Is Plume halal?
Plume is a token that represents real-world assets. It is issued as a token on Ethereum.
Plume does not clear every threshold of our screen. Its weakest point is the Riba-free criterion (56 out of 100). Real-world-asset tokens are often backed by debt instruments that pay interest.
Shariah screen result
mean of the five criteria
Real-world-asset tokens are often backed by debt instruments that pay interest.
Fairly small (market value about $123 million). Smaller markets move more easily.
Nothing in its public tags points to gambling-style mechanics.
Whether the backing is permissible depends on the specific assets.
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.