Is Synthetix (SNX) Halal or Haram?
Last screened: April 2026 · Reviewed against AAOIFI Shariah Standards
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HARAM — Synthetix
Synthetic assets protocol — creates tokenized derivatives of stocks, forex, and commodities
Screening Criteria
- Technology innovation ✅
- Synthetic assets = derivatives ❌
- Staking collateral earns interest from fees ❌
- Exposure to unlimited synthetic positions ❌
- Core function facilitates haram financial products ❌
Scholar’s Note
Synthetix creates synthetic derivatives of real-world assets — a form of derivative trading that Islamic scholars unanimously classify as haram. SNX stakers earn fees from synthetic trading — making them participants in facilitating haram transactions. Classified as haram.
⚠ This screening is for educational purposes only. For a binding religious ruling (fatwa), please consult a qualified Islamic scholar (mufti) familiar with your specific circumstances.
Our Screening Methodology
We screen every cryptocurrency against 5 criteria derived from AAOIFI Shariah Standards and scholarly consensus:
- ✓ No Riba — No interest-bearing mechanisms or yield that resembles usury
- ✓ No Gharar — No excessive uncertainty or deception in the token’s structure
- ✓ No Maysir — No gambling mechanics or purely speculative mechanisms
- ✓ Genuine Utility — The asset serves a real economic or technological purpose
- ✓ Halal Business — The underlying project does not facilitate haram activities
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