Is EigenLayer (EIGEN) Halal or Haram?
Shariah compliance review of EigenLayer (EIGEN) by Islamic finance scholars at EthicalNode, with separate verdicts for trading and for staking.
Trading verdict: Questionable
Eigenlayer is a protocol built on top of Ethereum that allows people to re-stake their ETH (Ether) to secure and participate in additional decentralized services, like securing new blockchains, data, or oracle networks. Given that Ethereum staking is currently uncertain, EigenLayer is also questionable.
Staking verdict: Non-Comfortable
There is no Proof of Stake consensus protocol for EIGEN for users to participate in. This is why any so called "staking" or other instrument with a fixed yield for this cryptocurrency is Not Shariah Compliant, because it lacks participating in creating new blockchain transactions in the blockchain. You can read more about Proof-of-Stake protocol on our Blogs section below this crypto list.
Browse all Shariah-compliant cryptocurrencies on the EthicalNode halal crypto screener.