Radix is a Layer 1 blockchain protocol that focuses on infrastructure for DeFi projects. It aims to eliminate hacking and data mining risks while reducing project development time. In addition to its objectives aligning with the preservation of wealth, as emphasized by the maqasid shariah, it is important to note that Radix indirectly enables and supports various activities that are considered prohibited in Islamic finance. These activities include lending, DeFi insurance, and derivatives instruments.
| Category | Details | Status |
|---|---|---|
| Legitimacy | Radix operates independently without regulation from any specific country or regulatory body. The project follows a transparent roadmap and has developed a genuine product on the blockchain. Furthermore, the token/coin associated with Radix holds a fundamental underlying value, qualifying it as "Mal" in accordance with Shariah principles. | Passed |
| Project | Radix is a Layer 1 blockchain protocol that focuses on infrastructure for DeFi projects. It aims to eliminate hacking and data mining risks while reducing project development time. Radix optimizes cross-shard synchronization, allowing applications to scale without compromising security and interoperability. It offers a desktop and hardware wallet, an explorer, instapass, and instabridge. Radix aims to solve various issues limiting DeFi's potential and provides a decentralized network where developers can build quickly, with rewards for improvements and scalability as a non-issue. | Grey |
| Financials | The token is not backed by any equity, thus there is no financial screening on this token. | Passed |
| Token | XRD is the native token of the Radix Public Network, serving as a crucial element in securing the network through staking and as the exclusive means of paying transaction fees. Additionally, XRD functions as the base currency for the Radix DeFi ecosystem, enabling its use within various decentralized applications for transactions, value exchange, and other financial activities. | Passed |
| Staking Method | In the Radix DPoS (Delegated Proof of Stake) system, XRD token holders participate in consensus by staking their tokens and voting for validator nodes. Stakers delegate their tokens to chosen validators, who are responsible for validating transactions and maintaining the network. In return for their participation, stakers receive network emission rewards. | Passed |
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