Is this crypto halal? Shariah screening report
Subsquid
SQD
- Price
- $0.033555
- Market cap
- $37.97M
- Circulating supply
- 1,131,555,248.576
- 24h change
- 0.90%
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
Subsquid is a data processing solution for Web3 projects. The SQD token is used for governance and to pay for services within the Subsquid Network, where node operators process blockchain data for customers. The network provides high-performance APIs and data indexing services essential for blockchain applications.
Honesty & Founder Intent Clear
See token distribution section.
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
Subsquid is a data processing solution for Web3 projects. The SQD token is used for governance and to pay for services within the Subsquid Network, where node operators process blockchain data for customers. The network provides high-performance APIs and data indexing services essential for blockchain applications.
Current Usage
Subsquid has demonstrated adoption within the blockchain ecosystem, particularly in the Polkadot and Ethereum ecosystems. The platform is being used by various blockchain projects for data indexing and API services, indicating legitimate utility.
Development Activity
The project maintains active development with regular updates to its technology stack. The GitHub repositories show consistent activity, and the team regularly releases technical updates and improvements to the platform.
Rating Justification
ComfortableBased on our analysis, Subsquid (SQD) demonstrates clear utility as a blockchain data processing infrastructure token. The project provides legitimate services, has transparent operations, and does not involve any prohibited activities such as interest-based lending or gambling. The business model is straightforward and involves the exchange of real services for token payments.
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.
- corpus