Ethervista (VISTA) is a sustainable DEX with unique ETH-based LP rewards that foster long-term engagement over short-term gains for liquidity providers.

 (DEX) back in 2018 changed the entire landscape of the 

 (DeFi) industry. Thanks to the AMM-based setup, liquidity levels on DEXs have risen sharply, and the efficiency of coin swaps has skyrocketed. Nevertheless, crypto trading using AMM pools has its drawbacks, along with the numerous benefits this model has ushered in.

Among the main cons of AMM DEXs is the short-term approach adopted by many 

 (LPs) and token issuers. Since AMM DEXs pay out LP rewards denominated in the tokens of the pool, many LPs are eager to quickly withdraw their liquidity and sell the tokens at the first sign of volatility. This is understandable, as many of these tokens are highly volatile and may crash and burn quickly, falling victim to the powerful forces driving the crypto market. The same risk of pool assets becoming worthless often drives token issuers to withdraw liquidity and support for their tokens as well. In addition, another drawback of AMMs is the lack of meaningful long-term incentives provided to LPs and token creators.

Ethervista (VISTA) is a new DEX platform that aims to resolve the inherent deficiencies of the AMM trading model. The platform pays out LP rewards in ETH, and distributes the rewards after accumulating them in a dedicated pool so that LPs and token issuers are incentivized by genuine, long-term trading activity in swap pools, rather than by the short-term price movements of tokens in these pools.

 (VISTA) is a new-generation DEX platform on the Ethereum (ETH) blockchain that uses a unique LP rewards distribution model in which LPs and token creators are paid in ETH, based on a mathematical model that ensures fair value for their contributions.

 Ethervista aims to address the key inefficiencies of the standard AMM trading model, particularly the issue of rewards paid out in 

In a standard AMM like Uniswap, LPs earn fees denominated in the pool's token. These fees are generated from trading activity in the pool to which the LP contributes its funds. The key problem with this model is that the asset used for the fee payments — typically an ERC-20 token — is often a highly volatile or obscure cryptocurrency whose origins or future value may be questionable. This drives many LPs away from contributing to pools made up of low-cap, volatile tokens.

Ethervista collects and distributes LP rewards exclusively in ETH, the native cryptocurrency of the Ethereum blockchain. The market's second-highest-capped crypto, ETH is a widely trusted asset that provides greater stability and security than the many tokens used for LP rewards on AMM DEXs.

Ethervista also offers staking rewards denominated in ETH via its 

 services to users locking ERC-20 and LP tokens. Its platform’s operations launched on Ethereum in September 2024.

Ethervista allows any user to configure and launch a 

, specifying a custom fee structure for token buy-and-sell operations. Users can also launch tokens using the app's interface. Partial revenues collected from a pool go to LPs contributing liquidity, while the protocol also collects an additional fee for its treasury and reward distribution model. 

The custom nature of each pool is a drastically different concept from the one used on popular AMM DEXs. In a typical AMM, a fixed fee rate for LP rewards is preset by the platform. At best, you can choose from a few fee tiers, but there isn’t complete flexibility in this regard. On Ethervista, pool creators have much more freedom in terms of setting their preferred fee levels.

Ethervista accumulates revenue collected from the trading activity in a pool and distributes it in ETH to LPs and token creators, based on a mathematical formula — the 

The Euler model employed by Ethervista recalculates the pooled ETH funds for a swap pair following each transaction. It's designed to reward each beneficiary fairly, based on their contributions to the pool over time. Beneficiaries include LPs, token creators and 

The Euler model is designed to incentivize long-term, fair contributions to a pool, reducing the likelihood of short-term focused behavior that many LPs exhibit in traditional AMMs. Another goal of the Euler model is to minimize 

Pool creators need to specify four custom fees when launching a new pool: 

The fees are specified in USD and are recalculated by the protocol in ETH using an on-chain 

There's also an additional fee of $1 per swap transaction that goes to the project's treasury to fund ecosystem development.

 is a component of Ethervista that’s dedicated to 

. It allows users to launch and trade meme coins, similar to the manner in which platforms like 

 operate. Etherfun offers a highly affordable way of creating meme coin assets, as token launches cost only about $1–$2.

