In today's interconnected financial landscape, the global Muslim community of approximately 1.9 billion people grapples with a unique challenge: harmonizing Islamic finance's core principles with modern, interest-reliant economic systems. Enter Islamic Coin (ISLM), the native token of HAQQ. The cornerstone of this Shariah-compliant cryptocurrency lies in the Shariah Oracle, ensuring every transaction adheres to Islamic law, eliminating the need for interest, and establishing a genuinely ethical financial instrument. Beyond just removing interest, Islamic Coin is integrated with an Evergreen DAO to channel funds into Islamic social causes, allowing for governance that invests in ethical, community-focused initiatives.
Let’s dive into the various facets of the ISLM token's tokenomics, including its unique features and benefits that set it apart from existing financial instruments.
What is Tokenomics?
If you are new to the decentralized finance realm, here’s a quick overview of the essence of tokenomics. If you are a DeFi native, skip to the next section.
Tokenomics defines the economic model that governs a digital asset. More than just allocating tokens for various purposes, it establishes the framework for how a token will operate, how it gains and holds value, and how it interacts within the ecosystem it's part of. It influences everything from supply distribution to utility functions and the project's long-term viability. Understanding the distribution strategy, for example, is vital for token holders. It’s important to know who controls most of the supply and how those tokens will be distributed over time. It helps them gauge factors like market manipulation and the stability of the asset.
Furthermore, the governance structure around a token is essential. In the case of ISLM, governance is handled by the Evergreen DAO (Decentralized Autonomous Organization), a non-profit foundation aiming to foster long-term sustainability and community impact. This aligns with the broader Islamic principles emphasizing ethical finance and community development. More on the Evergreen DAO later.
Crucial to the ISLM tokenomics. The Proof of Stake (PoS) mechanism allows HAQQ holders to participate in the network consensus alongside validators. Stakers in the ISLM network are individuals or entities that lock a certain amount of their ISLM tokens in a staking mechanism. This enables them to participate in network governance, primarily via the Haqqers DAO, and earn staking rewards. Staking thus aligns with Islamic principles by allowing participants to be part of ethical finance mechanisms rather than simply holding assets that accrue interest. Islamic Coin may only be minted (issued) by those who contribute work and investment – validators and stakers of the network at a predetermined announced rate.
Validators are a more specialized set of network participants responsible for verifying and adding new transactions to the blockchain. These validators are chosen through a decentralized consensus mechanism. In the case of ISLM, these entities are especially crucial, as they help uphold the network's commitment to ethical financial practices, ensuring that each transaction aligns with Islamic law. ISLM bonders are validators who have "bonded" or locked up a certain amount of ISLM tokens as collateral.
ISLM Tokenomics
Islamic Coin (ISLM) is the native currency of HAQQ. It is used for paying transaction fees, governance, and staking. You can use ISLM tokens for various financial activities such as trading, lending, and staking, primarily within platforms that support the ISLM network. HAQQ and Islamic Coin are compatible with Ethereum, EVMOS, Cronos, Osmosis, and other chains operating on the Cosmos SDK. However, it's worth noting that the token is incompatible with platforms that engage in activities contrary to Islamic financial laws, such as Riba (interest) or Gharar (excessive uncertainty)
Initial Coin Distribution
The ISLM token starts with an initial minted supply of 20 billion coins, and the total supply is limited to 100 billion coins. The genesis block has been minted and distributed to private sale participants, early-stage partners, ambassadors, founders, and business reserves. Distribution is as follows: Business Reserve and Ecosystem Development Fund: 5.48 Billion Coins Reserved for future innovation, grants, and ecosystem enrichment. (1 billion is reserved for future Core Team incentives).
Partners: 5.47 Billion Coins For strategic relationships that drive network growth and ecosystem vitality.
Private Sale Buyers: 3.93 Billion Coins Intended for early investors, serving to jump-start initial development and operations.
Founders Compensation: 3 Billion Coins To compensate the founding team for their resource commitment and innovative drive.
Evergreen Foundation: 2 Billion Coins Allocated to ensure the network's longevity and ethical adherence to Islamic principles.

