Virtuals Protocol
VIRTUAL#92VIRTUAL is the base token of Virtuals Protocol, a launchpad where people create AI agents and trade tokens tied to them.
- Market cap
- $507.56M
- Volume 24h
- $139.98M
- All-time high
- —
- Circulating supply
- 659M of 1B
Passes our 8 Shariah criteria. Needs caution: gambling (maysir), business model, usage, and benefit and harm (maslahah).
- 4 pass
- 4 caution
- 0 fail
Verdict history
- HalalCurrent
First publication
Fundamentals, market picture and news will appear here.
Halal analysis
Can a Muslim hold Virtuals Protocol?8 Shariah criteria
4 pass · 4 caution · 0 failVIRTUAL pays no interest, and the protocol has no lending function.
Riba is interest or any guaranteed increase on a loan. The protocol earns a share of a 1% fee on agent token trades and launch fees; it does not lend. Locking VIRTUAL as veVIRTUAL gives eligibility for airdrops of new agent tokens, not a return on a loan. Sharlife, the first authoritative source that rates Virtuals Protocol, marks it Grey, but CryptoUmmah finds no interest mechanism, so the criterion is at the maximum.
VIRTUAL is the working base pair and fee currency of a live platform.
Mal is property that Islamic law recognises as having value. VIRTUAL is needed to create agents, is the pair for agent token liquidity and is used to pay for services. That is a real function; the speculative character of the platform is assessed under gambling and business model, so this criterion is at the maximum.
VIRTUAL is the currency of a launchpad for speculative agent tokens traded on bonding curves.
Maysir is gambling: gaining or losing by chance rather than through productive exchange. Virtuals launches agent tokens on bonding curves where early buyers profit from later ones, and CryptoUmmah notes that many of these tokens lack substantive value; anti-sniper taxes and 60-day refunds limit some abuse. VIRTUAL itself is not a lottery, but its main demand comes from this speculative trading. Sharlife's Grey rating and CryptoUmmah's moderate maysir score (61.6) are consistent with caution.
Revenue is trading fees, but mostly from speculative agent tokens.
This criterion asks how the protocol earns. Virtuals takes 30% of a 1% fee on agent token trades plus launch fees, about $16.30 million over the past year according to DefiLlama. A fee for exchange is permissible in itself, and CryptoUmmah finds no interest. But the fees come mainly from trading tokens of agents whose value is often speculative, so the income depends on activity close to maysir. The criterion is at caution.
Supply is fixed and unlocked, but launch mechanics are complex and the treasury can release up to 10% a year.
Gharar is excessive uncertainty or hidden information. VIRTUAL supply is fixed at 1 billion, fully unlocked, and fee flows can be traced on-chain. The score is lowered within pass for concrete points: the DAO treasury holding 35% may release up to 10% a year for three years, and CryptoUmmah finds bonding-curve launches and limited treasury transparency create uncertainty for participants.
VIRTUAL is used mainly as the pair for trading agent tokens.
This criterion looks at what the asset is actually used for. VIRTUAL pays for agent creation and services, which is permissible, but its main use is as the liquidity pair for agent tokens, much of whose trading is speculative. Locking it as veVIRTUAL brings airdrops of new agent tokens. The criterion is at caution.
Fully paid spot VIRTUAL is widely available and can be held in a self-custody wallet.
This criterion asks whether the asset can be owned in a permissible way. VIRTUAL trades spot with full payment and delivery on exchanges and can be held in self-custody on Base, Ethereum and other networks. Ownership does not depend on derivatives or leverage, so the criterion is at the maximum.
The platform funds AI agent builders but also spreads low-value speculative tokens.
Maslahah weighs benefit against harm. Virtuals gives AI builders a way to raise funds and tools for agent commerce, and the 60-day module refunds holders if founders walk away. Against this, CryptoUmmah notes the proliferation of agent tokens without substantive value, and Decrypt reported revenue crashing as agent-token demand fell, leaving many retail holders with losses. The criterion is at caution.
How you can use it
Tap a card for the ruling and sourcesBuying VIRTUAL with full payment and immediate delivery is widely available, and the tokens can be moved to a self-custody wallet. Spot purchase and holding are acceptable at this verdict, but VIRTUAL's demand comes mainly from speculative agent tokens.
No VIRTUAL exchange-traded fund was found. A product that holds VIRTUAL itself would be judged like spot; its structure would need to be checked.
VIRTUAL is used to pay agent launch fees and services inside the platform. Using it as general money falls under Tier-1 positions such as Indonesia's MUI, which rules that using cryptocurrency as currency is not permissible.
VIRTUAL has no proof-of-stake validation. Locking it as veVIRTUAL gives eligibility for airdrops of up to 5% of new agent token supply, not a return on a loan, but the airdropped tokens are themselves often speculative.
Margin trading in VIRTUAL is offered by some exchanges but is never acceptable: it is a deferred exchange with borrowed money and leverage (AAOIFI SS 20).
VIRTUAL futures and perpetuals are offered by derivatives exchanges, but futures, perpetuals and options always fail under AAOIFI SS 20: deferred exchange without delivery, usually with leverage.
Lending VIRTUAL through exchange or DeFi lending programmes pays depositors interest from borrowers. This is riba.
Exchange 'earn' products and lending pools on VIRTUAL pay a return funded by lending interest; this is treated as interest whatever it is called.
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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