edgeX
EDGE#155edgeX is a decentralised exchange for leveraged perpetual futures on crypto, stocks and forex; EDGE is its governance and staking token.
- Market cap
- $169.19M
- Volume 24h
- $5.86M
- All-time high
- —
- Circulating supply
- 350M of 1B
Fails our Shariah screening. Needs caution: interest (riba), nature of the asset, excessive uncertainty (gharar), and benefit and harm (maslahah). Fails: gambling (maysir), business model, and usage.
- 1 pass
- 4 caution
- 3 fail
Verdict history
- Not halalCurrent
First publication
Fundamentals, market picture and news will appear here.
Halal analysis
Can a Muslim hold edgeX?8 Shariah criteria
1 pass · 4 caution · 3 failThe funding-rate formula includes an interest-rate component, and EDGE staking pays a share of fees from leveraged trading.
Riba is interest or any guaranteed increase on a loan. edgeX documents that its funding rate includes an Interest Rate component based on the borrowing rates of the quote and base currencies, and EDGE stakers earn a share of protocol rewards derived from transaction fees on this leveraged trading. CryptoUmmah, the first authoritative source that rates edgeX, scores riba 35/100. Holding EDGE alone pays nothing and the staking return is variable, so the criterion is at caution rather than fail.
EDGE is a governance and fee-share token whose value rests on a leveraged derivatives exchange.
This criterion asks whether the asset has real value as property (mal). EDGE gives governance votes and a staking share of fee rewards, so it has a real function; but that function is tied entirely to an exchange for leveraged perpetual futures. CryptoUmmah rates the token Haram. Because the token’s value is a claim on an impermissible activity, the criterion is at caution.
The core product is leveraged perpetual futures on crypto, stocks and forex.
Maysir is gambling: gaining or losing by chance rather than through productive exchange. edgeX's core product is perpetual futures with margin and liquidation, on crypto, stock and forex prices, which CryptoUmmah describes as up to 100x leverage. These are bets on price movement without delivery. The token itself crashed 71% in an hour on 2 June 2026, triggering cascades of liquidations. The criterion fails.
edgeX earns from leveraged derivatives trading, liquidations and funding flows.
This criterion asks how the issuer or ecosystem earns and whether any of that income is impermissible. edgeX earns trading fees on perpetual futures, and its eLP vault earns from market making and liquidation fees. Futures, perpetuals and margin trading fail under AAOIFI Shari’ah Standard 20 as deferred exchange without delivery, usually with leverage. Since EDGE stakers share in these fees, the criterion fails.
Only 35% of supply circulates, insider control is alleged, and team profiles are not verifiable.
Gharar is excessive uncertainty or hidden information. The allocation is published, but 65% of supply is locked for future release, and after the June 2026 crash an on-chain investigator alleged that a few insiders controlled a low float. CryptoUmmah notes unverifiable co-founder profiles and inconsistent tokenomics disclosures. These concrete uncertainties put the criterion at caution, at the low end.
EDGE is used to govern and stake on a derivatives exchange.
This criterion looks at what the asset is actually used for. EDGE is used to vote on fees and listings for a perpetual futures exchange and to stake for a share of its fee rewards; ecosystem incentives also serve that exchange. With its uses centred on an impermissible activity, the criterion fails.
EDGE itself can be bought spot with full payment and held in self-custody.
This criterion asks whether the asset can be owned in a permissible way. EDGE trades spot on Bybit, Bitget, OKX, Coinbase Exchange and other venues and, as an ERC-20 token, can be held in self-custody. The criterion is at the maximum; the problems lie in what the token represents, not in how it can be held.
The June 2026 crash caused cascading liquidations for users, though edgeX offered refunds.
Maslahah weighs benefit against harm. On 2 June 2026 EDGE fell 71% in about an hour, triggering long liquidations on edgeX; the platform offered refunds of up to 100,000 USDC per affected user and a bounty to identify the sellers. Leveraged trading exposes users to such losses. With documented harm partly remedied, the criterion is at caution.
How you can use it
Tap a card for the ruling and sourcesEDGE can be bought spot with full payment and delivery, but the token is rated HARAM because its value and staking rewards come from leveraged derivatives trading, so holding it is not acceptable.
No exchange-traded fund or product holding EDGE was found in the sources collected. A product that held EDGE would be judged like spot; its structure would need checking.
EDGE is not used as a means of payment. Tier-1 bodies such as Indonesia's MUI rule that using cryptocurrency as currency is not permissible.
Staking EDGE with validators earns a share of protocol rewards derived from transaction fees on leveraged perpetual futures, so the return comes from an impermissible activity.
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.
Lending EDGE through exchange or DeFi lending programmes pays depositors interest from borrowers. This is riba.
edgeX’s eLP vault earns from market making and liquidation fees on perpetual futures, and other EDGE yield products rely on lending; 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.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.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.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
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