Block Rewards and Gas Fees
In the HAQQ ecosystem, block rewards serve as a pivotal incentive mechanism. Every time a block is added to the blockchain, it not only adds a set of new transactions but also generates new ISLM coins and gas fees. The distribution of these newly minted coins and collected fees is as follows:
Evergreen DAO: A fixed allocation of 10% of block rewards and gas fees goes to the Evergreen DAO. This DAO focuses on projects that align with Islamic principles, serving as a cornerstone for the network's vision.
Haqqers DAO: The allocation to Haqqers DAO ranges from 16.9% to 62.6%. The Haqqers DAO serves as a funding pool specifically designed for projects that are part of the Haqq ecosystem. Governed by ISLM stakers through a governance module, this DAO plays a significant role in directing the network's development trajectory, ensuring that projects aligning with the network's principles receive the necessary funding.
Remaining Distribution: After allocating to the two DAOs, the remaining part, which varies from approximately 27.4% to 73%, is divided as follows: Block Proposer and its Delegators: 5% of this remaining portion is given to the entity that successfully proposed the new block and its delegators. Bonded Validators and Their Delegators: The rest is distributed proportionally among all bonded validators and their delegators.

Reward Structure for Delegators
For delegators who have chosen to stake their ISLM coins with bonded validators, rewards are calculated proportionally based on the amount of their delegation relative to the total amount delegated to the validator. This total amount includes the validator's self-delegation. These rewards are given to the delegators after deducting the validator's commission. This ensures a balanced incentive mechanism that encourages long-term participation while compensating for the validator's role in block validation and transaction processing.
Staking and Governance
Staking in ISLM: How It Works
Staking is a critical feature in blockchain ecosystems that use a Proof-of-Stake (PoS) consensus algorithm. In ISLM's network, staking refers to locking up ISLM tokens in a smart contract to participate in the network’s governance and receive rewards. This locked-up amount acts as collateral and earns interest over time.
The staking process in the ISLM ecosystem allows you to delegate your ISLM tokens to a validator of your choice on the HAQQ. Once staked, your tokens validate transactions, secure the network, and implement governance decisions. In return, you earn staking rewards.
Excitingly, ISLM staking is now more accessible and potentially rewarding than ever, thanks to HAQQ's integration with REStake.app. This platform simplifies the staking process by providing an overview of all available validators, aiding you in making informed decisions. One notable feature of REStake.app is its ability to automate the compounding of your staking rewards. Instead of manually claiming and reinvesting your earnings, you can authorize your chosen validator to auto-compound your rewards. This feature is highly beneficial for maximizing returns, thanks to the wonders of compounded growth.
HAQQ has also partnered with Brighty, a leading fintech platform known for its comprehensive financial services, such as IBAN accounts, crypto wallets, and instant currency exchange. With this partnership, Brighty aims to tap into the Islamic Finance market, offering Islamic Coin (ISLM) accounts and enabling staking mechanisms. With Brighty, you can soon transact in Shariah-compliant crypto tokens like ISLM and partake in staking. Soon, this partnership promises to introduce services like linked cards, thereby making ISLM tokens even more accessible.
Governance through Evergreen DAO
In blockchain networks, governance refers to the mechanisms by which decisions are made, typically through proposals and voting. The Evergreen DAO (Decentralized Autonomous Organization) aims to fund various initiatives beneficial to the global Muslim community. Any staker of ISLM tokens can submit proposals, and these proposals are expected to first go through an off-chain discussion board for preliminary vetting and discussion. Following this, they are submitted to the Evergreen DAO with relevant metadata, which includes the spending amount and target. The Governance structure is as follows: Deposit Period: A proposal needs an initial deposit to be considered. If the minimum deposit is not met within a set time, the proposal is closed and transferred to Evergreen DAO.
Voting Period: A voting period is initiated once the minimum deposit is reached. The options are Yes, No, NoWithVeto, and Abstain. Initially, the threshold is set at 50% with a possibility to veto if more than 1/3rd of votes (not including abstentions) are NoWithVeto.
Shariah Approval Period: Post voting, the HAQQ Shariah Board reviews the proposal for its compliance with Islamic Law.
Unlike other DAOs, the Evergreen DAO has a unique component: the HAQQ Shariah Board. This board has the authority to review and approve each spending proposal to ensure it aligns with Islamic principles. If the Shariah Board approves a proposal, it gets executed, and coins are transferred to the destination defined in the proposal. If the Shariah Board rejects the proposal, coins stay in Evergreen DAO. If the Shariah Board doesn’t submit a decision in 21 days, a proposal gets automatically rejected, and coins remain in Evergreen DAO. Typically, in DAO governance models, deposits are often burned if a proposal fails. However, within Evergreen DAO, these deposits are transferred back to the DAO, supporting its long-term sustainability.
For more information on the ISLM tokenomics, please visit, download, and read details on whitepaper.
#IslamicCoin #BTC #ETH #Binance #crypto2023

