Is Lido DAO (LDO) Halal or Haram?
Shariah compliance review of Lido DAO (LDO) by Islamic finance scholars at EthicalNode, with separate verdicts for trading and for staking.
Trading verdict: Non-Comfortable
Lido is a family of liquid staking protocols that operate across multiple blockchains, with its headquarters on Ethereum. Lido allows stakers to engage in lending activities to earn additional yield on top of their staking rewards. However, this involvement in lending contradicts Shariah rulings. As a result, we classify the Lido DAO ecosystem as non-Shariah compliant. Source: sharlife.my
Staking verdict: Non-Comfortable
Lido uses staking protocols that allow users to earn staking rewards without locking assets or maintaining staking infrastructure. This protocol contradicts with Shariah's ruling where the staking methods are locking the assets for staking process. Source: sharlife.my
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