Coin verdict · DeFi / stablecoin · Updated 2026-04-26
MakerDAO mints DAI, an over-collateralised stablecoin, and operates the Maker Protocol. MKR is the governance token. The protocol charges Stability Fees (interest) on DAI minted against collateral, and earns yield on collateral parked in real-world-asset (RWA) Treasury exposures. Per our framework, primary protocol revenue is interest income (riba), so MKR is excluded.
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Per AAOIFI-aligned framework, our screening shows: Per AAOIFI-aligned framework, our screening excludes MKR — primary protocol revenue is interest income (riba).
Our framework uses an AAOIFI-aligned methodology, with Saudi Permanent Committee for Scholarly Research and Ifta and public Islamic-finance references.
MakerDAO's primary protocol revenue is Stability Fees (a borrowing interest rate) and RWA Treasury yield (US Treasury interest). Both are structurally riba.
Asset specifications, supply schedule, and on-chain settlement are publicly verifiable. Spot ownership transfers cleanly with no embedded contingent payoffs.
Spot purchase is direct ownership of a defined asset, not a wager. Our bot never places leverage, futures, perpetuals, options, or margin trades — eliminating the maysir vector at execution.
Stablecoin minting via interest-bearing collateral and US Treasury exposure — structural riba.
MKR has sufficient liquidity, but liquidity does not rescue structural riba exposure.
Per AAOIFI-aligned framework, our screening excludes MKR — primary protocol revenue is interest income (riba).
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Per AAOIFI-aligned framework, our screening excludes MKR — primary protocol revenue is interest income (riba).
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Per AAOIFI-aligned framework, our screening excludes MKR. Protocol revenue is interest income (riba).
DAI is a separate screening — backing collateral matters. Many subscribers choose to avoid DAI for the same reason MKR is excluded.
Primary protocol revenue is Stability Fees (interest) and Treasury yield.
None. Excluded.
Only if the protocol's revenue model changes structurally.
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Last updated 2026-04-26; Author: HalalCrypto Research Team. Information only — not financial or Shariah advice. Make your own taqlid choice.