Exorde

Project Overview

Exorde is a decentralized protocol designed to create a web3-based information system for collecting, validating, and organizing online data. The EXD token serves as the native utility token of the Exorde ecosystem.

Purpose and Utility

The primary purpose of EXD is to incentivize network participants who contribute to data collection and validation. Validators earn EXD tokens for participating in the network's data scraping and verification processes. The token is also used for governance, allowing holders to vote on protocol decisions.

Business Model Analysis

The business model focuses on creating a decentralized data marketplace where participants are rewarded for contributing to the network's data collection efforts. This model appears to align with Islamic principles as it involves the exchange of real value (data and validation services) for compensation.

Development and Adoption

The project maintains active development on GitHub, with regular updates to its protocol. The network has active validators participating in data collection and verification processes. While adoption is still in early stages, this doesn't impact its Shariah compliance assessment.

Token Distribution

EXD tokens are distributed through mining rewards to validators who participate in network operations. The distribution mechanism appears fair and transparent, with tokens earned through actual work performed.

Revenue Model

The revenue model is based on providing valuable data services and compensating participants for their contributions. The model doesn't involve interest-bearing mechanisms or prohibited activities like gambling or lending.