Sonic
S#186Sonic is a fast EVM layer-1 blockchain, the successor of Fantom; S pays fees, is staked with validators and is used in governance.
- Market cap
- $109.96M
- Volume 24h
- $14.36M
- All-time high
- —
- Circulating supply
- 2.88B
Passes our 8 Shariah criteria. Needs caution: excessive uncertainty (gharar).
- 7 pass
- 1 caution
- 0 fail
Verdict history
- HalalCurrent
First publication
Fundamentals, market picture and news will appear here.
Halal analysis
Can a Muslim hold Sonic?8 Shariah criteria
7 pass · 1 caution · 0 failStaking rewards are variable pay for validation, and delegators share validator risk.
Riba is interest or any guaranteed increase on a loan. Holding S pays nothing. Validator rewards vary with the share of S staked (3.5% at 50% staked) and with gas fees, and the documentation warns that a delegated stake can be affected if the validator is penalised. This is reward for securing the network with real risk, not a loan return. CryptoUmmah scores riba 85/100 and finds no interest-based income at the base protocol. The criterion is at the maximum.
S is the native token of a working layer-1 blockchain.
This criterion asks whether the asset has real value as property (mal). S pays for transactions, secures the network through staking and gives governance votes. CryptoUmmah, the first authoritative source that rates Sonic, calls its utility genuine and rates it halal. The criterion is at the maximum.
S has no gambling mechanics, and Sonic says it will not endorse memecoins.
Maysir is gambling: gaining or losing by chance rather than through productive exchange. S is a utility token with no lottery or betting in its design. Sonic’s CEO wrote in September 2026 that the network will not endorse memecoins or provide liquidity for them. The planned prediction-market infrastructure is weighed under business model. The criterion is at the maximum.
The network earns gas fees, but the company also plans debt-based and prediction-market products.
This criterion asks how the ecosystem earns and whether that income is impermissible. The chain earns gas fees and shares them with validators and developers, which is permissible. Two concrete points lower the score: Sonic’s September 2026 update describes Nummo, which uses USSD as a debt asset for borrowing and leveraged strategies, and infrastructure licensed to prediction-market platforms. CryptoUmmah found that such products had earned only around $13,000. They are small and separate from the token, so the criterion stays at pass.
Supply was expanded by governance in 2025, leadership changed in 2026 and audit coverage is thin.
Gharar is excessive uncertainty or hidden information. Token rules are documented and on-chain. Concrete concerns: about 472 million S were issued in September 2025 for a U.S. expansion, and an independent audit of the S supply is still under way; management was replaced in June 2026; and CryptoUmmah found only one third-party audit, rated poor, and a 500,000 S validator threshold that concentrates validation. The new CEO has cancelled all manual mints. The criterion is at caution, at the top of the band.
S is used for gas, staking and governance on a general-purpose network.
This criterion looks at what the asset is actually used for. S pays for any kind of transaction on a general-purpose chain; applications built on it by third parties are judged separately. No use centred on an impermissible activity was found, so the criterion is at the maximum.
Fully paid spot S is widely available and can be held in self-custody.
This criterion asks whether the asset can be owned in a permissible way. S trades spot with full payment and delivery on major exchanges and can be held in a self-custody wallet on the Sonic network. The criterion is at the maximum.
Sonic provides fast, cheap infrastructure; no fraud or documented harm to holders was found.
Maslahah weighs benefit against harm. Sonic offers fast settlement and pays developers a share of fees. The migration from Fantom was a 1:1 exchange with no loss to holders, and no fraud or hack of the base protocol was found in the sources collected. The criterion is at the maximum.
How you can use it
Tap a card for the ruling and sourcesBuying S with full payment and immediate delivery is widely available on exchanges, and the tokens can be moved to a self-custody wallet.
No exchange-traded fund or product holding S was found in the sources collected. A product that held S would be judged like spot; its structure would need checking.
S pays transaction fees on Sonic. Using it for permissible transactions is acceptable; tier-1 bodies such as Indonesia’s MUI reject crypto as general currency.
Staking S with a validator earns a variable share of block rewards and fees for securing the network, with a 14-day withdrawal wait and a risk of loss if the validator is penalised. It is not a loan.
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 S through exchange or DeFi lending programmes pays depositors interest from borrowers. This is riba.
Native staking is acceptable, but lending markets, leveraged strategies and other yield products built on Sonic get their return from lending and fail. Check the source of return of each product.
Scholars quotes
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.As 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.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.Our current position is 'tawaquf'; we can't say it is halal or haram, but we say it is better not to engage in itAI-assisted analysis checked against sources. Not a fatwa or investment advice.
Where it trades
Section in preparation
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