If the token creator prefers not to cover the initial deployment costs, the first buyer for the asset can step in and cover the costs. As a reward for covering deployment costs, the first buyer is then entitled to 2% of the meme coin's pool fees.

Etherfun uses a bonding curve model — somewhat similar to the one employed by Pump.fun — whereby the price of an asset follows a specific trajectory, based on the token's buy and sell activity. Etherfun's bonding curve target for a token is set at $4,000, or just one-third of Pump.fun's $12,000. This helps accelerate development for new token projects, providing more realistic success targets for meme coin creators.

VISTA, Ethervista’s native cryptocurrency, is an 

 token launched on Ethereum in early September 2024. Unlike ETH, VISTA isn't used for LP provider rewards or other protocol and liquidity providers' incentives derived directly from Ethervista's trading operations. 

 some VISTA after each transaction using the ETH funds generated from trading activity. The continual decrease in VISTA's supply should lead to its price appreciation, making it a value-compounding deflationary currency.

Upon its launch, VISTA had a total supply of 1 million. The burn mechanism has gradually reduced its supply to 962,287 as of Nov 10, 2024. The supply is expected to slowly trend lower over time, as the Ethervista platform buys and burns the token in line with transaction activity.

 — a decentralized trading platform that supports nine popular blockchains, including Ethereum, Solana (SOL), Arbitrum (ARB) and Avalanche (AVAX). To buy the token, first navigate to the 

: Please ensure that you have a wallet connected to the platform.) Bybit Web3 DEX Pro supports several wallet apps, including Bybit’s Cloud Wallet and Keyless Wallet, in addition to third-party wallets.

In the left pane of the DEX Pro interface, type the name of the token into the search box and select it in the search results just underneath it.

When you land on VISTA's page, simply click on the green 

 button in the top right corner. You'll then be able to select a cryptocurrency that you would like to use to buy VISTA.

As of Nov 14, 2024, the VISTA token is trading at $24.05, which is 67.9% lower than its ATH of $74.91 on Nov 1, 2024 and 457.2% higher than its ATL of $4.32 on Oct 9, 2024.

Long-term price forecasts for VISTA are generally bullish.DigitalCoinPrice 

 rate of $58.37 in 2025 and $173.19 in 2030, whileCoinCodex 

 to hit $113.38 in 2025 and $110.43 in 2030.

Ethervista is an innovative departure from the standard AMM concept, offering LP providers rewards boosted through long-term genuine participation, rather than short-term maneuvering. The distribution of rewards in ETH — rather than volatile ERC-20 tokens — is a rare feature that will certainly be appreciated by DeFi traders, and may also attract significant numbers of new liquidity providers to the platform. 

While Uniswap started the AMM revolution back in 2018, Ethervista may have just initiated a completely new chapter in AMM history by offering LPs and token issuers greater stability and long-term value than ever before.

Intermediate

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Ethervista (VISTA): A Game Changer for DEX Sustainability

Blackrock’s BUIDL, the largest tokenized Treasury fund, has expanded to five new blockchains: Aptos, Arbitrum, Avalanche, Optimism, and Polygon. 

Daily Top Performer — Near Protocol (NEAR)

The S&P 500 fell 0.6% as Fed Chair Powell’s comments on delaying rate cuts, along with a stronger-than-expected October core PPI, lowered December cut odds from 82.5% to 48%.  Coindesk Indices, an index measuring broader cryptocurrency market performance was down  by 2.55%, with Bitcoin and Ether dropping by 2.49% and 1.17%, respectively in the past 24 hours.

Today’s top performer is NEAR, which surged 7.9% after Deutsche Telekom joined the NEAR Protocol to boost decentralization and user-owned AI.

Near Protocol (NEAR), launched on April 2020, is a decentralized platform using sharding for efficient app development and operation, similar to Amazon Web Services but with a distributed network and its own cryptocurrency, NEAR token. Deutsche Telekom’s subsidiary, Telekom MMS, has 

 NEAR Protocol’s Enterprise Node Operator program, becoming the first telecom to run a validator. The partnership aims to enhance NEAR’s decentralization, scalability, and support for user-owned AI, while strengthening data sovereignty and security.

