Is Synthetix (SNX) halal?
Not halal
Best to avoid this one.
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Here's how we reached that verdict for the SNXUSDT spot pair on Binance, last checked 2026-06-06 (22 Dhul-Hijjah 1447 AH).
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Verdict reasoning
Haram — Synthetix; synthetic derivatives; Gharar excessive; Maysir elements
Citation: Gate M [AAOIFI SS-21 §3/3 — maysir prohibition]; Gate G [AAOIFI SS-21 §3/2 — gharar prohibition]
AAOIFI Analysis (Shariah Standard No. 21)
0 of 5 criteria met for SNX — expand for the breakdown.
AAOIFI Analysis (Shariah Standard No. 21)
0 of 5 criteria met for SNX — expand for the breakdown.
- ✗ Fail
Business model permissibility
The project's core economic activity must be permissible — no dominant revenue from prohibited sectors.
Derived from the published verdict (no per-gate record for this asset).
- ✗ Fail
Underlying asset (utility vs pure speculation)
The token must represent a defined, verifiable asset or utility rather than uncertainty traded for its own sake.
Derived from the published verdict (no per-gate record for this asset).
- ✗ Fail
Token sale structure (no riba)
Issuance and protocol mechanics must not embed an interest mechanism or riba-bearing lending yield.
Derived from the published verdict (no per-gate record for this asset).
- ✗ Fail
Governance (no gharar in operations)
Supply schedule, settlement, and decision-making must be transparent enough to exclude excessive contractual uncertainty.
Derived from the published verdict (no per-gate record for this asset).
- ✗ Fail
Use case (halal industry only)
The asset's dominant documented use must sit in permissible industries — no established haram-sector association.
Derived from the published verdict (no per-gate record for this asset).
HalalCrypto's framework is AAOIFI-aligned; we do not hold certification from any single body. Verdicts are educational opinion — consult your local scholar for binding rulings.
Documented scholar positions
Islamic Finance Guru (IFG) — composite scholar review
Rules impermissibleRuling date: 2023-09-01
These references are an editorial mapping of publicly published positions — not a per-coin fatwa issued for this asset. Consult your local scholar for binding rulings.
How to use this verdict
Step 1
Read the SNX verdict
Start with the current HalalCrypto verdict for Synthetix (SNX) and the recorded review date.
Step 2
Check the four gates
Review riba, gharar, maysir, and sector outcomes before relying on the headline status.
Step 3
Confirm the trading route
Use spot-only holding or trading context. Exclude leverage, futures, margin, staking yield, and lending routes.
Step 4
Re-screen before trading
Run SNX in the live screener before acting so stale or changed records are caught.
Halal alternatives to SNX
If you were considering Synthetix and want something HalalCrypto has already cleared, start with these.
- ApeCoinAPE
Halal — ApeCoin; ecosystem utility; no interest; gaming/metaverse
- AudiusAUDIO
Halal — Utility token for music streaming platform with fee-based model.
- Bitcoin CashBCH
Bitcoin Cash (BCH) is permissible for spot trading. Category: Payments / Bitcoin fork. Authority: Editorial mapping (PoW payments fork). The native token derives value from network utility (gas, settlement, staking, or service fees) with no protocol-level interest mechanism and no structural exposure to haram industries. HalalCrypto excludes staking yield, liquid-staking derivatives, futures, and margin from automated trading by policy regardless of the underlying spot verdict.
- CeloCELO
Halal — PoS mobile L1; fee-based; no interest mechanism
Explore more verdicts
Also halal
Cleared for spot holding under the same four-gate screen.
Also not halal
Fails at least one gate — best avoided for spot holding.
Common questions
- Is Synthetix (SNX) halal?
- Per HalalCrypto's AAOIFI-aligned screen, Synthetix (SNX) is not halal. Haram — Synthetix; synthetic derivatives; Gharar excessive; Maysir elements
- Can I hold SNX spot on Binance?
- Synthetix fails at least one of the four gates (riba, gharar, maysir, sector). HalalCrypto's screening pipeline blocks the asset from automated trading and recommends avoidance.
- How often is the SNX verdict refreshed?
- HalalCrypto re-screens every Binance spot symbol on a continuous schedule. The last review for Synthetix was 2026-06-06. Subscribe to verdict alerts to be notified the moment the status changes.
هذه العملة محرمة — لا نعرض إعلانات التداول على الأصول المحرمة
This asset is haram — we do not show trading ads for prohibited assets
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HalalCrypto publishes verdicts as educational opinion drawn from HalalCrypto's AAOIFI-aligned framework and screened public scholar references. Verdicts are not personal advice. Always consult your local scholar for binding rulings.