In the dynamic world of cryptocurrencies, a groundbreaking development is set to emerge, poised to revolutionize Islamic finance: Islamic Coin (ISLM). This Sharia-compliant digital currency, scheduled for release on September 1, 2023, has already garnered substantial attention and funding, making it a cryptocurrency worth watching closely.

A Unique Offering for a Global Market

Islamic Coin enters the cryptocurrency scene with a unique proposition - it's the first digital currency to fully adhere to the principles of Sharia law. Developed by the Haqq Blockchain, ISLM is designed to cater to the values of practicing Muslims, a market estimated to encompass over 1.2 to 2 billion individuals worldwide.

Sharia compliance in the financial realm translates into a commitment to ethical principles such as profit-sharing, clear contract terms, and avoiding activities resembling gambling or speculation. Moreover, ISLM ensures that the underlying businesses are socially responsible, promoting societal well-being and environmental sustainability. This alignment with Islamic values sets the stage for ISLM's role in reshaping how financial transactions occur within the Muslim community.

Challenges and Opportunities

While the potential market for Islamic Coin is substantial, it's important to acknowledge potential challenges. Recent studies suggest a shifting landscape in certain regions, where ties to Islam are loosening, especially among the younger generation. This raises questions about whether the Sharia-compliant nature of the coin will be sufficient to attract widespread adoption.

Expert opinions vary, with some believing that ISLM needs to demonstrate significant utility beyond its alignment with Islamic law to gain traction. Like Bitcoin, its appeal may extend beyond the religious aspect. Dr. Anas Iqtait, an expert on Islamic Finance, emphasizes the importance of harnessing the crypto sector's potential growth, highlighting the Middle East's role in this endeavor.

The Path Forward: Technology and Vision

Islamic Coin operates on the Haqq blockchain, an "ethical Web3" that emphasizes autonomy, immutability, and decentralization. Powered by a proof-of-stake (PoS) mining mechanism, ISLM ensures energy efficiency, contrasting with the high energy consumption associated with Bitcoin's proof-of-work approach.

The coin's total supply, according to the ISLM whitepaper, will reach 100 billion tokens, with gradual reductions over time to create scarcity, value, and prevent excessive inflation. The emission rate will decrease by 5% every two years, leading to a capped total 100 years from its inception.

A Pillar of Stability for a Changing World

In the words of ISLM Co-Founder Mohammed Alkaff, Islamic Coin is poised to deliver a "pillar of stability, intertwined with values that are future-proof in a changing world." By integrating with 20 payment firms in the Middle East and North Africa (MENA) region by Q4 2023, the project is making strides toward establishing its presence.

While ISLM's potential to rival Bitcoin remains uncertain, its unique combination of Sharia compliance, ethical financial practices, and cutting-edge blockchain technology holds promise. The journey ahead involves not only competing with established Islamic financial institutions but also navigating diverse opinions within the Muslim community.