Check Out the Latest Prices, Charts, and Data of 

Blackrock’s BUIDL, the largest tokenized Treasury fund, has 

 to five new blockchains: Aptos, Arbitrum, Avalanche, Optimism, and Polygon. The fund, which launched in March and has a $544 million market capitalization, will also be supported by Ondo for instant withdrawals and settlements. BUIDL’s expansion reflects Blackrock's efforts to capitalize on the growing real-world asset market, with discussions underway to use BUIDL as collateral for futures trading.

Yesterday, the BTC Spot ETF saw an outflow of $527.2 million, with $69.6 million from GBTC and $457.6 million from non-GBTC sources.

, each with unique tasks. For the Rightsfually Badge, complete social tasks and mint it. The PlayArts Badge involves connecting a wallet and creating art, while the Punkga Badge requires enrolling and task completion. The Solo Badge asks users to follow on Twitter and create a song. To claim the Wand Badge, complete social tasks and deposit IP, and for the Standard Protocol Badge, trade assets four times. The Mahojin Badge requires generating and publishing images, and the 1Combo Badge involves task completion and minting a Combo. More badges are expected soon!

Beginner

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Blackrock Expands BUIDL Tokenized Treasury Fund to Five New Blockchains

MemeFi is a web3 social gaming platform that combines strategic clan warfare with tradeable player achievements. Learn more here.

Meme culture and blockchain gaming have collided in MemeFi, creating one of 

's fastest-growing social gaming platforms. With over 50 million players already engaged in its ecosystem, MemeFi has transformed simple gameplay mechanics into community-driven experiences.

Interested in learning more? Let's dive in to learn what makes MemeFi unique, learn how you can participate in its thriving community and see how MEMEFI and PWR tokens drive this dynamic gaming ecosystem.

 is a web3 social gaming platform that combines strategic clan warfare with tradeable player achievements. It operates via a browser-based game and Telegram mini app on which players compete and earn together.

MemeFi's story began in April 2024 when a group of blockchain developers saw an opportunity to transform meme culture into interactive gameplay. Drawing inspiration from the viral success of 

 (PEPE), they built a platform that turned meme enthusiasm into shared gaming experiences.

The concept resonated immediately, attracting over 50 million users drawn to its unique blend of social gaming and earning potential. In October 2024, MemeFi marked a major milestone by partnering with 

 to become the first Telegram mini app to integrate with the Sui blockchain.

MemeFi is on a mission to transform blockchain gaming through four key innovations:

These pillars work together to fulfill MemeFi's ultimate vision of a social gaming ecosystem where memes, community and rewards create genuine value for players.

The MemeFi ecosystem uses the following interconnected mechanisms to create a unique social gaming experience.

MemeFi's social mechanics are founded on its unique key system. Players can purchase keys linked to specific characters, with values increasing along a bonding curve to reward early supporters. Players discover investment opportunities by tracking top performers, trending players and newcomers using the 

Holding keys earns players a share of character winnings, creating a symbiotic relationship that rewards both investors and active players. As successful players attract more key holders, they generate additional revenue through trading, thereby incentivizing skill and strategic investment.

Community engagement thrives through MemeFi's clan system, in which players unite under meme-themed banners. These clans are more than just social groups — they're economic and strategic units that coordinate for greater rewards.

Members participate in collaborative raids and missions, sharing resources and rewards based on contribution. Daily clan raids create opportunities for inter-clan competition as strategic coordination and active participation determine success.

MemeFi uses a dual-token system designed for balanced gameplay and economic stability.

These systems work harmoniously to create an ecosystem in which social gameplay drives real value. Through active gaming, wise investments and/or clan leadership, players have multiple paths to success — all supported by a balanced token economy.

MemeFi offers two distinct ways to play and earn: the strategic depth of 

 represents the platform's flagship browser-based experience, where strategic gameplay meets social interaction. Players enter a vibrant meme-filled universe where they can create unique characters, battle in PvP and PvE scenarios and rise through the ranks to become influential memelords.

