Is this crypto halal? Shariah screening report

Raydium

RAY

Comfortable

Price: $0.780999
Market cap: $210.51M
Circulating supply: 269,538,779.597
24h change: 0.21%

Report generated 8/27/2026, 6:34:28 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 RAY token serves multiple functions within the Raydium ecosystem: It is used for governance, allowing holders to participate in protocol decisions. It enables liquidity provision to AMM pools where users can earn trading fees. Token holders can also stake RAY to earn rewards from protocol revenue.

Honesty & Founder Intent Clear

The initial token distribution allocated portions to the team, advisors, and early investors with vesting schedules. While there is some concentration of tokens among early participants, this is typical for DeFi protocols and doesn't inherently indicate problematic tokenomics.

Dealing with Risk & Speculation Clear

Speculative trading of a real asset is treated as trade, not gambling, under the screening framework.

Crypto Overview

Decentralized Exchange (DEX) TokenDeFiAMMDEXSolana Ecosystem

Purpose and Utility

Current Usage

Raydium has established itself as one of the leading DEXs on Solana, with significant daily trading volume and total value locked (TVL). The platform maintains active development and regular updates, indicating genuine utility and adoption.

Token Distribution

Rating Justification

Comfortable

Raydium's primary functions of facilitating trading and liquidity provision align with Islamic financial principles as they involve actual asset exchange and value creation. The platform does not engage in interest-bearing activities or gambling-like features in its core functions. While the protocol includes staking mechanisms, these represent legitimate participation in protocol operations and fee distribution rather than interest- bearing loans. Trading activities on the platform involve real asset exchange rather than zero-sum gambling.

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.

Comparable assessments

Jupiter JUP
Comfortable
Comfortable — From a Shariah compliance perspective, Jupiter's core business of facilitating asset exchange aligns with Islamic principles. The platform enables actual transf
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Orca ORCA
Comfortable
Comfortable — Based on our analysis, Orca operates as a legitimate decentralized exchange facilitating the real transfer of digital assets. The protocol's core functions alig
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1inch 1INCH
Comfortable
Comfortable — The 1inch Network demonstrates clear utility through its DEX aggregation service, providing genuine value to users through optimal trading routes and reduced co
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Mango MNGO
Uncomfortable
Uncomfortable — While MNGO has legitimate utility as a governance token, the core activities of the Mango Markets protocol, particularly its lending and perpetual futures tradi
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None QUICK
Unclear
Unclear — Due to this being a deprecated token that has been replaced by a new version, and the original staking mechanism raising concerns about riba, we classify this t
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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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