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Biconomy

Biconomy (BICO)

AI Assisted Shariah Verdict
Last Update: 8/3/2026
Halal

SUMMARY

Biconomy (BICO) is a Web3 developer infrastructure platform providing neutral tools like Account Abstraction and paymasters. The token has permissible utility in network-security staking and governance, and the protocol's revenue from bundler and paymaster fees is free from identified Shariah-problematic sources.

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Verdict by Activity

How you can hold and use BICO

Buy & Hold

Halal

The project provides neutral Web3 infrastructure with no haram business activities, and the token has permissible utility in staking and governance.

Node Operator Delegation

Optional
Halal

Users delegate BICO to node operators to secure the orchestration layer, earning rewards that are partially funded by inflation.

Biconomy Loyalty Program

Optional
Halal

Users can stake BICO in the loyalty program to earn ecosystem airdrops.

Shariah Component Breakdown

Shariah Analysis

Infrastructure — where it runs

Passed

The asset operates on Ethereum and supports multiple EVM chains (Polygon, Arbitrum, Optimism, Base), which are neutral, general-purpose networks.

Application — what it does

Passed

Biconomy provides Web3 developer infrastructure and APIs (Account Abstraction, paymasters, bundlers) to simplify user experiences. There is no exposure to riba, maisir, or haram industries.

Asset — what you own

Passed

BICO is used for network-security staking (delegating to node operators) and governance, which are permissible utilities. Staking rewards are partially funded by inflation.

Property Status (Māl)

Passed

BICO is an established native protocol position on Ethereum with self-custody, fixed or rule-based minting, and genuine lawful use for staking and governance.

Revenue Purity

Passed

The protocol generates revenue from Paymaster and Bundler fees with no Shariah-problematic sources identified. Treasury composition and banking details regarding interest are not publicly disclosed.

Legitimacy & Security

whitepaper

Passed

Official documentation and tokenomics information are publicly available.

social presence

Passed

The project is trusted by major industry players including Trust Wallet, dYdX, JP Morgan, and Mercedes-Benz.

project audits

Passed

The protocol is battle-tested and audit or security information was found.

Team & Ecosystem

team background

Passed

The team's identity is confirmed and they have successfully built a widely adopted infrastructure platform.

Detailed Shariah Report

Overview

Biconomy (BICO) is a Web3 developer infrastructure platform that provides tools like Account Abstraction, paymasters, and bundlers to simplify user experiences, such as enabling gasless transactions and cross-chain interactions. The BICO token is a native protocol asset used for network-security staking, participating in governance, and earning ecosystem rewards.

Why This Verdict

The Halal verdict is based on a three-layer Shariah evaluation covering the underlying infrastructure, the application, and the asset itself, where a failure at any one layer fails the whole asset. First, Biconomy operates on Ethereum and supports multiple other EVM chains like Polygon, Arbitrum, Optimism, and Base. These are neutral, general-purpose networks, and hosting other people's applications does not taint the native asset. Second, the application provides permissible developer tools without engaging in interest-based lending (riba) or gambling (maisir). Third, the BICO token qualifies as recognized digital property (Mal) because it represents an exclusive, protocol-recognized right of control that presently exists on-chain, has an ascertainable supply, is transferable via self-custody, and carries genuine lawful utility. It is treated as wealth by a body of people and can be held and preserved. Regarding specific activities: 1. Holding: Purchasing and holding BICO is Halal because the protocol's core business—charging fees for paymaster and bundler services—is free from Shariah-problematic sources. 2. Node Operator Delegation (Opt-in): This staking mechanism is Halal. Users delegate BICO to node operators to secure the orchestration layer, earning rewards that are partially funded by token inflation. 3. Biconomy Loyalty Program (Opt-in): This feature is Halal, allowing users to stake BICO to earn permissible ecosystem airdrops.

Permissible Aspects

  • The protocol provides neutral developer infrastructure, specifically Account Abstraction, paymasters, and bundlers, to improve Web3 user experiences by enabling gasless transactions and cross-chain interactions.
  • Revenue is generated through permissible means, specifically charging subscription fees or per-transaction margins for Paymaster and Bundler services, with no exposure to haram industries.
  • The BICO token has genuine utility in network governance and securing the orchestration layer through node operator delegation.
  • Staking rewards and loyalty program airdrops are derived from permissible sources, including token inflation and ecosystem incentives, rather than interest-bearing lending.

Points of Caution

  • !The composition of the project's treasury and its banking details are not publicly disclosed. It is unknown if the foundation earns interest on its fiat or stablecoin reserves. However, because these funds do not flow to token holders, this does not affect the Shariah ruling on holding the token itself, though scrupulous investors may wish to monitor it.

Purification Note

Not applicable. The protocol's revenue comes from permissible infrastructure fees, and no impure income streams have been identified that flow to token holders. Therefore, simply holding or using the BICO token requires no purification.

BOTTOM LINE

Biconomy is a permissible Web3 infrastructure project that simplifies blockchain interactions without relying on prohibited financial practices like riba or maisir. Both holding the BICO token and participating in its opt-in staking and loyalty programs are considered Halal, as the token represents recognized digital property with genuine utility. As always, Muslim investors should conduct their own due diligence, noting that final religious authority rests with a qualified Shariah scholar.

How this verdict was reached

This is not an opinion issued by ShariaQuant. It is the output of a documented screening methodology applied to researched facts about Biconomy (BICO), and every row above states the specific evidence that drove it — so the reasoning can be examined rather than taken on trust.

The framework screens three layers — the infrastructure an asset runs on, the application it serves, and the asset itself — and separately tests whether the token qualifies as recognised property (māl): that it presently exists, has an ascertainable supply, can be held and transferred, and carries a genuine lawful use. A failure at any single layer fails the asset.

Revenue-purity thresholds follow the AAOIFI screening standard: non-compliant income below 5% of revenue is tolerated and purified, while 5% or above fails the screen.

AAOIFI has not reviewed, approved or endorsed this report or ShariaQuant, and no scholar named in our methodology has reviewed this individual verdict. This is analysis, not a fatwa — final religious authority rests with a qualified scholar.