Is farming Arcus airdrop points through spot trading halal? The perps waitlist gives more points but involves leverage trading.

Farming the potential Arcus airdrop through spot trading of halal company tokens is permissible. Farming it through the perpetual futures waitlist or any perps activity is Haram. The distinction is specific and important and the honest answer requires acknowledging that the permissible path gives significantly lower airdrop eligibility weight than the prohibited path.

Spot trading activity on halal company tokens builds on-platform history that may contribute to the future Arcus token allocation. This is permissible airdrop farming because the activity itself, buying and selling tokenized stocks of halal-classified companies at market prices with no leverage, is permissible under the Chairman's ruling on xStocks of halal companies. Referrals of other eligible users are also a confirmed allocation factor and are permissible since referring others to a platform for its permissible spot trading features is legitimate.

The perpetual futures waitlist and any perps trading activity are Haram regardless of their higher weight in the airdrop eligibility criteria. Joining the perps waitlist signals intent to participate in perpetual futures trading. Trading perpetual futures with any amount of leverage involves interest-bearing borrowing and funding rate mechanisms that trigger CoinStudy's red lines. The airdrop motivation does not transform a Haram activity into a permissible one. CoinStudy has established this principle consistently across multiple analyses: the activity determines the ruling, not the motivation behind it.

The honest acknowledgment Muslim investors need to hear is this. Arcus has specifically designed its airdrop eligibility to reward experienced perpetual futures traders. Prior perps volume on dYdX, Hyperliquid, and Lighter carries significant eligibility weight. Spot trading and referrals carry lower weight. Muslim investors who participate only through permissible spot trading will receive a smaller potential allocation than those who engage with the perps product. This is the cost of compliance and it must be accepted.

The permissible airdrop farming strategy for Muslim investors on Arcus is: trade spot tokens of halal-classified companies only, verify each company's halal status using CoinStudy's analysis library before trading, avoid SGOV and any T-Bill instrument tokens, apply appropriate caution about USDG as the settlement asset, share referral links with eligible users, and completely avoid the perps waitlist and all perpetual futures activity. This approach provides some potential allocation eligibility through legitimate permissible activity while maintaining complete compliance with Islamic finance principles.

Read detail analysis of Arcus here:
Is Arcus Halal ?