DeepBook Protocol
DEEP#173DEEP is the fee and governance token of DeepBook, the shared on-chain order book of the Sui blockchain.
- Market cap
- $136.97M
- Volume 24h
- $7.27M
- All-time high
- —
- Circulating supply
- 5.88B of 10B
Does not clear all 8 Shariah criteria. Needs caution: interest (riba), gambling (maysir), business model, and usage.
- 4 pass
- 4 caution
- 0 fail
Verdict history
- DoubtfulCurrent
First publication
Fundamentals, market picture and news will appear here.
Halal analysis
Can a Muslim hold DeepBook Protocol?8 Shariah criteria
4 pass · 4 caution · 0 failHolding or staking DEEP pays no interest, but the protocol itself runs interest-bearing lending pools for margin trading.
Riba is interest or any guaranteed increase on a loan. DEEP holders receive no interest: staking DEEP gives fee discounts, maker rebates and votes, not a return on a loan. But DeepBook Margin is part of the protocol, not a third-party app: traders borrow from its lending pools and the borrow accrues interest to the pool. CryptoUmmah, the authoritative source, treats this as direct riba exposure and rates the coin doubtful. Because the interest goes to pool lenders and not to DEEP holders, the status is caution and not fail.
DEEP pays trading fees and gives fee and governance rights on a working order book.
This criterion asks whether the asset has real value as property (mal). DEEP is needed to pay fees on DeepBook and is staked for fee discounts and votes on pool parameters. CryptoUmmah's doubts are about the margin product, not about what the token is. No coin-specific problem with the nature of the asset is shown, so the criterion is at the maximum. The general scholarly dispute about crypto is reflected in confidence.
DEEP is not a bet, but the protocol's Predict product lets users stake on short-term Bitcoin price levels against a shared pool.
Maysir is gambling: gaining or losing by chance rather than through productive exchange. DEEP itself has no chance-based feature. But Predict, launched in the DeepBook App on 24 September 2026, lets users pick any Bitcoin price level or range for periods as short as one minute, with one shared pool taking the other side; the project describes it as trading BTC options. Positions on price moves over minutes with no delivery of the asset are close to betting. The feature sits in a protocol product and not in the token, so the status is caution.
Spot trading fees are permissible, but the protocol also earns from margin lending and short-term options, and the split is not published.
This criterion asks how the protocol earns. Fees for matching fully paid spot trades are permissible. DeepBook also runs margin lending pools that charge interest and a Predict product for short-term options. No breakdown of fees by product is published. Impermissible activity is shown to exist while its share is unknown, so under the threshold rule the criterion is at caution.
Fee, staking and burn rules are documented in detail, but audit evidence is disputed and supply data differ between trackers.
Gharar is excessive uncertainty or hidden information. The fee bounds, staking requirements, rebate formula and burn rule are documented. Two concrete points lower the score within pass: the site says the contracts are audited, while CryptoUmmah cites sources saying there is no formal security audit; and circulating supply differs widely between CoinMarketCap (5.88 billion) and CoinGecko (2.5 billion), with insider and investor tokens vesting to 2031 according to CryptoUmmah.
DEEP is used to pay for spot trading, but the same protocol is used for leveraged margin trading and short-term price bets.
This criterion looks at what the protocol is actually used for. Spot trading through a shared order book is a permissible use. Margin trading with borrowed funds and Predict positions are not, and the DeepBook App promotes Spot and Predict side by side. The share of each is not published, so the status is caution.
Fully paid spot DEEP is available on exchanges and can be self-custodied on Sui.
This criterion asks whether the asset can be owned in a permissible way. DEEP trades spot on Upbit, Bybit and Gate and on Sui exchanges, and can be held in a self-custody Sui wallet. The criterion is at the maximum.
Shared, self-custodial liquidity is a real benefit; leverage and short-term options products add harm.