As Islamic Coin seeks to reshape the landscape of Islamic finance, the cryptocurrency world is watching closely to see if it can transcend the realm of a hopeful contender and emerge as a pioneering force in the global crypto market.

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#IslamicCoin #IslamicFinance #Crypto2023 #DeFi #Web3

Find more: https://islamiccoin.net/

I will be discussing the significant potential Islamic Coin #Airdrop today. This project has received close to $400 million in funding. And a real fly in the ointment. HAQQ, an Islamic coin airdrop. The impact of an airdrop might be enormous.

Based on Cosmos SDK, HAQQ is a chain that is equivalent to an EVM. Any smart contract established on another EVM chain can be put onto the new network without any modifications thanks to the technology behind HAQQ. To build a more equitable and sustainable financial system, HAQQ is balancing a Shariah-compliant ideology with cutting-edge technology. Change was fueled by Muslims and ESG, and HAQQ is in charge of it. Muslim Coin Drop HAQQ.

What’s Islamic Coin?

#Islamic coin is the default currency of HAQQ, a community-run network committed to enabling a Shariah-compliant financial environment that prioritizes ethics. The overall quantity of Islamic Coin is limited, and 10% of each issuance is automatically set aside for charitable causes.

– Blockchain: HaqqNetwork 

– Native Coin: Islamic Coin 

– Total Funding: $400M 

– Launch: September

Step by Step to Claim ISLM Airdrop

 

1) Follow them on Twitter

Haqq Network 

Islamic coin

2) Join their Telegram

3) Join their Discord

4) How to get Wallet

- Available on both Apple iOS & Android store

- Search “Haqq Wallet” & download

5) How to set it up?

After download

Click create account.

Set up Passcode

Back up your seedphrase

Done

6) Earn on App by staking

Claim “ISLM Gas” on the app

Go to “Earn” on the app

Click on “Monthly Raffle”

Click staking 

Select a Validator

Click on delegate

Confirm delegate

7) Testnet Guide.

Connect Wallet (Metamask)

Connect your Github account

Request token from testedge2. haqq. network

8)    Select a Validator

Click on Delegate

Confirm

9) Complete the Tasks on Guild

10) Complete the Tasks on Galxe

#IslamicCoin #HAQQWallet #crypto #DeFi #Web3

Hey there, curious minds! Let's dive into the intriguing world of #IslamicCoin (ISLM) and the recent regulatory buzz surrounding it. I stumbled upon this notice from the Virtual Assets Regulatory Authority (VARA) dated October 4, 2023, and boy, does it have some interesting updates about Bored Gen DMCC (BG).
So, VARA has been on the case, investigating the issuance, marketing, and distribution of ISLM by BG and its affiliates. It's like a financial detective story, and we, the readers, are here for the plot twists. The notice informs us that the activities under investigation have reached a conclusion.
Now, let's give credit where it's due. Bored Gen DMCC seems to have been quite cooperative throughout VARA's scrutiny. They've even taken the initiative to address the issues identified in the investigation.
However, it's not all sunshine and rainbows for BG. VARA is playing the strict parent here, stating that until BG gets the green light, there's a no-go for promoting or facilitating access to the domestic market for ISLM in Dubai. Approval, folks, is the name of the game. #Regulation
BG can still carry on with their non-virtual asset (VA) activities, as long as they keep VARA in the loop and toe the line with all those regulatory requirements. It's like VARA is saying, "You can play in the sandbox, just make sure you play by the rules." #Web3
Now, before you start making any hasty decisions, here's the disclaimer: this alert is just a heads-up about Bored Gen DMCC's regulatory status. It's not a substitute for your own due diligence. If in doubt, seek professional advice. #CryptoAnalysis
In the grand scheme of things, it seems like BG is navigating the regulatory waters, and VARA is playing the role of the watchful guardian. The drama continues, and we'll be keeping an eye on how this unfolds. Stay tuned for more financial rides, folks! #Bitcoin
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In the rapidly evolving landscape of cryptocurrencies and blockchain technology, one project has been gaining significant attention from venture capital firms: Islamic Coin. This Shariah-compliant digital currency,built on the HAQQ Network,is designed to create value for the global Muslim community while adhering to Islamic financial principles.What is it about Islamic Coin that has piqued the interest of venture capitalists ? In this article,we will delve into the key factors attracting investors to this unique cryptocurrency.

