Is Derive halal?
Derive is the token of a derivatives or perpetual futures platform. It is issued as a token on Ethereum.
Derive fails a hard rule of our screen on the Riba-free criterion (30 out of 100). Tagged as derivatives, perpetuals or a synthetic asset. These usually involve leverage, funding payments or interest.
Shariah screen result
mean of the five criteria
Tagged as derivatives, perpetuals or a synthetic asset. These usually involve leverage, funding payments or interest.
Mid-sized and actively traded (market value about $393 million).
Trading contracts without ownership resembles speculation on price alone.
Its value is tied to a working network that people pay fees to use.
Running a public blockchain for payments and applications is a permissible purpose.
How this was made: we scored the coin's public category tags and market size against the same five criteria and thresholds we use in our reviewed screen. Nobody has yet read its whitepaper or checked its revenue. This is a screening result, not a fatwa. Scholars may reach different views, so check with a qualified scholar before relying on it.