Is Arbitrum (ARB) Halal or Haram?
Shariah compliance review of Arbitrum (ARB) by Islamic finance scholars at EthicalNode, with separate verdicts for trading and for staking.
Trading verdict: Comfortable
Arbitrum is a suite of scaling solutions for Ethereum developed by Offchain Labs. The native governance token of Arbitrum, ARB, is used for governance and staking purposes. Currently, the Arbitrum project does not seem to directly support activities that violate Islamic law.
Staking verdict: Questionable
There is no Proof of Stake consensus in this blockchain. This is why any so called "staking" or other instrument with a fixed yield for this cryptocurrency is at least questionable, because it lacks participating in creating new blockchain transactions in the blockchain. <br><br>You can read more about Proof-of-Stake protocol on our Blogs section below this crypto list. However, we are not talking about other pledge or liquidity instruments that involves ARB. It will have a separate ruling.
Browse all Shariah-compliant cryptocurrencies on the EthicalNode halal crypto screener.