Alignment with Islamic Finance Principles:

One of the foremost reasons behind the growing interest in Islamic Coin is its strict adherence to Islamic finance principles. Traditional cryptocurrencies often face scrutiny due to their compatibility with Islamic law. Islamic Coin addresses this concern by ensuring that its design and operation comply with Shariah guidelines. For investors who prioritize ethical and faith-based investments, Islamic Coin offers a compelling opportunity.

Deflationary Nature and Scarcity:

Similar to gold and silver, which are mentioned in the Quran as examples of worldly pleasures, Islamic Coin possesses a deflationary nature. This is in contrast to fiat currencies that can be subject to inflationary pressures. The deflationary properties of Islamic Coin make it an attractive store of value, akin to precious metals, which is appealing to investors seeking stability and preservation of wealth.

Decentralised Governance and Fair Market Pricing:

Islamic Coin operates on a decentralized model, free from the control of central banks. This decentralization ensures that the currency cannot be arbitrarily printed, leading to devaluation. The price of Islamic Coin is solely determined by market forces, fostering a transparent and fair marketplace. Venture capitalists are drawn to this aspect as it aligns with the principles of a free and open economy.

Contribution-Based Minting:

Islamic Coin introduces a novel concept where new coins are minted (issued) by those who contribute work and investment to the network, such as validators and stakers. This mechanism ensures that the creation of new coins is tied to real value and effort, which resonates with investors looking for sustainable and merit-based growth.

Philanthropic Initiatives Through Evergreen DAO:

A unique feature of Islamic Coin is the allocation of 10% of newly minted coins to a special Evergreen DAO, dedicated to investing in Islamic projects and supporting Islamic charities. This philanthropic approach not only fosters community development but also appeals to investors who prioritize projects with a positive social impact.

Compatible with Leading Blockchain Technologies:

Islamic Coin and the HAQQ Network are built on top of Cosmos SDK and are compatible with Ethereum. This interoperability opens up a world of possibilities for developers and users alike, making Islamic Coin a versatile digital asset with vast potential for growth.

Conclusion:

The growing interest of venture capital firms in Islamic Coin is a testament to its unique value proposition. Investors are attracted to its alignment with Islamic finance principles, deflationary nature, decentralized governance and philanthropic initiatives. As the cryptocurrency market continues to evolve, Islamic Coin stands out as an innovative and ethical choice for investors looking to support a project that combines financial innovation with social responsibility.

For more information visit https://islamiccoin.net

#crypto2023 #Binance #IslamicCoin #HAQQ

In the ever-evolving landscape of the blockchain ecosystem, a notable movement is taking shape, characterized not only by technological innovation but also by a strong commitment to ethical values. Amidst this rapid transformation, a beacon of integrity has emerged, dedicated to safeguarding individual rights and upholding cherished principles.

This movement recognizes the significance of genuine ownership in the global digital financial realm. Consider the Web3 wallet, which serves as more than just a storage system; it symbolizes a personal stake in the burgeoning digital domain. However, the reality is that numerous wallets in existence, despite their impressive features, operate under concealed influences. This often leaves the true owners with limited control and transparency regarding the use of their assets and data.

In an era dominated by decentralized finance, there is a pressing need to bridge the gap between technological advancements and ethical considerations. This endeavor involves merging the fundamental tenets of decentralized finance with the principles underpinning ethical and Islamic finance, resulting in a pioneering approach.

Introducing the HAQQ Wallet: an elegant fusion of Ethics and Finance. This is not merely a wallet but an extension of one's core values. Through this innovative solution, users can rest assured about the impregnable security of their data and enjoy the authority to regulate its access and utilization.

