Charli3

Project Overview

Charli3 (C3) is a decentralized oracle network built specifically for the Cardano blockchain ecosystem. Its primary purpose is to provide reliable, real-world data feeds to smart contracts operating on Cardano.

Intended Use Cases

The C3 token serves multiple utilities within the Charli3 ecosystem: It's used for governance voting on protocol decisions, node operation collateral, and payment for oracle services. Node operators must stake C3 tokens to participate in the network and earn rewards for providing accurate data.

Current Implementation and Development

The project is actively developing its oracle infrastructure, though it's still in relatively early stages compared to more established oracle networks. The team maintains regular development updates and has established partnerships within the Cardano ecosystem.

Business Model Analysis

The core business model revolves around providing decentralized data services, which is a legitimate and needed service in the blockchain space. The revenue model is based on service fees paid by smart contracts using the oracle network, which is distributed to node operators and token holders.

Token Distribution and Governance

The token distribution includes allocations for development, team incentives, and public sale participants. While specific vesting details are public, there is a significant portion reserved for the team and development fund, which is common for infrastructure projects of this nature.

Sharia Compliance Analysis

The fundamental utility of providing oracle services represents a legitimate exchange of value. The staking mechanism used for node operation serves a practical purpose in securing the network and doesn't constitute interest-bearing lending. The project doesn't facilitate any explicitly prohibited activities like gambling or interest-based lending.