Big Data Protocol is a platform for sharing commercial data and services. Its services, staking methods, and other features appear to be in line with Shariah principles. As of now, we consider BDP to be Shariah compliant.
| Category | Details | Status |
|---|---|---|
| Legitimacy | Not regulated by any countries or regulatory bodies. The project has a clear roadmap and genuine product on blockchain, while the token/coin has a fundamental underlying value that allows it to be categorized as âÂÂMalâÂÂ. | Passed |
| Project | Big Data Protocol is a platform that uses DeFi protocol and a Web3 marketplace to source commercial data from professional data providers, tokenize it, and make it liquid on Uniswap. The protocol is focused on providing commercial data through a network of various professional data providers and making the data tokens liquid. Big Data provides three services - data vault, data room, and data marketplace - all of which are in line with Islamic law. | Passed |
| Financials | The tokens are not backed by any equity, thus there is no financial screening on this token. | Passed |
| Token | BDP is the governance token of the Big Data Protocol. It is burned to access the Protocol and pay for fees associated with dataset submissions by data providers, curation services by curators, and the data marketplace. Hodlers must hold a certain number of BDP to unlock features and benefits, including access to exclusive datasets and airdrops of data tokens. | Passed |
| Staking Method | The Proof of Stake method allows users to receive rewards by staking their assets. Users can also stake their assets in seed pools. The mechanism of this protocol appears to comply with Shariah rulings. | Passed |
Read the source document and verify project fundamentals.