Is Maker / DAI (MKR) halal or haram?

Q: Is Maker / DAI (MKR) halal or haram?

Raises serious concerns. DAI is created through interest-bearing debt positions (stability fees), which most scholars view as riba.

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Maker / DAI MKR

DeFi stablecoin system

StatusRaises serious concerns

Live price…

What it is

The protocol behind the DAI stablecoin, which uses 'stability fees' on collateralized debt.

Why this assessment

DAI is created through interest-bearing debt positions (stability fees), which most scholars view as riba.

Key considerations

Riba (interest)Backing / reserves

This website is an educational resource, not a religious edict (fatwa). Qualified scholars differ on cryptocurrencies; the assessments here are based on widely-recognised principles of Islamic finance and are provided for learning only. Always consult a qualified scholar before making any decision, and remember that nothing here is financial advice.