The platform's key trading system adds an investment layer to gameplay, letting players profit from supporting successful gamers. Through daily missions, boss battles and clan raids, players can earn MEMEFI tokens while building their reputations in the community.

 is its clan warfare system. Players join forces in themed clans to participate in coordinated raids and territory battles. Under the leadership of elected memelords, clans compete for resources and glory, with rewards distributed based on member contributions.

 reimagines Telegram gaming through innovative tap-to-earn mechanics. It’s set in the same rich universe as 

, where players battle increasingly challenging meme-inspired bosses while managing their energy and resources.

The game stands out through its extensive progression system. Players can boost their power, unlock automated features and participate in special events. With daily missions, clan activities and an incentivized leaderboard, 

 creates multiple paths to earn while maintaining engaging gameplay.

MemeFi's token airdrop (launching November 12, 2024) will distribute tokens to its most engaged players. With 85% allocated to Telegram users and 5% to web3 participants, the airdrop rewards those who have helped build the platform.

Qualification for Telegram users comes from active gameplay and purchases, while web3 participants earn eligibility through testnet involvement, 

 holdings and GAL staking. This strategic distribution approach ensures MemeFi's tokens reach the hands of its most valuable community members.

The platform's development strategy unfolds across the following three key phases.

Focus on token launch, gaming mechanics and economic infrastructure. Key milestones include the token generation event (TGE), introducing staking and burning mechanics, implementing an ML-powered advertising network and expanding the crafting system.

Broaden ecosystem reach through multichain support and DeFi integration. Major developments include launching a meme coin battle platform, establishing prediction markets on Telegram, creating meme coin indexes and expanding the brand into NFTs, comics and merchandise.

Target mainstream audiences through mobile, PC and console gaming markets. Plans include launching standalone apps on iOS and Android, developing real-life meme coin initiatives and further expanding the gaming ecosystem.

The MEMEFI token sits at the heart of the platform's ecosystem, enabling governance, transactions and rewards. With a fixed supply of 10 billion tokens, its distribution heavily favors community participation:

Of MemeFi’s max supply of 10B tokens, 90% is allocated to community and gameplay, powering user rewards and ecosystem development. The remaining 10% is strategically distributed across exchange listings (5.5%), seed investors (1.5%), early adopters (1%), strategic initiatives (1%) and partners (1%).

To protect token value and ensure sustainable growth, team allocations follow an 18-month vesting schedule with a 12-month cliff period.

With MEMEFI's launch approaching in November 2024, various crypto analytics platforms have shared their outlook for the token. Bitrue 

 of $0.06–$0.10 by the end of 2024, while Coin Gabbar suggests a 

The long-term outlook appears optimistic, with Bitrue forecasting growth to $0.50–$1.00 in 2025. Coin Gabbar offers a more measured prediction of $0.050–$0.50. Both platforms cite MemeFi's 50 million user base and substantial community token allocation (85%) as key growth factors.

However, as with all crypto predictions, these forecasts should be viewed as speculative, with actual performance dependent on user retention, market conditions and the platform's ability to execute its road map.

Looking to trade MemeFi tokens? Bybit now offers MEMEFI on Pre-Market Perpetuals. To get started, you’ll first need to create a Bybit account, then fund it with cryptocurrency and navigate to the 

MemeFi shows significant potential in the evolving GameFi landscape, though investors should carefully weigh both its strengths and potential drawbacks before making investment decisions.

While MemeFi's unique social mechanics and large user base set it apart from traditional GameFi projects, potential investors should 

 and invest no more than they can afford to risk.

 Telegram battles to strategic clan warfare, MemeFi is changing the way we think about crypto gaming. With 50 million players already embracing its innovative key system and collaborative gameplay, MemeFi's vision of turning players into stakeholders could reshape the future of blockchain gaming.

memefi.png

MemeFi (MEMEFI): Fusing Play With Social Tech

In this tutorial, we’ll explore how you can complete a series of tasks in Game7 for Bybit Web3 Airdrop Arcade.

In this tutorial, we’ll explore how you can complete Game7 tasks for Bybit Web3 Airdrop Arcade. 

Task 1: Create a Game7 Account and Create Your Avatar

button. This button is located both in the middle of the homepage and at the bottom left corner of the screen.

(Eyes, Eyebrows, Hair, and Facial Hair). Once you’re done, click 

to finalize. Please note that currently, DNA traits cannot be changed once saved.

