| Category | Details | Status |
|---|---|---|
| Legitimacy | Orchid is a Delaware C-corp which were under the regulation of US SEC. The project has a well-defined path and a legitimate product, while the token/coin has a fundamental underlying value that qualifies it as a "Mal" or asset. | Passed |
| Project | Orchid is a cutting-edge solution for secure communication and VPN services. It operates as a decentralized bandwidth market, where node providers stake tokens to offer their services on the Ethereum blockchain. With its unique approach to security and quality, Orchid is the go-to choice for anyone looking for a reliable and secure privacy solution. Furthermore, there is no element of non-Shariah compliance included, therefore it is permissible. | Passed |
| Financials | There is no financial screening on this cryptocurrency because it is not backed by any equity. | Passed |
| Token | OXT is Orchid's native ERC-20 digital asset that powers and secures a new approach to VPN services and providers compete for user payment streams by staking OXT. Providers can stake and increase OXT to take advantage of rising network bandwidth sales when more bandwidth is ordered on the Orchid network. | Passed |
| Staking Method | A provider can create a stake deposit by staking a certain amount of OXT. This deposit allows anyone to participate in the staking process on nodes through a smart contract. The number of clients selecting a particular node is based on the size of their OXT deposit. The larger the stake deposit, the more users, bandwidth, and revenue it will generate. | Passed |
Read the source document and verify project fundamentals.