Orchid
Crypto Overview
Understanding Intended Utility
Orchid (OXT) is a cryptocurrency that powers a decentralized virtual private network (VPN) protocol. The token serves as the native payment method within the Orchid network, where users can purchase VPN bandwidth from providers using OXT tokens. The protocol aims to provide secure, private internet access while avoiding censorship and surveillance.
Platform Mechanics
Users stake OXT tokens to access VPN services, while providers stake OXT to offer bandwidth on the network. The protocol uses a unique 'probabilistic nanopayment' system where providers receive tiny payments for their services, making microtransactions efficient on the Ethereum blockchain.
Actual Utility Assessment
The Orchid VPN app is actively used and available on major platforms including iOS, Android, and desktop systems. The network has multiple VPN providers integrated into its ecosystem, and the protocol demonstrates consistent development activity on GitHub. The project maintains partnerships with prominent VPN providers and continues to expand its network of bandwidth providers.
Token Distribution and Governance
The initial token distribution allocated 55% to investors and the team, with vesting periods implemented to prevent immediate selling. The remaining tokens were distributed through various mechanisms including community incentives and network growth initiatives. The project maintains transparent documentation of token allocations and vesting schedules.
Technology and Revenue Model
The revenue model is based on direct payment for services (VPN bandwidth) using OXT tokens. There is no lending or interest-bearing component in the core protocol. The technology focuses on privacy-preserving internet access, which aligns with ethical principles of protecting user privacy and promoting freedom of information access.
Crypto Impact
To assign a comfort level investing in Orchid 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 Orchid.
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.