Kaspa

Holding KAS pays nothing; new coins go only to miners as payment for proof-of-work, and there is no staking.

Riba means interest or any guaranteed increase on a loan. Simply holding KAS earns nothing. Kaspa is proof-of-work: new KAS is created only as the block reward, which goes with transaction fees to the miner who produces a block. The reward is payment for real work (computing power and electricity) and is never guaranteed. There is no staking, no delegation and no protocol treasury, and Islamic Finance Guru (IFG) rates KAS permissible, so the criterion gets the maximum score. Interest on lending platforms around KAS is judged under trading mechanisms, not as a feature of the coin.

Kaspa is a working, fair-launched network and KAS has a clear role, but official religious bodies disagree on whether cryptocurrency is property (mal).

Mal is property that Islamic law recognises as having value and that can be owned and traded. Kaspa clearly works: it has produced blocks since November 2021, runs at 10 blocks per second since May 2025, and KAS is needed to pay fees and is the only reward for securing the network. It launched with no premine. Islamic Finance Guru (IFG), the first authoritative source in Liberandum's list, rates KAS permissible (with reasoning similar to Polkadot), and CryptoUmmah agrees.

KAS is not a gambling token, but perpetual futures trade about twice as much as spot at the venues we sampled.

Maysir is gambling: winning or losing by chance rather than through productive exchange. Ordinary price swings are not maysir, KAS has no chance-based payout, and it pays fees and rewards the miners who secure a working network. The score is lowered within the pass band because derivatives lead trading: on 27 September 2026, KASUSDT perpetual futures on Binance and Bybit turned over about $40 million in 24 hours, against about $21 million of spot trading on Bybit, Gate, KuCoin and Kraken, about 1.9 times more (a single-day snapshot that does not cover every venue).

There is no issuer earning from KAS: rewards and fees go to miners, and no treasury takes a share of issuance.

This criterion asks how the issuer or protocol earns, and whether any of that income is impermissible. Kaspa has no issuing company. The protocol pays the whole block reward and all transaction fees to the miner who produces the block, which is a service fee for processing transactions. The coin launched with no premine or allocation, and development is funded by community grants. No impermissible income was found, so the criterion gets the maximum score; the lack of audited accounts for community funds is recorded as a data gap.

Supply rules and code are public and enforced by the network, though mining runs through large pools and hard forks come often.

Gharar is excessive uncertainty or hidden information in a deal. Kaspa's supply rules are fixed in open-source code: a cap of about 28.7 billion KAS, of which 96.6% was already mined on 27 September 2026, and a reward that halves every year. No one can mint coins outside this schedule, and protocol changes are public proposals (KIPs) on GitHub.

KAS is used to send value and pay network fees; lending and token speculation exist on layers built on top, but they are not its main use.

This criterion looks at what the network is actually used for. Kaspa's base layer is built for fast peer-to-peer transfers of KAS, and since June 2026 covenants allow tokens and other applications directly on the base layer. The score is lowered slightly for a concrete impermissible use nearby: the Igra layer, launched in March 2026, includes Kaskad, an interest-based lending market in the style of Aave. It is not shown to be a main use of the network, and its size was not measured.

Fully paid spot KAS is available on several exchanges and can be held in one's own wallet.

This criterion asks whether the asset can be owned in a permissible way. KAS trades spot, with full payment and delivery, on exchanges such as Bybit, Gate, KuCoin and Kraken, it can be withdrawn to a self-custody wallet, and it can be earned directly by mining. Binance offers only perpetual futures and OKX does not list KAS, but ownership does not depend on derivatives or leveraged wrappers, so the criterion gets the maximum score.

Kaspa offers an open, fairly launched payment network; mining uses energy, but no dominant misuse was found.

Maslahah weighs public benefit against harm. The benefit is an open payment network that anyone can use or mine, launched without insiders receiving coins. The score is lowered slightly for concrete costs: proof-of-work mining uses electricity (about 360 PH/s on 27 September 2026, mostly on dedicated ASIC machines), and mining runs through a few large pools. No evidence was found that Kaspa is mainly used for fraud or sanctions evasion.