HCS Score
86/100
These are absolute prohibitions in Islamic finance. If any red line is triggered, the asset is automatically classified as HARAM.
Riba Exposure
Not an interest-based lending or borrowing protocol
Gambling / Betting
No gambling or betting mechanism
Haram Industry
Not involved in haram industry
The asset is scored across 7 Shariah principles.
Based on Red Line Screening and HCS Scoring.
Halal
This cryptocurrency is evaluated as Halal for investment and use because it shows strong alignment with CoinStudy HCS principles.
Explanation
This asset demonstrates strong Sharia compliance with real utility and transparent financial structure.
Reviewed by
CoinStudy Shariah Board
Most blockchain projects dream of reaching a billion users.
TON might actually have a realistic path to getting there — and that's what makes it genuinely interesting.
The Open Network was originally developed by the team behind Telegram, one of the world's most widely used messaging applications with over 900 million active users. The connection between TON and Telegram's existing user base gives this blockchain something most crypto projects never achieve — a built-in distribution channel reaching hundreds of millions of real people.
For Muslim investors, the question isn't about market size. It's about whether TON is permissible to own. Let's find out.
TON passes the CoinStudy HCS Sharia red-line screening with no violations. It scores 86 out of 100 and is classified as Halal. It has strong blockchain utility, a scalable infrastructure design, no built-in interest mechanism, and a genuinely unique path to mass adoption through its Telegram ecosystem connection.
TON — The Open Network — is a Layer 1 blockchain platform designed to support payments, decentralized applications, digital identity systems, and scalable blockchain infrastructure at a scale most networks can't realistically achieve.
The network supports payments, decentralized applications, digital identity systems, Web3 services, digital asset transfers, and blockchain infrastructure. Its goal is to make blockchain technology accessible to large numbers of ordinary users — not just crypto enthusiasts — through fast and efficient network performance.
What makes TON different from most blockchain projects is that goal of mass adoption isn't theoretical. Through its deep integration with Telegram, TON already has access to infrastructure — digital wallets, payment services, mini applications, and messaging-based services — that reaches one of the largest existing user communities in the world.
TON operates as a highly scalable blockchain platform built to handle the kind of transaction volumes that consumer applications at global scale actually require.
The network is designed for fast transaction processing, low transaction costs, scalable infrastructure, and an efficient user experience. TON holders can use the network for transactions, staking, governance participation, and ecosystem activity.
Technically, TON was designed with a multi-blockchain architecture that allows it to scale horizontally — meaning it can add capacity as demand grows rather than becoming congested like older networks. This is an important practical advantage for a blockchain trying to serve hundreds of millions of users.
This deserves a dedicated explanation because it's central to understanding TON's unique position.
Telegram integrated TON into its platform through features like built-in wallets, peer-to-peer payments between Telegram users, mini applications that run inside Telegram chats, and blockchain-based services accessible directly within the messaging app.
For the first time, this gives a blockchain direct access to a massive existing user base that doesn't need to download a separate crypto wallet, understand seed phrases, or navigate complex exchanges. They already use Telegram. TON is just built into it.
From a utility perspective, this is significant. Real-world adoption is one of the most important factors in the CoinStudy HCS assessment — and TON has a more credible path to genuine mass adoption than most blockchain projects that start from zero.
The TON blockchain does not provide fixed interest payments, guaranteed profits, automatic lending income, or built-in interest mechanisms. Its purpose is blockchain infrastructure and digital services.
At the protocol level, TON is completely free from Riba. The token is used for transaction fees, staking, governance, and ecosystem activity — all functional uses that don't involve interest-based arrangements.
As with other halal-rated blockchains, some independent applications built on TON may offer lending products or yield-generating programs. These are separate from the TON protocol itself and require individual evaluation.
TON operates through a transparent blockchain where network rules are publicly available, transactions can be verified, blockchain activity is visible, and development is openly documented.
That transparency keeps core Gharar concerns manageable. Some uncertainty remains around long-term governance maturity and how the Telegram relationship evolves over time — but these are adoption and governance considerations rather than fundamental contractual ambiguity.
The Gharar score of 13 out of 15 reflects a network that is transparent and well-designed but still developing its governance maturity compared to older, more established blockchains.
TON was created to support blockchain services, payments, and decentralized applications — not speculative financial products. The core design reflects that infrastructure purpose consistently.
Speculative trading in TON occurs in cryptocurrency markets, as it does with all crypto assets. The ecosystem also hosts some speculative projects. But these behaviors come from market participants and third-party developers, not from the design of the TON network itself.
TON clears every hard red line.
It is not a lending platform. It does not generate automatic interest. It is not designed for gambling. It functions as blockchain infrastructure for payments and decentralized applications.
No red line violations were found. TON is fully eligible for HCS scoring.
TON is scored across 7 Shariah principles with a total of 100 points.
