Bitway

Holding BTW pays nothing, but its main use is staking into a vault whose return comes from undisclosed exchange trading and is settled at a fixed rate.

Riba means interest or any guaranteed increase on a loan. Simply holding BTW earns nothing, and BTW is not a lending token. Its main use, however, is staking: Bitway Earn has a BTW vault (bwBTW), and its docs say staked assets are moved to custodial accounts, including centralised exchanges, and 'deployed into diverse trading strategies', with returns from 'institutional yield strategies on centralized exchanges'. The strategies are not named.

BTW is a platform token with limited utility — product access, reward boosts and governance — and official religious bodies disagree on whether cryptocurrency is property (mal).

Mal is property that Islamic law recognises as having value and that can be owned and traded. BTW is not the fee coin of a working blockchain: Bitway's docs list its uses as staking for access to selected products, boosted rewards and fee benefits, partner and liquidity incentives, and governance votes. The product it serves, Bitway Earn, is real and held about $76 million of deposits on 27 September 2026, but the token's value is not a claim on those deposits or on platform revenue.

BTW is not a gambling token, but its market is dominated by leveraged futures and its price rose over a hundredfold in seven months.

Maysir is gambling: winning or losing by chance rather than through productive exchange. Ordinary price swings are not maysir, and BTW has no chance-based payout of its own. Its market is extremely speculative, though. On 27 September 2026, BTWUSDT perpetual futures traded about $130 million on Binance and $28 million on Bybit in 24 hours, against about $31 million of spot volume across all exchanges on CoinGecko: futures on those two venues alone were about 84% of the total.

Bitway earns the surplus of undisclosed exchange trading strategies over a fixed rate paid to depositors; the revenue mix is unknown and likely relies on derivatives.

This criterion asks how the issuer or protocol earns, and whether any of that income is impermissible. Bitway charges users no management or performance fees. Its docs say vault yields are settled to depositors at a fixed rate and 'any surplus yield' is kept as platform revenue, so the platform earns whatever its trading strategies make above that rate.

Strategies and custodians are undisclosed, the whitepaper is marked outdated, supply figures differ between sources, and about 73% of BTW is still locked.

Gharar is excessive uncertainty or hidden information in a deal. The BTW supply is fixed and checkable: the BNB Chain contract reports 10 billion BTW. Much else is opaque. Bitway does not name its trading strategies, its custodians or the legal entity behind Bitway Earn; the contracts are audited, but the off-chain positions and exchange accounts where most deposits sit are not. Withdrawals can take up to seven days and may be paused in extreme market conditions.

BTW is used mainly for staking into a fixed-rate yield vault, governance and speculative trading.

This criterion looks at what the asset is actually used for. BTW is not used for payments or computation. Its uses are staking in Bitway Earn (including the bwBTW vault), reward boosts, governance votes and campaign incentives; the product it supports is a yield platform that pays depositors a fixed rate from undisclosed exchange trading. A large share of BTW activity is leveraged futures trading. None of this is proven to be interest-based finance as the main purpose, so the status is caution rather than fail.

Bitway offers a working yield product, but a token valued far above its underlying business and driven by leveraged trading exposes late buyers to large losses.

Maslahah weighs public benefit against harm. The benefit is modest: Bitway Earn is a functioning, audited on-chain entry point to its strategies with about $76 million of deposits. The harms are custody and concentration risk (deposits sit with centralised exchanges and custodians that are not named, and withdrawals can be paused) and a market structure that invites losses for retail buyers: BTW's market value is about 39 times Bitway Earn's deposits and its fully diluted value about 144 times, most of its volume is leveraged futures, and about 73% of supply is still to unlock.