Ocean Protocol
Crypto Overview
Intended Utility
Ocean Protocol is designed as a decentralized data exchange protocol that enables the sharing and monetization of data while preserving privacy and control. The OCEAN token serves as the native utility token for accessing, publishing and curating datasets within the Ocean ecosystem.
Business Model Evaluation
The protocol facilitates transparent data exchanges between data providers and consumers, with clear pricing mechanisms and ownership rights. The business model appears to align with Islamic principles as it involves genuine value exchange and promotes beneficial knowledge sharing.
Real-World Adoption
Ocean Protocol has established partnerships with various organizations and enterprises, including Daimler AG, and has multiple live use cases in sectors such as healthcare, scientific research, and artificial intelligence. The protocol shows consistent development activity with regular updates to its core infrastructure.
Token Distribution and Governance
Ocean's token distribution shows a relatively balanced allocation: 51% was distributed through various token sales, 15% to the Ocean Protocol Foundation, 20% to core team and advisors (with vesting schedules), and 14% for ecosystem development. The vesting schedule for team tokens extends over four years, indicating commitment to long-term development.
Development vs Marketing
The project demonstrates strong focus on technical development with regular GitHub activity and comprehensive documentation. Marketing efforts appear proportionate and focused on ecosystem growth rather than token price speculation.
Revenue Model Analysis
The protocol generates revenue through data marketplace fees and curation rewards, avoiding interest-based mechanisms. The staking mechanism used for data curation aligns with Islamic principles as it represents actual participation in network security and governance rather than interest-bearing activity.
Crypto Impact
To assign a comfort level investing in Ocean Protocol from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Ocean Protocol.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.