Iagon is a decentralized storage and computing marketplace that offers secure and transparent storage solutions. They aim to create a marketplace where everyone can trade storage at a transparent price while ensuring data privacy and security. They use a technology called Secure Lake to encrypt and store files, and their decentralized architecture ensures that no one entity can store or access the files. As of now, Iagon's projects seems to be in line with Shariah. Thus, we consider it as Shariah compliant.
| Category | Details | Status |
|---|---|---|
| Legitimacy | Not regulated by any countries or regulatory bodies. The project has a clear roadmap and genuine product on the blockchain, while the token/coin has a fundamental underlying value that allows it to be categorized as "Mal". | Passed |
| Project | Iagon is a decentralized storage and computing marketplace that aims to provide secure, transparent, and region-specific storage solutions to users. They offer a storage marketplace that allows storage providers to earn rewards by trading their excess storage to resource consumers at a transparent price while ensuring data privacy, security, and accessibility. Iagon plans to implement a technology named Secure Lake, which will be based on decentralization, encryption, random clipping masks, ECC encoding, compression, and sharding, to ensure that even when information systems are breached, the data and files cannot be accessed, deleted, or modified. Iagon's decentralized architecture ensures that there is no central entity that can store or access the files, and users can choose a drive specific to their needs. Iagon also implements strict privacy policies, including a zero cookies policy, to protect user data. Overall, Iagon aims to revolutionize the storage market by creating a marketplace for storage where everybody can participate and trade storage at a transparent price while ensuring data privacy and security. | Passed |
| Financials | The token is not backed by any equity, thus there is no financial screening on this token. | Passed |
| Token | IAG is the native token of the Iagon protocol, used for staking towards device connections and to earn dividends. It serves several functions such as earning rewards through staking, earning a portion of transaction fees, incentivizing storage providers, and funding further development of the system. It is also used to facilitate transactions within the Iagon ecosystem. | Passed |
| Staking Method | IAG holders can stake their tokens in the company's ADA staking pool to earn additional rewards. The Iagon protocol incentivizes storage providers with rewards from stablecoins paid by storage consumers and IAG tokens from the company treasury. The locked rewards during the commitment period are used to generate additional yield for the resource provider. | Passed |
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