Maslahah weighs benefit against harm. A shared on-chain order book gives traders deeper liquidity while they keep custody of their funds. Against that, the protocol adds leverage with liquidation risk and very short-term options, which mainly serve speculation. The benefit of the spot infrastructure is larger, so the status is pass with a lowered score.
How you can use it
Tap a card for the ruling and sourcesBuying DEEP with full payment and immediate delivery is available on exchanges, and the tokens can be held in self-custody.
No exchange-traded fund or product holding DEEP was found in the sources collected. A product that held DEEP would be judged like spot; its structure would need checking.
DEEP pays trading fees on DeepBook. Using it to pay for fully paid spot trades is acceptable; tier-1 bodies such as Indonesia's MUI reject crypto as general currency.
Staking DEEP in a pool gives lower fees, maker rebates and votes on pool parameters. It is not a loan and pays no fixed return. Rebates earned on margin or Predict activity should be avoided.
Margin trading is never acceptable: it is a deferred exchange with borrowed money and leverage (AAOIFI SS 20).
Futures, perpetuals and options always fail under AAOIFI SS 20: deferred exchange without delivery, usually with leverage.
Supplying assets to DeepBook Margin lending pools, or lending DEEP through exchange or DeFi programmes, earns interest paid by borrowers. This is riba.
Yield on DeepBook comes from margin lending pools (interest) or from the Predict pool that takes the other side of options trades. Both fail.
Scholars quotes
Penggunaan cryptocurrency sebagai mata uang hukumnya haram, karena mengandung gharar (ketidakjelasan), dharar (bahaya) dan bertentangan dengan Undang-Undang nomor 7 tahun 2011 tentang Mata Uang dan Peraturan Bank Indonesia nomor 17 tahun 2015 tentang Kewajiban Penggunaan Rupiah di Wilayah Negara Kesatuan Republik Indonesia.Sebagaimana mata wang yang lain, mata wang digital hendaklah tidak digunakan sebagai bayaran kepada barangan, perkhidmatan dan aktiviti tidak patuh Syariah seperti pembelian dadah, pelacuran, perjudian dan pendanaan aktiviti keganasan serta penggubahan wang haram.The SAC has also resolved that investment and trading of Digital Assets that fulfil the above requirements and which are traded on Digital Asset Exchange (DAX) registered with SC are permissible.Third: In light of the above and given the significant risks associated with this type of currencies and the instability of their transactions, the Council of the Academy recommends pursuing research and studies on issues affecting its ruling.Bitcoin is a digital currency that does not meet the legal and Sharia criteria that make it a currency subject to the rulings of dealing with official legal currencies recognized internationally.بناءً على ذلك: فلا يجوز شرعًا تداول عملة "البتكوين" والتعامل من خلالها بالبيعِ والشراءِ والإجارةِ وغيرها، بل يُمنع من الاشتراكِ فيها؛ لعدمِ اعتبارِها كوسيطٍ مقبولٍ للتبادلِ من الجهاتِ المخُتصَّةِ، ولِمَا تشتمل عليه من الضررِ الناشئ عن الغررِ والجهالةِ والغشِّ في مَصْرِفها ومِعْيارها وقِيمتها، فضلًا عما تؤدي إليه ممارستُها من مخاطرَ عاليةٍ على الأفراد والدول.According to research and opinion of experts so far, cryptocurrency is not considered ‘ maal ’ (wealth) in Sharia.Muhammadiyah memandang transaksi dan investasi kripto pada dasarnya mubah (boleh) tetapi dengan syarat tertentu.The opinion on this is the same as doing the same with any halal assets such as shares – 1) is permissible, 2) is more debatable and there are differing opinions on short-term trading.Our current position is 'tawaquf'; we can't say it is halal or haram, but we say it is better not to engage in itAs I mentioned at the beginning of this article it is not necessary to substantiate the permissibility of something as long as there are no prohibited factors involved in it or surrounding it.AI-assisted analysis checked against sources. Not a fatwa or investment advice.
Where it trades
Section in preparation
Similar halal assets
Halal verdict, same category
