XYO
Crypto Overview
Overview
XY Oracle (XYO) is a decentralized network of devices that anonymously collect and validate geospatial data. The project aims to create a trustless location-verification system using blockchain technology.
Intended Utility
The XYO token is designed to serve as the native currency for the XYO Network, incentivizing data providers and validators in the ecosystem. The token is used for governance, staking, and payments within the network.
Actual Utility and Implementation
The project has developed real-world applications, including partnerships with companies for location-based services. The XYO World app and COIN App allow users to earn XYO tokens by providing location data. The network has maintained consistent development activity, with regular updates to its technology stack.
Token Distribution and Governance
The token distribution includes allocations for development, marketing, and community initiatives. The project maintains transparency regarding token allocations and uses. Team tokens have vesting periods to ensure long-term alignment.
Technology Assessment
The underlying technology focuses on location verification without relying on traditional GPS systems. The network uses a proof-of-origin consensus mechanism that aligns with Islamic principles as it involves actual work and value creation.
Revenue Model
The project generates revenue through legitimate business activities, including data services and enterprise partnerships. The revenue model does not involve interest-based mechanisms or prohibited activities.
Crypto Impact
To assign a comfort level investing in XYO 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 XYO.
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.