Fluence (FLT)

Decentralized Computing Platform

Fluence is a decentralized, serverless computing platform that lets developers build, host, and deploy applications on a global network of independent compute providers. It offers an alternative to traditional cloud services by assembling excess compute capacity from data centers and personal devices worldwide.

Use Cases

• Running blockchain nodes for Web3 projects, including layer one, layer two, and roll-ups.
• Building decentralized applications like peer-to-peer apps, decentralized protocols, and community-run applications.
• Providing enterprise-grade, censorship-resistant, and cost-efficient compute power for AI agents and other applications.
• Offering a marketplace where compute providers can rent out their computing resources and earn rewards.

Token Utility

The FLT token is used for:

• Staking by compute providers to guarantee network reliability.
• Rewarding providers for useful work such as serving applications and improving network performance.
• Voting in the decentralized autonomous organization (DAO) for governance decisions like protocol upgrades and treasury management.
• Supporting cryptoeconomic incentives that secure the network and attest to hardware availability and performance.

Economic Model

Fluence links token value to real network activity through a buyback program funded by customer payments, creating scarcity and supporting long-term token value. The platform operates on blockchain economics to ensure transparency and security.

Advantages

• Fluence offers decentralized, enterprise-grade cloud infrastructure with global compute, reducing costs by about 75% compared to traditional cloud services.
• It provides developers with on-demand access to decentralized compute resources, enabling faster deployment and global scaling without vendor lock-in.
• The platform rewards compute providers for useful work, encouraging efficient service and network performance.
• Fluence supports a wide range of devices as compute providers, from professional data centers to personal computers.
• It uses cryptographic proofs to ensure trustlessness and verifiability of computations.
• Fluence integrates AI to optimize resource allocation, maintenance, and network performance.
• The platform enables building decentralized applications, protocols, and cloud-native computing with blockchain economics.
• Fluence has strategic partnerships and a staking program that supports network growth and security.

Disadvantages

• Fluence's token price has experienced declines and underperformance compared to the broader crypto market and similar projects.
• The total token supply is large, which can affect price dynamics due to supply and demand.
• Some users have expressed concerns about complex scripts related to rewards claiming, which may be difficult for beginners.
• Fluence is not available on all major exchanges, limiting trading options for some users.
• The project is relatively new and evolving, which may involve uncertainties typical of emerging technologies.

Founders of Fluence

Fluence was founded in 2017 by three leaders in Web3 and decentralized computing: Evgeny Ponomarev, Dmitry Kurinskiy, and Tom Trowbridge. Evgeny specializes in crypto-economics and protocol design, Dmitry is an expert in distributed systems, and Tom brings business strategy experience. Together, they created Fluence to build a decentralized cloud platform that offers an open alternative to traditional cloud services.

Investors in Fluence

Fluence has raised a total of $15 million since its founding in 2017. Key investors include Multicoin Capital, which led a $9 million Series A round. Other notable investors are Arweave, Inception Capital (British Virgin Islands), M31 Capital Partners, Polymorphic Capital, Alameda Ventures, Angel DAO, Hard Yaka, LayerX, OP Crypto, Peer VC, Protocol Labs, Signum Capital, Stakely, StreamingFast, Tiger Global, UOB Venture Management, Zerion, 1kx, Blockchange Ventures, Dekrypt, Distributed Global, and Inblockchain. These investors have supported Fluence to accelerate development and expand its decentralized computing platform.

Halal Status of Fluence

• Fluence is a decentralized, open-source blockchain-based platform.
• There is no specific Shariah screening or certification information available for Fluence.
• Islamic finance principles require crypto projects to avoid interest (riba), gambling (maysir), and excessive uncertainty (gharar), and to have transparent, ethical governance.
• Since Fluence’s compliance with these principles is not explicitly verified or listed among known halal cryptocurrencies, its halal status cannot be confirmed.

Answer: No, there is no clear evidence that Fluence is halal according to Islamic finance guidelines.