SOON
SOON#140SOON builds rollups that run the Solana Virtual Machine on other chains, starting with an Ethereum layer 2; SOON is its governance and staking token.
- Market cap
- $221.94M
- Volume 24h
- $74.75M
- All-time high
- —
- Circulating supply
- 602.51M
Passes our 8 Shariah criteria. Needs caution: interest (riba).
- 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 SOON?8 Shariah criteria
7 pass · 1 caution · 0 failHolding SOON pays nothing, but staking pays a fixed 3% annual inflation reward, and liquid gSOON lets holders earn it passively.
Riba is interest or any guaranteed increase on a loan. SOON documentation says validators who stake SOON for security receive an annual 3% token incentive; CryptoUmmah, the first authoritative source that rates SOON, finds that native staking issues liquid gSOON and that rewards come from this fixed inflation rather than from performance, which it compares to a guaranteed increment. A reward for securing a network is not interest in itself, but a fixed rate earned passively through a liquid token is close to it, so the criterion is at caution, in line with the source.
SOON is the governance, incentive and staking token of working rollup infrastructure.
This criterion asks whether the asset has real value as property (mal). SOON is used to vote on protocol upgrades and treasury use, to reward builders and to stake for network security. CryptoUmmah's doubt concerns staking rewards, not the token's nature, so with no coin-specific weakness the criterion is at the maximum.
SOON has no chance-based payout or meme mechanics; it is infrastructure.
Maysir is gambling: gaining or losing by chance rather than through productive exchange. SOON is a rollup token with governance and staking functions and no lottery, game or meme design. Market volatility and the suspected manipulation episode behind SIP-1 are market conduct, not a feature of the token, so the criterion is at the maximum.
No lending or interest income is documented; SOON is funded by token allocations and its NFT raise.
This criterion asks how the issuer earns and whether any of that income is impermissible. SOON sells rollup infrastructure and funds development from its ecosystem and foundation allocations and a $22 million NFT raise. CryptoUmmah finds no interest-bearing treasury or lending in the base protocol; a lending app built by a third party on SOON is not the protocol's own business. No impermissible income is documented, so the criterion is at the maximum.
Allocation and locked wallets are published and the CEO is named, but supply figures differ across sources and the audit cannot be verified.
Gharar is excessive uncertainty or hidden information. SOON publishes its allocation, a 3% inflation rule and its major token wallets, which it says are locked by smart contract, and its CEO is named. But CoinGecko's total supply (about 11.0 billion) does not match the 1 billion initial supply in the documentation, and the referenced BEOSIN audit has no public date or findings. These lower the score within pass.
SOON is used for governance, incentives and staking on SVM rollups.
This criterion looks at what the asset is actually used for. SOON is used on SOON Mainnet and SOON Stack chains for governance, staking and builder rewards. No dominant impermissible use is documented, so the criterion is at the maximum.
Fully paid spot SOON is available on exchanges and can be held in self-custody.
This criterion asks whether the asset can be owned in a permissible way. SOON trades spot with full payment and delivery and can be held in self-custody on Solana, BNB Chain or Base. Ownership does not depend on derivatives or leverage, so the criterion is at the maximum.
SOON offers open scaling infrastructure; no fraud or hack involving SOON is documented.
Maslahah weighs benefit against harm. SOON provides scaling infrastructure for apps on several chains and published its token wallets for transparency. The foundation responded to a suspected market manipulation episode by burning 30 million SOON. No source collected documents fraud or a hack by the project, so the criterion is at the maximum.
How you can use it
Tap a card for the ruling and sourcesBuying SOON with full payment and immediate delivery is available, and the tokens can be moved to a self-custody wallet. This is the clean way to own a HALAL-rated asset.
No SOON exchange-traded fund was found as of 1 October 2026. A fund that holds SOON itself and does not lend it would be judged like spot.
SOON is not used as general money. Tier-1 bodies such as Indonesia's MUI rule that using cryptocurrency as currency is not permissible.
Running a validator that secures the network earns a 3% annual token incentive, a reward for work. Holding liquid gSOON to earn the same fixed rate passively is close to interest; CryptoUmmah treats this as its main concern.
Margin trading in SOON is offered by some exchanges but is never acceptable: it is a deferred exchange with borrowed money and leverage (AAOIFI SS 20).
SOON perpetual futures are offered on several exchanges, but futures, perpetuals and options always fail under AAOIFI SS 20: deferred exchange without delivery, usually with leverage.
Lending SOON through exchange or DeFi lending programmes pays depositors interest from borrowers. This is riba.
Yield products on SOON outside validator staking get their return from lending or similar interest-like sources and fail.
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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