Vision
VSN#158Vision (VSN) is the token of the Bitpanda Web3 ecosystem, used for staking, governance, fee discounts and launchpad access.
- Market cap
- $163.19M
- Volume 24h
- $2.57M
- All-time high
- —
- Circulating supply
- 3.67B of 4.2B
Does not clear all 8 Shariah criteria. Needs caution: interest (riba), nature of the asset, business model, and excessive uncertainty (gharar).
- 4 pass
- 4 caution
- 0 fail
Verdict history
- DoubtfulCurrent
First publication
Fundamentals, market picture and news will appear here.
Halal analysis
Can a Muslim hold Vision?8 Shariah criteria
4 pass · 4 caution · 0 failStaking pays passive holders newly minted VSN at a set annual rate, without any network work.
Riba is interest or any guaranteed increase on a loan. VSN staking does not secure a network: the protocol mints new VSN each quarter and gives it to active stakers, at a rate Bitpanda describes as starting at 5% a year and up to 10% APY. This is a near-fixed passive return. CryptoUmmah scores riba 54.6/100. Holding VSN without staking pays nothing, which keeps the criterion at caution rather than fail.
VSN has real uses, but its main benefits are loyalty perks that Bitpanda can change.
This criterion asks whether the asset has real value as property (mal). VSN gives governance votes, staking and access to Bitpanda products. But the Vision Paper says loyalty benefits such as fee discounts are governed by Bitpanda product terms, are not inherent VSN functions and can be amended or ended. CryptoUmmah, the first authoritative source that rates it, finds it doubtful. This coin-specific dependence puts the criterion at caution.
VSN is not a game of chance, but it carries airdrop leaderboards and speculative launchpad access.
Maysir is gambling: gaining or losing by chance rather than through productive exchange. VSN is a utility token. Staking boosts XP for airdrop leaderboards and gives early access to launchpad rounds, which add speculation. CryptoUmmah scores maysir 54.2/100. The criterion stays at pass, below the maximum.
Foundation revenue that funds rewards and repurchases includes performance fees on Earn products, whose share is not disclosed.
This criterion asks how the issuer or ecosystem earns and whether that income is impermissible. The Vision Paper lists swap fees and performance fees on Earn products, protocol fees and Vision Chain liquidity fees as revenue flowing to the Foundation, and the Vision Wallet offers lending and passive earning. Earn and lending products are interest-like, but their share of revenue is not disclosed, so the criterion is at caution.
The Foundation controls supply, emissions and fee use at its sole discretion, and no protocol audit is published.
Gharar is excessive uncertainty or hidden information. The Foundation issues and manages VSN supply, mints staking emissions, and states that revenue use is at its sole discretion and creates no enforceable claim. CryptoUmmah found no security audit naming a firm and date for the protocol and scores gharar 44.7/100. The criterion is at caution.
VSN is used for fee discounts, governance, staking and launchpad access in the Bitpanda ecosystem.
This criterion looks at what the asset is actually used for. VSN pays trading fees at a discount, votes on emissions and upgrades, and gives access to launchpad projects. These uses are permissible; the interest-like staking reward is counted under riba. The criterion is at the maximum.
Fully paid spot VSN is available on Bitpanda and other exchanges and can be held in self-custody.
This criterion asks whether the asset can be owned in a permissible way. VSN trades spot with full payment and delivery and, as an ERC-20 token, can be held in self-custody. The criterion is at the maximum.
Bitpanda Web3 makes on-chain tools easier to use, but emissions dilute non-stakers.
Maslahah weighs benefit against harm. The Vision Wallet and protocol aim to make Web3 easier for ordinary users. CryptoUmmah cites team commentary that about $60M per quarter in new tokens outpaces fee collection, which dilutes holders who do not stake. No fraud or hack involving VSN was found. The criterion is at pass, below the maximum.
How you can use it
Tap a card for the ruling and sourcesBuying VSN with full payment and immediate delivery is available on Bitpanda and other exchanges, and the tokens can be held in self-custody. VSN is doubtful: avoid the interest-like staking reward.
No exchange-traded fund or product holding VSN was found in the sources collected. A product that held VSN would be judged like spot; its structure would need checking.
VSN can pay trading fees on Bitpanda at a discount and pay in partnered Web3 applications; paying for permissible services is acceptable.
VSN staking secures no network: it pays newly minted VSN to passive stakers at a set annual rate (described as 5% to 10%). This is a guaranteed-like return without work and fails.
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 VSN through exchange or DeFi lending programmes pays depositors interest from borrowers. This is riba.
Yield and Earn products on VSN get their return from emissions, lending or similar interest-like sources and fail.
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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