Task 2: Explore the 6 Pillars of the Game7 Nation

 to explore the 6 pillars of the Game7 Nation.

Repost the post to show your support for the Game7 campaign.

game7 tutorial.png

How to Complete Game7 Tasks for Bybit Web3 Airdrop Arcade

Bybit Learn

Crypto

Is Crypto Halal, or Haram? Learn the key factors Islamic scholars consider when determining whether cryptocurrencies like Bitcoin are permissible (halal) or forbidden (haram) for Muslim investors.

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Cryptocurrencies have emerged as a popular trading and value storage asset over the past decade, with interested investors across the globe, including in the Muslim world. Many predominantly Muslim countries, as well as those with significant Muslim minorities, now feature high rates of cryptocurrency ownership, with the United Arab Emirates (UAE) being the absolute 

 as of 2024. According to the same data, Turkey boasts the third-highest ownership rate, while Singapore, which has a sizable Muslim minority representing around 15% of its population, is in the second position. The UAE and Singapore have also emerged as leading cryptocurrency and 

Despite considerable interest in crypto in the Islamic world, there's still a large degree of uncertainty over its halal status, a key consideration for many Muslim investors. Some countries — for example, the UAE and Saudi Arabia — have issued warnings about the Shariah-compliant status of cryptocurrency and/or crypto trade. However, no country has banned crypto outright on these grounds. 

Adding to the confusion, many Islamic scholars have arrived at varying interpretations of the nature of cryptocurrency. Some scholars have opined that crypto is haram (not permissible for Muslims), while others have issued advisory notes broadly endorsing the majority of cryptocurrencies, including 

 (BTC). Due to this difference of opinions, and the absence of any single centralized ruling, many investors are uncertain whether crypto is halal — i.e., permissible for Muslims.

This article covers key points in the ongoing discussion to help you decide whether any cryptocurrencies can be considered halal assets.

 are digital assets issued and used on blockchains, decentralized networks on which the issuance, transfers and storage of these assets are protected through a cryptographic security mechanism. In a typical blockchain, many independent user nodes protect the operations and integrity of the network through a decentralized 

. This decentralized consensus, as well as independence from a central controlling entity, makes these networks and their cryptocurrencies a viable alternative to traditional banking systems.

The world's first (and still largest) cryptocurrency is Bitcoin, the native digital asset of the Bitcoin blockchain that was launched in 2009. A few years after its introduction, Bitcoin was being traded on platforms beyond its native network, such as 

 (DEXs) based on other blockchains. By now, thousands of cryptocurrencies are in existence, and these digital assets form an important asset class within the broader finance ecosystem.

On their native blockchain platforms, cryptocurrencies serve as assets for value transfer and storage, and also contribute to keeping their respective blockchains secure and functional so that these networks can operate in a decentralized way. All crypto operations on blockchains are publicly viewable, upholding the transparency ethos of blockchain technology. On CEXs and DEXs, cryptocurrencies can be used for value transfers and storage, as well as for trading to generate profit.

To define whether cryptocurrency is halal for Muslim investors, a firm understanding of Shariah and its specific subset, Islamic finance, are imperative. Shariah defines the overarching set of principles, regulations and laws that guide Muslims' personal, moral, ethical, legal and economic behavioral standards and obligations. Among the fundamental tenets of Shariah law are justice and fairness in all dealings, correct worship practices, good morals and behaviors that Muslims must follow, public and personal health and cleanliness standards, cooperation and solidarity among members of the society, and worship and societal transaction standards.

The last mentioned element of Shariah law — worship and transaction standards — includes a subset of rules and regulations dealing with financial transactions, practices and ethos. These laws and regulations form the body of the Islamic finance principles that Muslims must follow. Some of the fundamental principles of Islamic finance include the prohibition of interest (riba); excessive uncertainty (gharar); and gambling/speculation (maysir). In addition, there’s a proscription against activities that don't result in tangible value for the individual and society. Key principles also include transparency in dealings, and maintaining fairness and ethical standards in all transactions.

Many of the key characteristics of cryptocurrency align with the major principles of Islamic finance. This includes the absence of interest in crypto transactions, the use of cryptocurrency for secure value storage without speculation or excessive uncertainty, and the transparent nature of blockchain-based crypto operations.