On Financial Exposure Risk, weighted at 25%, TON scores 23 out of 25. The slight deduction reflects the existence of some interest-based and DeFi applications within the broader ecosystem, independent of the core protocol.
On Gharar and Uncertainty, weighted at 15%, TON scores 13 out of 15. The network is transparent and well-documented, with some deduction for governance maturity and the evolving nature of the Telegram ecosystem relationship.
On Maysir and Speculation, weighted at 15%, TON scores 11 out of 15. No gambling mechanics in the core protocol. Some speculative activity in the ecosystem and market is noted, consistent with how we score other infrastructure blockchains.
On Underlying Business Activity, weighted at 15%, TON scores 14 out of 15. Blockchain payments, digital identity, decentralized applications, and Web3 services are permissible and genuinely valuable activities. A small deduction reflects questions about the long-term independence of the ecosystem from Telegram's centralized platform.
On Utility and Real Use, weighted at 10%, TON scores 9 out of 10. Strong and growing real-world utility with genuine mass adoption potential through the Telegram integration — one of the more credible real-world adoption stories in the blockchain space.
On Tokenomics Fairness, weighted at 10%, TON scores 8 out of 10. Token distribution is reasonable overall, though the project's history — originally developed by Telegram before being open-sourced to the community — creates some questions about early allocation structures.
On Transparency and Governance, weighted at 10%, TON scores 8 out of 10. Open-source and publicly auditable, with developing community governance. Still maturing compared to older, fully community-governed blockchains.
Overall HCS Score: 86 out of 100 — Halal
TON's biggest strength is also worth examining as a potential concern.
The network's mass adoption potential is heavily tied to Telegram's continued integration and support. If Telegram were to reduce, modify, or end its relationship with TON for any reason — regulatory pressure, strategic pivot, or policy change — TON's path to mass adoption would look significantly different.
This is not a Sharia compliance concern. But it is a genuine investment risk that responsible Muslim investors should factor into their decision. TON's utility case is stronger with Telegram than without it — and that dependency creates a centralized point of risk in what is otherwise a decentralized network.
Understanding this dynamic is part of making an informed investment decision.
One of the more practically interesting aspects of TON for Muslim investors is the mini application ecosystem within Telegram.
Developers can build mini apps that run directly inside Telegram chats — accessing TON blockchain functionality without requiring users to leave the messaging app. This has already enabled payment applications, games, marketplaces, and digital services accessible to Telegram's global user base.
For Muslim communities that are already heavy Telegram users — particularly in Muslim-majority countries across Southeast Asia, the Middle East, Central Asia, and Africa — this creates a genuinely practical pathway for blockchain adoption that doesn't require navigating complex crypto infrastructure.
The utility potential here is real and relevant specifically to the communities CoinStudy serves.
Before investing in TON, ask yourself honestly:
Do I understand what TON is building and why the Telegram integration creates genuine utility value? Am I investing based on long-term adoption potential rather than short-term market excitement? Am I avoiding interest-based applications within the TON ecosystem? Do I understand the dependency on Telegram and what it means for the project's long-term trajectory? Is my investment strategy free from gambling-like speculation?
TON is a genuinely interesting blockchain with a unique and credible path to mass adoption. But like any investment, it rewards understanding over enthusiasm.
Toncoin is generally considered halal under the CoinStudy Halal Crypto Standard.
It serves a legitimate technological purpose. It operates without built-in interest mechanisms. It provides real utility through payments, decentralized applications, and scalable blockchain infrastructure — with a uniquely credible path to mass adoption through its Telegram ecosystem connection.
The concerns that exist — ecosystem DeFi applications, governance maturity, and Telegram dependency — are real and honestly reflected in the score. But they don't constitute Sharia violations. They are investment considerations that responsible Muslim investors should understand clearly.
For Muslim investors interested in blockchain infrastructure with genuine mass adoption potential and strong Sharia compliance fundamentals — TON is one of the more compelling options in the current market.
Disclaimer: This analysis is provided for educational and research purposes only. This analysis is based on guidance from CoinStudy's HCS Shariah Board members. CoinStudy does not issue personal fatwas or financial advice. Please consult a qualified Islamic scholar for individual guidance.
Guaranteed Interest
No guaranteed interest obligations
Synthetic Interest Products
No synthetic interest instruments
No Red Line Violations
This asset passed all Sharia red line checks.
Financial Exposure Risk
25%Indirect financial exposure to interest-based & yield products
Gharar / Uncertainty
15%Clarity in contracts and absence of excessive uncertainty
Maysir / Speculation
15%No gambling-like mechanics or high speculation design
Underlying Business Activity
15%The nature of the project's core business is permissible
Utility / Real Use
10%Genuine utility and real economic value
Tokenomics Fairness
10%Fair distribution, no exploitation, sustainable tokenomics
Transparency & Governance
10%Open-source, audited, clear governance structure
