Sun [New]
SUN#109SUN is the governance token of SUN.io, a group of trading and stablecoin-swap services on the TRON blockchain.
- Market cap
- $327.74M
- Volume 24h
- $15M
- All-time high
- —
- Circulating supply
- 19.22B of 19.9B
Does not clear all 8 Shariah criteria. Needs caution: interest (riba), nature of the asset, gambling (maysir), business model, and excessive uncertainty (gharar).
- 3 pass
- 5 caution
- 0 fail
Verdict history
- DoubtfulCurrent
First publication
Fundamentals, market picture and news will appear here.
Halal analysis
Can a Muslim hold Sun [New]?8 Shariah criteria
3 pass · 5 caution · 0 failSUN pays no interest and veSUN rewards come from trading fees, but Sharlife failed SUN over a mining section that promoted JUST's lending protocol, and whether that link was fully removed is not documented.
Riba means interest or any guaranteed increase on a loan. Holding SUN pays nothing by itself. Locking it as veSUN earns 50% of each week's stablecoin pool fees and a boost to liquidity-mining rewards; swap fees are payment for a service, not interest. Sharlife, the first authoritative source to rate SUN, calls it impermissible because a 'Century mining' section of the platform promoted staking rewards from the JUST lending protocol, and CryptoUmmah names the same JustLend link as its biggest concern.
The current SUN.io docs list no lending product, but no source confirms that every link to interest-based lending has ended, so the criterion stays at caution in line with the authoritative source.
SUN governs a large working exchange, but part of the value it captures comes from meme-token launches and perpetual futures, and the authoritative source rates it impermissible.
Mal is property that Islamic law recognises as having value and that can be owned and traded. SUN is not an empty record: SunSwap held about $540 million across its versions on 1 October 2026 (DefiLlama), and SUN votes on pool rewards and governance. But a coin-specific limit remains: much of the value SUN captures through buybacks comes from SunPump, a meme-token launch platform, and SunX, a perpetual futures platform. Sharlife rates SUN impermissible and CryptoUmmah doubtful, so the criterion stays at caution.
The general disagreement among tier-1 bodies about cryptocurrency is reflected in confidence, not in this score.
SUN's buybacks are fed by a meme-token launch platform and a perpetual futures platform, and most SUN trading volume is in futures.
Maysir is gambling: winning or losing by chance rather than through productive exchange. Ordinary price swings are not maysir. The concern here is the token's own value mechanics: 100% of SunPump revenue, a platform for launching new, mostly speculative tokens, goes to SUN buybacks, and SunPump accounted for about 286 million of the 678.5 million SUN burned by July 2026. Half of SunX's net revenue, from perpetual futures, also funds buybacks. On 1 October 2026 futures were about 70% of SUN volume on Binance and Bybit combined (single-day snapshot).
CryptoUmmah scores SUN's maysir risk at 51.4/100 for the same reasons, so the criterion is caution.
Most revenue is exchange fees, but buybacks are also funded by all SunPump launch revenue and half of SunX perpetual futures revenue.
This criterion asks how the protocol earns and whether its income is permissible. SunSwap's swap fees are service fees, and DefiLlama counted about $9.36 million of SunSwap V3 and $3.94 million of SunSwap V2 fees over the year to 1 October 2026. Two revenue streams that pass value to SUN holders are a problem: SunPump, a meme-token launch platform, sends 100% of its revenue to buybacks (about $424,610 over the year, by DefiLlama), and SunX, a perpetual futures platform, sends 50% of its net revenue. Perpetual futures are impermissible, and SunPump was the second-largest source of burned SUN.
SunX's share of burns so far is small (about 10.7 million of 678.5 million SUN), and no breakdown of total income by source was found. Impermissible revenue is shown to exist while its share is unclear, so the criterion is caution near its lower edge.
Supply and burns are on-chain, but only an old audit of the first version is cited, treasury details are not disclosed and the token allocation was not found.
Gharar is excessive uncertainty or hidden information in a deal. Some things are clear: the contract supply of 19,900,730,000 SUN is visible on Tronscan, burns go to the TRON black-hole address, and buyback sources and ratios are published in the docs. Other things are not. CryptoUmmah, which reviewed SUN in July 2026, found only a 2020 SlowMist audit covering V1, no audits for later contracts or newer products, and undisclosed treasury details; the SUN V3 whitepaper could not be read and no token allocation was found in the docs.
The ecosystem is closely tied to TRON founder Justin Sun, whose SEC case over TRX and BTT (SUN was not named) moved to a proposed settlement in March 2026. These are concrete transparency gaps, so the criterion is caution.
SUN is used mainly to govern and reward liquidity on a token exchange; meme-token launches and perpetual futures are side products.
This criterion looks at what the asset is actually used for. SUN's main uses are voting on pool mining weights and SUN DAO proposals, boosting liquidity-mining rewards and receiving a share of stablecoin pool fees through veSUN. These serve SunSwap and the stablecoin swaps, which are ordinary exchange services. SunPump and SunX are part of the same platform but are not SUN's main purpose, so the status is pass, lowered within the band because the token's buybacks still promote them.
Fully paid spot SUN is available on major exchanges and can be held in one's own TRON wallet.
This criterion asks whether the asset can be owned in a permissible way. SUN trades spot with full payment and delivery, for example on Binance and Bybit SUN/USDT pairs, and as a TRC-20 token it can be withdrawn to a self-custody TRON wallet. Ownership does not depend on derivatives or leveraged wrappers, so the criterion gets the maximum score.
SunSwap is a widely used exchange on TRON; the harms found are already counted under gambling and business model.
Maslahah weighs public benefit against harm. SunSwap is one of the main exchanges on TRON, with about $1.30 billion of volume in the 30 days to 1 October 2026, and its V4 upgrade cut transaction costs. The harms identified, meme-token launches and perpetual futures, are counted under maysir and business model, not again here. No fraud or sanctions finding specific to SUN was found, so the criterion gets the maximum score.
How you can use it
Tap a card for the ruling and sourcesBuying SUN with full payment and immediate delivery is available on major exchanges, and tokens can be moved to a self-custody TRON wallet. Spot is acceptable for a DOUBTFUL-rated asset, with caution.
No exchange-traded fund holding SUN was identified in this review. Any fund offered later must be checked separately for lending of the token and interest income.
SUN is a governance token and is not used as a means of payment in practice. Tier-1 bodies such as Indonesia's MUI rule that using cryptocurrency as currency is not permissible.
SUN has no network staking: it does not validate the TRON blockchain. Locking SUN as veSUN earns a share of stablecoin pool trading fees and boosts mining rewards, which are not interest, but the reward sources should be checked as they change.
Margin trading in SUN is never acceptable: it is a deferred exchange with borrowed money and leverage (AAOIFI SS 20).
SUN perpetual futures trade on Binance and Bybit and made up most of its volume in a 1 October 2026 snapshot, but futures, perpetuals and options always fail under AAOIFI SS 20: deferred exchange without delivery, usually with leverage.
Lending SUN on lending protocols or through exchange lending programmes pays depositors interest from borrowers. This is riba.
SUN yield products built on lending, leverage or basis trading pay interest or interest-like returns and fail. Liquidity-mining rewards on SunSwap come from token emissions and fees and must be checked pool by pool.
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 itOverall the products offered in the protocol are neutralAs 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
Similar halal assets
Halal verdict, same category
