Is this crypto halal? Shariah screening report
Onyxcoin
XCN
- Price
- $0.003441
- Market cap
- $134.57M
- Circulating supply
- 39,112,837,511.912
- 24h change
- 1.10%
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 Clear
The primary stated purpose of XCN is to serve as a governance and utility token within the Onyx ecosystem. Token holders can participate in protocol governance decisions and access various platform services.
Honesty & Founder Intent Clear
Token distribution includes allocations for team members, development, and community initiatives. Specific details about vesting schedules and lock-up periods are publicly available through their documentation.
Dealing with Risk & Speculation Clear
Speculative trading of a real asset is treated as trade, not gambling, under the screening framework.
Crypto Overview
Purpose and Utility
The primary stated purpose of XCN is to serve as a governance and utility token within the Onyx ecosystem. Token holders can participate in protocol governance decisions and access various platform services.
Business Model
appears to be based on legitimate technological services without any apparent involvement in prohibited activities.
Development Activity
While the project maintains active development, recent activity has been relatively limited. The team continues to work on infrastructure improvements and enterprise solutions.
Token Distribution
Token distribution includes allocations for team members, development, and community initiatives. Specific details about vesting schedules and lock-up periods are publicly available through their documentation.
Rating Justification
ComfortableBased on our analysis, Onyxcoin (XCN) operates as a legitimate blockchain infrastructure project with clear utility in providing enterprise blockchain solutions. The project does not appear to be involved in any prohibited activities such as interest-based lending, gambling, or adult content. While adoption and development activity may be limited, these factors do not impact its Shariah compliance status. The fundamental business model and utility align with Islamic principles.
While we find this token comfortable to invest in from a Shariah-screening perspective, this does not imply we think it is a strong investment.
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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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