Is Hyperliquid (HYPE) Halal or Haram?
Shariah compliance review of Hyperliquid (HYPE) by Islamic finance scholars at EthicalNode, with separate verdicts for trading and for staking.
Trading verdict: Non-Comfortable
Hyperliquid is an advanced blockchain platform designed to improve the efficiency and performance of decentralized finance (DeFi) applications. It features a unique Layer 1 (L1) blockchain optimized for scalability and performance, utilizing a proprietary consensus mechanism called HyperBFT for fast transaction finality and strong security. A key highlight of Hyperliquid is its decentralized perpetual exchange services, allowing perpetual futures trading directly on its L1 blockchain without gas fees, which lowers costs and boosts transaction speed. Additionally, Hyperliquid uses a fully on-chain order book, enhancing transparency and security, in contrast to many decentralized exchanges that rely on off-chain order books.<br><br>The token is not comfortable to use in light of Shariah standarts, because of derivatives the DEX provides. In this case it is leverage.
Staking verdict: Non-Comfortable
Given our analisys under Shariah standards regarding the permissibility of buying and selling the HYPE, any other instrument that involves HYPE is better to avoid.
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