Islamic Scholars’ Views on Cryptocurrency

Islamic scholars have not formed a unified view on whether cryptocurrency is either halal or haram. Some scholars or institutions consider it haram. For instance, Turkey's 

 that crypto is haram, due to its potential for speculative use (i.e., maysir). Another high-profile opinion on this matter came from the former Grand Mufti of Egypt, Dr. Shawki Allam, 

 crypto trading may be haram due to its unregulated nature and potential to be used for funding illicit activities.

However, many other Islamic scholars and institutions assessing the Shariah compliance of financial products take a more nuanced approach. For example, the Shariyah Review Bureau, a popular Shariah compliance consultancy that operates the 

 portal, assesses the halal status of each cryptocurrency individually based on its use cases and functions.

In general, the Bureau assigns the haram classification for lending and borrowing 

 (AXS) and meme coins with zero utility, such as Dogecoin (DOGE). For most other cryptocurrencies, including Bitcoin, it typically endorses the halal classification. The advantage of the Bureau's approach is in its detailed and selective nature of assessment. Instead of treating all crypto assets and platforms as one and the same, the Bureau examines the details of each asset.

Some scholars and institutions have largely endorsed crypto in general as halal. One of the U.K.'s leading Islamic law scholars, Mufti Abdul Qadir Barkatullah, has maintained that cryptocurrency is halal because it’s evolved into a widely accepted form of value exchange. This aligns with an earlier ruling specifying that if an asset has been widely accepted as a legitimate form of payment in society, it should be treated as halal.

Another leading Islamic scholar, Mufti Muhammad Abu Bakar, takes an in-depth look into cryptocurrency, Bitcoin and blockchain in general in his 

, concluding on the basis of his extensive review that cryptocurrency is halal.

So, Is Cryptocurrency Halal — or Haram?

How can Muslim investors make confident investment decisions concerning these digital assets in an environment of varying opinions on crypto's halal status? In general, it's recommended that prospective traders or investors take a selective approach and look at the features and functionality of each crypto asset and product they might consider. Cryptocurrencies and blockchains differ substantially in terms of their properties. Some, like the crypto tokens of DeFi platforms on which interest features prominently, aren't likely to be viewed as halal by anyone.

Many other crypto coins, however, aren't related to interest-generating solutions, and their transfers and storage involve no interest (riba), uncertainty (gharar) or speculation (maysir).

Some cryptocurrencies represent tokenized versions of 

 (RWAs). These are directly based on tangible assets that may exist beyond the crypto world, such as real estate, stocks and bonds. Depending upon their origin, these assets may align well with the principle of tangibility in Islamic finance, which stipulates that any economic activity should be based on real assets and the generation of real-world value.

When it comes to crypto trading — as opposed to the basic operations of transferring and storing funds — the halal status of cryptocurrencies might be less certain, depending upon the actual trading product used. The same asset (e.g., Bitcoin) might be used in crypto trading and investment products that involve no riba, and feature low probability of uncertainty or speculation. These products might qualify as halal. On the other hand, if the same crypto asset is used in an interest-bearing or highly volatile trading product, it's unlikely to be aligned with Islamic principles. As such, a decision often depends upon the precise product features, rather than the underlying cryptocurrency itself.

Bitcoin is by far the largest cryptocurrency by market capitalization, and typically features volatility levels that are significantly lower than those of most other crypto assets. Its high trading volumes and reputation as a secure value storage asset contribute to its lower volatility and, therefore, lower uncertainty than that of lower-cap cryptocurrencies.

Bitcoin also features the valuable utility of being used as a secure and private 

 (P2P) exchange asset. Moreover, Bitcoin is a 

 cryptocurrency, with a maximum supply limit of 21 million tokens. This characteristic is designed to avoid excessive supply inflation, and to reduce the likelihood of its devaluation. Such a deflationary feature arguably adds stability to Bitcoin, further enhancing its potential acceptance as a halal asset.

