Is staking crypto permissible?

[kamariah]

I have been doing some research on Solana, and it seems intriguing to me. I am not referring to the coin Solana but the actual network itself. I am interested in being involved as a validator as i believe in the project more so than it being about making a profit. Becoming a validator requires computational power (I’m guessing this is quite similar to mining bitcoin). Though validating on Solana requires the staking of Solana coins. I understand that some are of the opinion that Staking is not permissible? However if am a validator and doing computational work for the blockchain, would it be permissible to accept payment (through staking commission) for doing so?

Sorry for the long winded question. I hope it makes sense (i’m pretty new to the crypto world).

[Darrel_Lychee (Darrel)]

The word “staking” can mean many different things depending on the context. Not all staking is created equal. Staking coins with an exchange or a DeFi protocol, often means the exchange / protocol is lending your coins to other traders for riba (interest) either with or without leverage. This would be impermissible.

But in the context of staking to validate / verify transactions for the network, you are technically “performing work”, a service so to speak, so it would not be considered riba. The network is essentially paying you a reward for your services.

[kamariah]

Jazakallahu khairah for your explanation.

[Farhan]

Just for visibility Sh Joe answers it as well

Sh Joe on Crypto Fee Redistribution

Here’s Sh. @Joe answering a question about fee cryptocurrency fee distribution. We often here people talking about staking so this covers that as well. [Cryptocurrency Fee Redistribution: Halal or Haram? What do I do with the gains?] Sh Joe also mentions that it’s worth checking out @halalstocktok’s video, link below.