issuance of new M at each block (30 M per block), not from a loan; they are not guaranteed. Staking is covered in autres_constats.
  3. No gambling : met. The spot purchase is of the native currency of a network in service, transferable without technical or contractual restriction; it is not a contract on a price difference. The point depends on the token's function (c1): if the token were judged to have no function, c3 would fall with c1 (rule A.8).
  4. No excessive gharar : to be verified or tolerated case. The issuer is identified and the allocation is published (community 58%, foundation 15%, core contributors 13%, investors 12%, “meme” treasury 2%), with a supply capped at 10 billion and a documented block issuance. But the project holds 75.59% of the total supply as of July 6, 2026, of which 66.90% is in cold storage: the release schedule for these holdings is not published in the documents read, and the white paper notes that a public address cannot always be attributed to a person. Block production relies on 7 active validators chosen by the amount staked (registration open to any address with a minimum stake of 7 million M); the identity of the 7 active validators and the share of their stake held by the issuer were not established. Lock-up duration and network control cannot be verified.
  5. Real ownership : met. M is held in any EVM-compatible wallet to which the MemeCore network is added (chain ID 4352), without an intermediary. The withdrawal conditions of purchase platforms, and those of the bridge to the BEP-20 version, were not studied.
  6. No fraud or manipulation : to be verified or tolerated case. No sanction, fine or court decision found; the AMF blacklist returns nothing; the team is identified. Reading of the GoPlus scan under A.8 (BEP-20 version of the token, scan_securite): the right to modify the contract via proxy is a power of an identified issuer, not a rug pull signal; one established signal remains, concentration: the issuer retains 75.59% of the total supply (white paper) and, on the BEP-20 copy, the top ten wallets excluding platforms and contracts hold 95.2%, of which 80.1% in a single unlabeled address. A second possible signal is not established: the liquidity of the BEP-20 copy rests on a single unidentified, unlocked address, and on-chain liquidity there is reportedly below $100,000. Allegations, with no judicial follow-up or regulator decision: investigator ZachXBT has claimed since April 2026 that insiders hold more than 90% of the supply and, on June 25, 2026, deceptive practices by the team to inflate user numbers; the price lost about 75% the same day with no identified trigger. One established signal: to be verified. If the address holding the liquidity of the BEP-20 copy were established as belonging to the team, that would be a second signal (c6 not met).

Contract security scan

GoPlus security scan of the BEP-20 version of the token (contract 0x22b1458e…31fa on BNB Smart Chain), a bridged copy whose supply is 1.155 billion M out of 5.42 billion in total; the native currency, with no contract, cannot be scanned. 8,532 holders; top ten wallets excluding platforms and contracts: 95.2%; published code; no honeypot, minting, freezing or tax found. Signals found: contract modifiable via proxy (is_proxy); top ten wallets at 95.2%. Reading under A.8: the contract update is a power of the identified issuer (Puple AI Inc.), not a signal; concentration is a signal, which concerns the bridged copy (an unlabeled address, with no BNB balance, holds 925,925,926 M, i.e. 80.1% of the copy) and is not the concentration of the total supply, of which the issuer's share is 75.59% (white paper). Chain reading on October 7, 2026: the proxy implementation slot is populated and the standard admin slot is empty; the update authority is not identified. ERC-20 version on Base (0x491CC54c…9dA1): not scanned.

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