As a vehicle of value exchange and wealth storage with deflationary characteristics, Bitcoin itself — unless used in specific interest-bearing or highly volatile crypto products — might be deemed halal, a view that is shared by the assessment of the 

Other Notable Shariah-Compliant Cryptocurrencies

Ether (ETH) is the second-largest crypto by market cap behind Bitcoin. It's used to secure the operations of the 

 blockchain, and may be used for digital value transfers and storage, similar to the way the BTC coin is used on the Bitcoin blockchain. ETH provides tangible value as a secure wealth exchange and storage asset in a decentralized environment. As such, unless it's used in specific interest-bearing or highly volatile crypto trading products, ETH might qualify as a halal asset.

It should be noted that the Ethereum blockchain hosts a variety of 

 (DApps), many in the DeFi niche. Certain DeFi apps on Ethereum are actively involved in interest-bearing lending, borrowing and yield management operations. However, these DApps normally use their own crypto tokens — e.g., AAVE or COMP — for these operations, rather than the ETH token.

 cryptocurrency that maintains a tight peg to the U.S. dollar. While it ranks behind BTC and ETH, taking the third position in market cap rankings, USDT is the world's most traded crypto asset. Its stable peg to the greenback has largely been successfully maintained since Tether’s launch in 2014, which makes it a highly popular asset for crypto-to-fiat operations. The coin's near-perfect stability and backing by the world's most popular fiat asset makes it an RWA that is likely to be considered halal.

 blockchain, Ethereum's major competitor in the niche of DApp-capable blockchains. Solana aims to provide a platform for DApps that’s cheaper and faster than Ethereum. In general, SOL performs exactly the same functions on Solana as ETH does on Ethereum: digital value transfers, value storage and securing the network via its 

 (PoS) block validation mechanism. Similarly to BTC and ETH, SOL is likely to be considered a halal asset unless it’s used in specific interest-generating or highly speculative crypto products.

 is the native cryptocurrency of the decentralized public XRP Ledger. The token is used primarily to support B2B payments and settlements. As a cryptocurrency that enables efficient and secure digital currency payments in the business world, XRP provides real utility, arguably bolstering its viability as a halal asset.

 (POL) is an ecosystem of decentralized platforms and solutions that primarily provides cost-efficient and scalable ways to conduct crypto operations on the Ethereum blockchain. The ecosystem's native crypto asset, POL, is used to secure the functioning of these platforms through a decentralized consensus mechanism. It can also be used for secure digital asset transfers and storage. POL’s functions are largely similar to those of ETH and SOL within their respective environments, increasing the likelihood that POL is to be considered a halal asset.

The use of cryptocurrencies raises specific concerns from the perspective of Islamic finance. Many crypto trading activities involve excessive volatility, which may lead to uncertainty (gharar). There are also instances of crypto products supporting speculative activities that may qualify as being maysir.

Additionally, while most blockchains are publicly viewable (which contributes to better transparency), the actual identities of address holders remain anonymous. This might raise ethical concerns with regard to the legality and ethics of funds circulating on the blockchain. Some might also argue that the digital nature of cryptocurrencies could contradict the Islamic finance principle of all economic activity being based on tangible assets.

Despite these concerns, it's important to remember that cryptocurrency is designed simply for the secure storage and exchange of value while promoting the independence and decentralization of blockchain platforms. This in itself provides tangible value to the concept of cryptocurrency. Importantly, by default, crypto transactions involve no interest (riba), and they operate away from traditional banking systems in which riba is a heavily utilized mechanism.

As such, depending upon the actual trading or investment product involved, cryptocurrencies may selectively be considered to be assets aligned with core Islamic finance principles.

Since there's no central governing body that provides a definitive and all-inclusive fatwa (ruling) on cryptocurrencies' halal status, Muslim investors need to look into the specifics of each product and crypto asset they might consider. If the cryptocurrency or the product it's based on is free from riba, involves no excessive risk and isn't based on speculation, it might comply with Shariah principles. Additionally, Muslim investors might further consider specifically designed Shariah-compliant cryptocurrency products, such as 

, to ensure that they take advantage of crypto opportunities without violating the principles of Shariah.

Disclaimer: Due to varying opinions on Shariah compliance of crypto trading, we recommend you to conduct your own further research. Please note that the posts on Bybit Learn should not be considered as fatwa. Our aim is to present information on different topics to empower readers to make informed decisions.

Is Crypto Halal, or Haram? What Muslim Investors Need to Know

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