Coin verdict · DeFi / Solana AMM · Updated 2026-04-26
Raydium is a Solana AMM and liquidity provider for Serum's central-limit order book, launched in 2021. RAY is the staking and governance token. The protocol's economic activity is the same standard AMM exclusion category: facilitating swaps of riba-bearing tokens, providing LP positions with impermanent-loss exposure, and capturing fees that flow to RAY stakers. The integration with Solana memecoin launches adds a sector concern around speculative structures.
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Per AAOIFI-aligned framework, our screening shows: Per AAOIFI-aligned framework, our screening shows RAY is excluded.
Our framework uses an AAOIFI-aligned methodology, with Saudi Permanent Committee for Scholarly Research and Ifta and public Islamic-finance references.
RAY staking captures fees from AMM pools that include riba-bearing tokens.
AMM LP positions involve impermanent loss.
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.
AMM economics include riba-bearing instruments; protocol is heavily integrated with memecoin launches that themselves are typically excluded.
RAY has acceptable liquidity on tier-1 venues.
Per AAOIFI-aligned framework, our screening shows RAY is excluded.
Current screener verdict
Per AAOIFI-aligned framework, our screening shows RAY is excluded.
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Per AAOIFI-aligned framework, RAY is excluded. AMM economics plus heavy memecoin-launchpad integration fail multiple gates.
SOL is screened separately and reaches a permissible-with-caveats verdict.
Memecoins are typically excluded as structural maysir; protocols whose primary revenue is launching memecoins inherit that exposure.
None. RAY is excluded.
AMM LP positions are excluded under our framework.
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The full Shariah picture — riba, gharar, maysir, and how spot trading earns a permissive verdict.
Last updated 2026-04-26; Author: HalalCrypto Research Team. Information only — not financial or Shariah advice. Make your own taqlid choice.