Is QXMP (QXMP) Halal or Haram?
SUMMARY
QXMP is rated Haram primarily because it is a confirmed scam built on fabricated claims of $1.17 trillion in unmined assets and false regulatory compliance. Furthermore, its core Liquidity Providers Program offers a guaranteed return of capital plus a fixed token bonus, which constitutes Riba.
Verdict by Activity
How you can hold and use QXMP
Buy & Hold
The project is a confirmed scam operating with deceptive practices, and its core business model relies on guaranteed interest-like returns.
Liquidity Providers Program
OptionalGuarantees the return of original capital in full plus a fixed token bonus after a 12-month term, constituting Riba.
Enterprise Settlement Rewards
OptionalEnterprises earn QELT tokens from a reward pool based on their actual settlement activity volume.
Shariah Component Breakdown
Shariah Analysis
Infrastructure — where it runs
PassedThe asset operates on its own Layer-1 (QELT) and Ethereum, with BitGo for custody, which serve as neutral general-purpose infrastructure.
Application — what it does
FailedThe project is categorized as a Confirmed Scam due to fabricated asset valuations and deceptive regulatory claims. Additionally, its core Liquidity Providers Program guarantees fixed returns on deposited capital, constituting Riba.
Asset — what you own
CautionThe primary utility includes enterprise settlement and network gas fees, but the token features an opt-in yield mechanism (Liquidity Providers Program) that is not limited to standard PoS validation and fees.
Property Status (Māl)
CautionWhile the token has genuine lawful use and exists on-chain, minting authority is discretionary_centralised and market adoption is negligible. Furthermore, QXMP is an issuer redemption claim rather than a native protocol position, meaning its value depends on the issuer's ability and willingness to honour it.
Revenue Purity
PassedNo explicitly haram protocol revenue share was identified. However, the project's liquid reserves are invested in interest-bearing U.S. Treasury bills and reverse-repurchase agreements.
Legitimacy & Security
social presence
CautionThe project has negligible actual market adoption and relies on unverified, astronomical claims.
project audits
PassedThe research indicates audit or security information was found, alongside BitGo integration for institutional custody.
whitepaper
PassedThe project provides an official website, documentation, and tokenomics.
Team & Ecosystem
team background
FailedThe core team includes pseudonymous members such as 'The Architect', and the project is fundamentally categorized as a confirmed scam.
Detailed Shariah Report
Overview
QXMP operates a stablecoin and a Layer-1 blockchain (QELT) designed to tokenize real-world assets, specifically unmined "in-ground" resources. The QXMP token is intended for enterprise settlement and treasury operations, while the QELT token is used for network gas fees and ecosystem rewards.
Why This Verdict
To determine Shariah compliance, we evaluate the asset across three layers: infrastructure, application, and the asset itself. The underlying infrastructure (Ethereum, QELT Layer-1, and BitGo) is neutral and permissible. However, the application layer fails critically: QXMP is categorized as a confirmed scam built on fabricated claims of $1.17 trillion in unmined assets and false regulatory compliance. At the asset qualification layer, a digital asset must be recognized property (Mal)—meaning it presently exists, is ascertainable, transferable, and carries lawful use. While QXMP exists on-chain, it is an issuer redemption claim rather than a native protocol position, meaning its value relies entirely on a centralized issuer with negligible market adoption, weakening its status as Mal. Consequently, simply buying and holding QXMP is rated Haram due to the project's deceptive practices and fraudulent nature. Regarding optional mechanisms: The Liquidity Providers Program is Haram (opt-in) because it guarantees the return of original capital in full plus a fixed token bonus after a 12-month term, which constitutes Riba (usury). Conversely, the Enterprise Settlement Rewards program is Halal (opt-in), as enterprises earn tokens from a reward pool based on their actual settlement activity volume rather than a guaranteed return on capital.
Permissible Aspects
- The underlying infrastructure (Ethereum and QELT Layer-1) is neutral and general-purpose.
- The token has a theoretical lawful utility for enterprise settlement and network gas fees.
- The opt-in Enterprise Settlement Rewards mechanism distributes tokens based on actual network activity rather than interest.
Points of Caution
- !The project is a confirmed scam relying on fabricated asset valuations and deceptive regulatory claims.
- !QXMP is an issuer redemption claim, meaning holders do not own a native digital asset but rather a claim against the issuer, exposing them to severe counterparty risk.
- !The protocol's liquid reserves backing the QXMP stablecoin are explicitly invested in interest-bearing instruments, including U.S. Treasury bills and reverse-repurchase agreements.
- !The core team includes pseudonymous members, further elevating the risk of fraud.
Purification Note
Not applicable. Because the project is a confirmed scam and holding the token is rated Haram, Shariah-conscious investors should avoid the asset entirely.
BOTTOM LINE
QXMP is rated Haram primarily because it is a confirmed scam built on fabricated asset valuations and deceptive regulatory claims. Furthermore, its core Liquidity Providers Program offers a guaranteed return of capital plus a fixed token bonus, which is a clear form of Riba (usury). Muslim investors should avoid purchasing, holding, or interacting with this asset. Please note that this is an analytical report, and 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 QXMP (QXMP), 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.
The framework follows published scholarship rather than in-house opinion. Treating a digital asset as a right (ḥaqq) that becomes recognised property (māl) only on stated conditions follows “Is Crypto Halal? The Definitive Shariah Guide to Crypto and Digital Assets” by Mufti Faraz Adam (Amanah Advisors, 2026), which reproduces the conditions identified by Mufti Taqi Usmani. Financial thresholds follow the AAOIFI screening standard. The rulings we track are collected in the fatwa library.
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.
Is QXMP a serious project?
Permissible is not the same as good. This is the research behind that second question — what QXMP is actually for, who is paying for it, what is already built, and what would have to go wrong.
Research on the project, not advice on the trade. A high fundamental score is not a recommendation to buy, and it says nothing about whether the asset is permissible — that is the Shariah verdict, and it is free.
How QXMP ranks against its peers
The Shariah verdict tells you whether you may own QXMP. This tells you what you would be holding — measured from market data, with no AI judgment in it, and compared only against assets of the same kind.
A ranking of how solid an asset is against its peers, not a forecast of what it will do next and not investment advice. A permissible asset can rank badly, and a badly ranked asset can still rise.
About QXMP
QXMP is rated Haram primarily because it is a confirmed scam built on fabricated claims of $1.17 trillion in unmined assets and false regulatory compliance. Furthermore, its core Liquidity Providers Program offers a guaranteed return of capital plus a fixed token bonus, which constitutes Riba.
Asked alongside this
Short answers from the ShariaQuant team.
So what do you hold instead?
A haram verdict is a starting point, not an ending. The harder questions are how to exit something you already hold and how to find what does pass. The free module starts there.
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