Is Moonbeam (GLMR) Halal or Haram?
Shariah compliance review of Moonbeam (GLMR) by Islamic finance scholars at EthicalNode, with separate verdicts for trading and for staking.
Trading verdict: Comfortable
Moonbeam is an Ethereum-compatible smart contract parachain on Polkadot that simplifies building and redeploying Solidity projects in a Substrate environment. It mirrors Ethereum's Web3 RPC and extends its features with on-chain governance, staking, and cross-chain integrations. Moonbeam allows developers to use existing Solidity contracts with minimal changes and connect popular tools like MetaMask and Hardhat. It supports unified accounts and integrates seamlessly with other Polkadot parachains and external chains like Ethereum and Bitcoin. Founded in 2019 by Derek Yoo of Pure Stake, Moonbeam enhances interoperability in the blockchain ecosystem. Sharlife.my: The project does not contain any non-Shariah-compliant elements.
Staking verdict: Questionable
Several DeFi protocol are build on Moonbeam, and some of them might provide Non-Shariah compliant activities. Therefore it is advised to avoid participating in consensus protocol for GLMR.
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