Meteora
MET#160Meteora runs liquidity pools and token-launch tools on Solana; MET, launched in October 2025, is its token.
- Market cap
- $160.78M
- Volume 24h
- $22.79M
- All-time high
- —
- Circulating supply
- 551.25M of 1B
Does not clear all 8 Shariah criteria. Needs caution: interest (riba), business model, and excessive uncertainty (gharar).
- 5 pass
- 3 caution
- 0 fail
Verdict history
- DoubtfulCurrent
First publication
Fundamentals, market picture and news will appear here.
Halal analysis
Can a Muslim hold Meteora?8 Shariah criteria
5 pass · 3 caution · 0 failMost income is trading fees, but Dynamic Vaults route idle liquidity into lending strategies that earn interest.
Riba is interest or any guaranteed increase on a loan. Meteora's core income is a share of swap fees, which is not interest. But its Dynamic Vaults allocate idle pool liquidity to external strategies so that assets may earn lending yield, and CryptoUmmah scores riba 37.5/100 for this. The share of protocol income from lending is not published. Sharlife lists Meteora as Grey; with interest-bearing activity proven but its share unknown, the criterion is at caution.
MET is the governance and value-accrual token of a working liquidity protocol.
This criterion asks whether the asset has real value as property (mal). MET is tied to a protocol with about $328 million locked and fee income, and Meteora runs MET buybacks. No coin-specific defect in the token's nature was found; the issues lie in how the protocol earns, assessed under riba and business model. The criterion is at the maximum.
MET is not a game of chance, but the protocol is closely tied to memecoin launches and trading.
Maysir is gambling: gaining or losing by chance rather than through productive exchange. MET itself is a protocol token, not a meme coin. But Meteora's launch pools and Dynamic Bonding Curve are widely used to launch new tokens, and CryptoUmmah cites leadership involvement in speculative launches. These ties keep the criterion below the maximum, within pass, since the token's own design is not a gamble.
Fee income is mixed: swap fees are permissible, but part comes from token-launch pools and lending yield.
This criterion asks how the issuer or ecosystem earns and whether any of that income is impermissible. Meteora takes 10–50% of trading fees across its pools. Launch pools carry higher protocol shares (20% in DLMM) and serve new-token launches that are often meme speculation, and Dynamic Vaults add lending yield. These income streams are concrete but their shares are not published, so the criterion is at caution.
An unresolved class action, a founder resignation and large team and reserve allocations add uncertainty.
Gharar is excessive uncertainty or hidden information. The tokenomics are published: 18% team and 34% Meteora Reserve vest over 72 months. But CryptoUmmah reports an active class-action lawsuit alleging a pump-and-dump scheme and the founder’s resignation in February 2025 amid the LIBRA scandal, and the sources of staking rewards are unclear. The code is open and audited. These concrete uncertainties put the criterion at caution.
MET is used for governance and trading; the protocol provides real liquidity services.
This criterion looks at what the asset is actually used for. MET is used for governance and is traded on major exchanges and in Meteora pools, and the protocol provides liquidity infrastructure used across Solana. Concerns about what the pools are used for are assessed under business model, so this criterion is at the maximum.
Fully paid spot MET is available on Binance, Upbit, OKX and DEX pools, and it can be self-custodied.
This criterion asks whether the asset can be owned in a permissible way. MET trades spot with full payment and delivery on major exchanges and in Solana pools, and as an SPL token it can be held in self-custody. The criterion is at the maximum.
The protocol provides useful liquidity, but alleged harm to traders in insider-run launches is unresolved.
Maslahah weighs benefit against harm. Meteora supplies liquidity and launch tools that many Solana projects use. CryptoUmmah reports a class-action lawsuit alleging a pump-and-dump scheme linked to launches on the platform; the allegations are unresolved, so the criterion stays at pass, below the maximum.
How you can use it
Tap a card for the ruling and sourcesBuying MET with full payment and immediate delivery is available on Binance, Upbit, OKX and Solana pools, and the tokens can be self-custodied. Spot is acceptable for a DOUBTFUL asset for those who follow the permissive view, given the lending and launch-pool concerns.
No exchange-traded fund or product holding MET was found in the sources collected. A product that held MET would be judged like spot; its structure would need checking.
MET 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.
Meteora reports MET staked, but MET secures no network and the source of staking rewards is not clearly published; rewards that come from lending yield would be riba. Check the source before staking.
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 MET through exchange or DeFi lending programmes pays depositors interest from borrowers. This is riba.
Providing liquidity in Meteora DLMM or DAMM v2 pools earns trading fees, a variable return that is not interest. Dynamic Vault and other products that add lending yield fail; check each pool’s yield sources.
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
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