AirdropsJul 9, 2026
Are perpetual DEX airdrops halal? What about BULK Exchange's pre-deposit campaign specifically?
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Question context
BULK Exchange's pre-deposit campaign was heavily promoted on crypto social media with projections of 100% or higher APY. Muslim investors asked whether participating to earn the airdrop is permissible since they are not actively trading perpetual futures during the pre-deposit phase.
CoinStudy's answer
Research opinion from the CoinStudy Sharia team. Not a fatwa.
Every element of perpetual DEX airdrop campaigns fails Islamic finance requirements. BULK Exchange's own documentation confirms pre-deposited USDC becomes trading margin for perpetual futures contracts at mainnet launch. BulkSOL staking explicitly earns 12.5% of all BULK trading fees as a designed feature. Referrals on a haram product earn haram commission. The funding rate mechanism constitutes Riba. Zero-sum leveraged trading constitutes Maysir. The financial attractiveness of these campaigns does not change what the underlying activity is. If you would not trade perpetuals without the airdrop, the airdrop does not make the participation permissible.