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Blast

Blast (BLAST)

AI Assisted Shariah Verdict
Last Update: 7/30/2026
Haram

SUMMARY

The BLAST token is deemed non-compliant (Haram) because the core business activity of the Blast network relies heavily on routing bridged stablecoins to interest-bearing protocols (MakerDAO) to generate yield. This constitutes a prohibited Riba-based mechanism at the foundation of the protocol's value proposition.

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Verdict by Activity

How you can hold and use BLAST

Buy & Hold

Haram

Holding the token is impermissible because the protocol's core business activity is fundamentally tied to generating and distributing interest (Riba) via external lending protocols.

Automatic BLAST Incentives

Doubtful

Holding BLAST automatically accrues inflation-funded incentives, which is a scholar-debated mechanism when applied automatically to all holders rather than being opt-in.

Native Stablecoin Yield

Haram

The network automatically routes bridged stablecoins to MakerDAO's on-chain T-Bill protocol to generate interest (Riba).

Native ETH Yield

Halal

Bridged ETH is automatically routed to Lido for Proof-of-Stake validation, which is a permissible service.

dApp Lending

Optional
Haram

Users can actively opt-in to lend BLAST on various ecosystem dApps to earn interest.

Shariah Component Breakdown

Shariah Analysis

Infrastructure — where it runs

Passed

The asset operates on Ethereum (L1), which serves as a neutral, general-purpose base layer.

Application — what it does

Failed

The core mechanic of the Blast network involves routing bridged stablecoins into MakerDAO's on-chain T-Bill protocol to provide a 5% interest yield, which is a prohibited Riba-based activity central to the protocol.

Asset — what you own

Caution

The token is used for governance and gas, but holding it automatically accrues inflation-funded incentives, which is a scholar-debated mechanism when not opt-in.

Property Status (Māl)

Caution

The token has genuine lawful use, exists on-chain, and is transferable, but the minting authority is discretionary and centralized.

Revenue Purity

Passed

The protocol's own revenue is derived entirely from L2 sequencer fees, with no non-compliant revenue share identified.

Legitimacy & Security

whitepaper

Passed

The project provides official documentation and tokenomics.

project audits

Passed

Security and proof system status information is available via L2Beat.

social presence

Caution

The network experienced a severe 97% drop in TVL and massive user exodus following its airdrop, indicating mercenary adoption and high risk.

Team & Ecosystem

team background

Caution

Not covered by research.

Detailed Shariah Report

Overview

Blast is an Ethereum Layer 2 network designed to reduce transaction fees by processing them off-chain, while uniquely routing bridged assets to external yield-generating protocols. The native BLAST token functions as a native protocol position used for governance, network incentives, and paying gas fees in certain contexts.

Why This Verdict

We evaluate crypto assets across three layers: the underlying infrastructure, the core application, and the asset itself; a failure at any layer renders the asset non-compliant. The infrastructure layer passes, as Blast operates on Ethereum, a neutral, general-purpose base layer. At the asset layer, the BLAST token qualifies as recognized digital property (Mal) because it exists on-chain, has an ascertainable supply, is transferable, and carries genuine lawful utility (gas and governance), representing a native protocol position rather than a claim on an issuer. However, the asset fails at the application layer. Simply buying and holding the BLAST token is deemed Haram because the protocol's core business activity fundamentally relies on an automated, Riba-based mechanism. Specifically, the network automatically routes bridged stablecoins (USDB) into MakerDAO's on-chain T-Bill protocol to generate a 5% interest yield. Because this prohibited lending activity is central to the network's value proposition, holding the token is impermissible. Beyond simply holding the token, the protocol features several specific mechanisms. The 'Native Stablecoin Yield' is Haram and non-optional, as it automatically generates prohibited interest (Riba) via MakerDAO. Conversely, the 'Native ETH Yield' is Halal, as bridged ETH is automatically routed to Lido for Proof-of-Stake validation, which is a permissible service. The protocol also features 'Automatic BLAST Incentives,' which are Doubtful; holding BLAST automatically accrues inflation-funded incentives, a mechanism scholars debate when forced upon all holders rather than being opt-in. Finally, users can actively opt-in to 'dApp Lending,' which is Haram, as it involves lending BLAST on ecosystem applications to earn interest.

Permissible Aspects

  • The underlying infrastructure (Ethereum) is a neutral, general-purpose base layer.
  • The protocol's direct revenue comes from permissible L2 sequencer fees (the spread between L2 gas fees charged to users and L1 data availability fees paid to Ethereum).
  • The automated routing of bridged ETH to Lido for Proof-of-Stake validation is a permissible yield-generating activity.
  • The token qualifies as recognized digital property with genuine utility for governance and gas fees.

Points of Caution

  • !The network experienced a severe 97% drop in Total Value Locked (TVL) and a massive user exodus following its airdrop, indicating highly mercenary adoption and significant investment risk.
  • !The Blast Foundation's treasury composition is not publicly disclosed, meaning it is unknown if they earn interest from conventional banks or DeFi lending.
  • !The token's minting authority is discretionary and centralized, posing a centralization risk to holders.
  • !Holding the token automatically accrues inflation-funded incentives, a mechanism that is debated among Shariah scholars when it cannot be opted out of.

Purification Note

Not applicable. Because holding the BLAST token is fundamentally impermissible due to the protocol's core reliance on interest-bearing mechanisms, the asset cannot be held. If it were permissible, holding it would not require purification as the protocol's direct revenue (sequencer fees) is pure, and the native yield from MakerDAO/Lido goes directly to users rather than the protocol itself.

BOTTOM LINE

The BLAST token is non-compliant (Haram) for Islamic investors because the network's core design automatically routes bridged stablecoins into interest-bearing lending protocols to generate yield. While the token itself has valid utility and operates on a neutral blockchain, this foundational reliance on Riba (interest) makes holding the asset impermissible. As always, 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 Blast (BLAST), 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.