Aster

Crypto Halal Report Criteria

We use a disciplined framework to determine if a digital asset is Comfortable from a sharia perspective, based on three core pillars.

Crypto Overview

The assigned rating for Aster is Uncomfortable due to concerns regarding its speculative nature and the lack of transparency in founder allocation and token distribution. While the token has identifiable utility within the Aster DEX ecosystem, the core product involves leveraged or synthetic trading, which is treated as a zero-sum derivative. This aspect raises significant concerns from a Shariah compliance perspective.

• Identifiable utility within the Aster decentralized exchange ecosystem.
• Lack of transparency regarding token distribution and founder allocation.
• Core product involves leveraged or synthetic trading, creating a zero-sum derivative.

The absence of verified information regarding token distribution and founder allocation contributes to the Uncomfortable rating. Additionally, the reliance on synthetic trading mechanisms further complicates the Shariah compliance assessment.

Comparable assessments

• Astar ASTR

  Comfortable

  Astar demonstrates legitimate utility through its smart contract platform and cross-chain infrastructure, with real development activity and actual usage.

• Synthetix SNX

  Comfortable

  Synthetix operates as a legitimate protocol providing real utility through its synthetic assets infrastructure, involving actual asset ownership transfer.

• Bnb BNB

  Comfortable

  BNB demonstrates clear utility within the Binance ecosystem, serving legitimate purposes in transaction fee payments and governance.

• Bancor BNT

  Comfortable

  Bancor's primary function as a decentralized exchange protocol involves the actual exchange of digital assets, facilitating legitimate trading activity.

• Ankr ANKR

  Comfortable

  Ankr operates as a legitimate infrastructure provider in the blockchain space, focusing on essential services without involving prohibited activities.

• Ethena ENA

  Uncomfortable

  Ethena's reliance on perpetual futures trading and yield generation methods closely resembles interest-bearing activities, raising compliance concerns.