Is buying xStocks on Nado. xyz halal?

Nado. xyz is not an xStocks platform. Nado is a perpetual futures DEX built on Kraken's Ink Layer 2 blockchain. Their own page title reads "Nado DEX: Unified Perps and Spot on Ink L2" with trading described as "via a unified cross-margin system." This platform is in the same category as Hyperliquid, Drift, and BULK Exchange. The perpetual futures mechanism triggers the Gambling and Betting red line through zero-sum leveraged speculation and the Ecosystem Riba Exposure red line through funding rate payments between position holders. The unified cross-margin design means even spot positions share the same account as perpetual futures positions, making it structurally impossible to cleanly separate permissible activity from prohibited activity. Nado is classified as Haram. Muslim investors who want to buy xStocks of halal companies should use xstocks.fi through Backed Finance or Backpack Securities through backpack.exchange, both of which have been assessed by CoinStudy with Shariah Board Chairman rulings.