Is this crypto halal? Shariah screening report
Mango
MNGO
- Price
- $0.026266
- Market cap
- $29.35M
- Circulating supply
- 1,117,466,989.397
- 24h change
- -6.01%
Report generated 8/27/2026, 6:34:27 PM · stored corpus assessment · confidence 88%
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.
Purpose & Real-World Value Flagged
The primary purpose of MNGO is to provide governance rights over the Mango Markets protocol. Token holders can vote on protocol upgrades, risk parameters, and other key decisions. Additionally, MNGO tokens can be staked to earn a portion of the protocol's trading fees.
Honesty & Founder Intent Clear
The token distribution includes allocations to the DAO treasury, insurance fund, and early contributors. The project maintains relative transparency regarding token allocations and vesting schedules.
Dealing with Risk & Speculation Flagged
Zero-sum or gambling-style activity was identified.
Crypto Overview
Purpose and Utility
The primary purpose of MNGO is to provide governance rights over the Mango Markets protocol. Token holders can vote on protocol upgrades, risk parameters, and other key decisions. Additionally, MNGO tokens can be staked to earn a portion of the protocol's trading fees.
Business Model
Mango Markets operates as a decentralized exchange (DEX) and lending platform, offering spot trading, perpetual futures, and lending services. While the spot trading aspects align with Islamic principles, the lending and perpetual futures components raise significant concerns from a Shariah perspective. Development and Adoption The platform has faced significant challenges, including a major exploit in October 2022 that resulted in a $100+ million loss. Following this incident, the platform underwent restructuring and continues to operate, though with reduced activity levels. Development continues through the Mango DAO.
Token Distribution
The token distribution includes allocations to the DAO treasury, insurance fund, and early contributors. The project maintains relative transparency regarding token allocations and vesting schedules.
Rating Justification
UncomfortableWhile MNGO has legitimate utility as a governance token, the core activities of the Mango Markets protocol, particularly its lending and perpetual futures trading features, are problematic from an Islamic finance perspective. These activities involve interest-based lending and speculative derivatives trading that constitute zero-sum games without underlying asset exchange. The protocol's primary revenue streams come from activities that are not aligned with Shariah principles, making it difficult to separate the compliant aspects from the non-compliant ones.
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Disclaimer: These reports are findings of AI analysis and cannot be guaranteed to be accurate. Ratings reflect opinions derived from automated criteria applied to the sources you submitted and a corpus of prior assessments. This is not a fatwa and does not determine Islamic law. Ratings may change as projects evolve. Always conduct your own research before investing.
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