Hi mate, belive me this project is not scam they are more than scam, I understand Sharia norms, I had studied shariah, this project want to make money laundering, they , they need to hide their money and lunder it.
As you said many times here that they are not applying Sharia!
You are right, they are ERC20 and ethereum is POS which is Haram not halal because of the interest that people is getting from stacking is forbidden in Shariah.
I'm sure Muslims who is already in crypto market will not invest in this project because they don't consider others exchanges like Binance and Kucoin as forbidden.
One more thing , the team is real but they don't have any experience in crypto currency, when this exchange go live they will be hacked because they are not professional in this field.
Yes I completely believe you. Thank you for your post.