Is Bonk (BONK) Halal or Haram?
Shariah compliance review of Bonk (BONK) by Islamic finance scholars at EthicalNode, with separate verdicts for trading and for staking.
Trading verdict: Questionable
BONK is a cryptocurrency created for the Solana community as a memecoin, but lacks transparency with no clear information about the team, no roadmap, and is unregulated. Source: sharlife.my In our view, generally speaking, the shariah status for such meme coins is questionable, because these is a lot fo grey areas. However, when those tokens are received as a reward or a drop for relevant activities, we do not see it as a problem if one sells those tokens on a market.
Staking verdict: Non-Comfortable
There is no actual consensys protocol for this token. This is why any so called "staking" for this token is better to avoid, because it lacks participating in creating new blockchain transactions in the blockchain. More about actual Proof of Stake you can read in our Blogs section below this crypto list.
Browse all Shariah-compliant cryptocurrencies on the EthicalNode halal crypto screener.