Is ocean halal, They have a platform where people can submit their crypto price predictions in a time frame and if the prediction is right you get rewarded, if not you will get slashed, which is a form of gambling.
Yes, the Predictoor.ai you are referring to is entirely gambling. However, that is just one use case for the technology created by Ocean.
Their core proposition is to tokenise AI and Data. This can be done in a million different ways, one of which is the gambling option you state. As long as people stay away from haram activities the underlying technology offered by Ocean seems to be permissable.
We actually added it to our Stealth portfolio yesterday.
Ocean users can stake OCEAN on datasets by depositing it into liquidity pools with datatokens. This acts as a method of curation as the best datasets get allocated the largest amount of OCEAN. Those who participate can earn transaction fees which are a percentage of sales volume set by the liquidity pool creator.
Staking also carries risks. The ratio between OCEAN and datatokens can change, resulting in impermanent loss. Also, rug pulls can occur when the datatoken publisher pulls out their stake in OCEAN.
Does this mean that the project’s main utility is submitting price predictions and either getting rewarded in the ocean token if it is right or get slashed if it is wrong, Allah knows best.
Ocean users can stake OCEAN on datasets by depositing it into liquidity pools with datatokens. This acts as a method of curation as the best datasets get allocated the largest amount of OCEAN. Those who participate can earn transaction fees which are a percentage of sales volume set by the liquidity pool creator.
Staking also carries risks. The ratio between OCEAN and datatokens can change, resulting in impermanent loss. Also, rug pulls can occur when the datatoken publisher pulls out their stake in OCEAN.
Does this mean that the project’s main utility is submitting price predictions and either getting rewarded in the ocean token if it is right or get slashed if it is wrong, Allah knows best.