Why remain a passive participant in the expansive digital realm when you can assert your sovereignty within it? Unlike many alternatives, the HAQQ wallet places a strong emphasis on ethics, ensuring that every transaction aligns harmoniously with individual principles. This call to action invites individuals to champion a new frontier where they wield true control over their digital legacy.

#IslamicCoin #IslamicFinance #Crypto2023 #Web3 #DeFi

Hello, fellow crypto enthusiasts!
Today, I stumbled upon something in the blockchain space that really excited me, and I can't wait to share it with you. Picture a world where ethical finance meets cutting-edge technology, resulting in a seamless interconnected web3 ecosystem. Well, it's happening!
This summer, in June, I came across information about the collaboration between HAQQ and Axelar: "Enhanced cross-chain compatibility for ethical finance." Unusual, right? But what does it really mean? #Web3
In a nutshell, as the decentralized finance (DeFi) movement gains momentum, the ability for value to be seamlessly transferred across different blockchains becomes crucial. HAQQ, a leading Sharia-compliant ecosystem focusing on ethical finance and sustainable investment methods, has joined forces with Axelar, a platform mastering secure inter-network interaction. #DeFi
I know what you're thinking – why should this matter to me? Well, my friends, this collaboration opens up a whole world of possibilities. The native HAQQ token, Islamic Coin (ISLM), will soon spread its wings beyond its ecosystem. Thanks to Axelar's technology, it will effortlessly move between different blockchain networks, providing access to ethical finance for a wide audience. #IslamicCoin
But that's not all. The article details the benefits this integration will bring to other projects utilizing HAQQ. Imagine your favorite decentralized application (DApp) effortlessly operating across multiple networks. Yes, it's happening soon. Additionally, the HAQQ ecosystem will include USDC, adding another stable coin to its repertoire. #HAQQNetwork
And here's the kicker! Sharia-compliant lending is being considered on HAQQ—no interest, just profit and loss agreements.
HAQQ is preparing Sharia-compliant gold-backed tokens, offering a stable alternative to the volatile world of traditional finance. With Axelar's involvement, these tokens can conquer numerous networks.#ETH
HAQQ is working on integrating Axelar's "1-click" feature into its wallet. Imagine asset exchanges between blockchains with just one tap, all while adhering to ethical standards. In short, the collaboration between HAQQ and Axelar is a significant opportunity, uniting to save the financial world.
However, this is just the first part of the journey. The world of decentralized finance is evolving, and HAQQ and Axelar are taking one ethical step after another. There's much more exciting stuff ahead, and I'm already looking forward to the continuation.
Remember that ISLM is not available to residents of Dubai.
Disclaimer: This article does not constitute an offer to sell, solicit an offer to buy, or recommend any securities, goods, or services. It is not investment advice. Please conduct your own research.
$BTC $ETH $USDC

In the realm of blockchain and cryptocurrency,innovative concepts continue to reshape traditional norms.One such groundbreaking initiative is the Evergreen DAO,an embodiment of the Islamic principles of philanthropy and sustainable development.This article delves into the visionary concept of Evergreen DAO,exploring how it is revolutionizing the landscape by fueling Islamic projects and charities with a steadfast commitment to long-term community impact.

The Essence of Evergreen DAO:

Evergreen DAO stands as a testament to the fusion of blockchain technology and Islamic values.At its core,the DAO (Decentralized Autonomous Organization) serves as a virtual foundation dedicated to sustainability and empowerment.But what truly sets Evergreen DAO apart is its unique focus on Islamic projects and charitable endeavors.

Philanthropy Meets Sustainability:

The central mission of Evergreen DAO is to create a self-sustaining ecosystem where financial resources are perpetually reinvested to generate positive societal change.Unlike conventional charities that rely on periodic donations,Evergreen DAO harnesses the power of cryptocurrency to establish a crypto endowment that continuously funds worthy Islamic initiatives.This enables a long-term commitment to social welfare and innovative projects within the Islamic community.

Community-Druven Decision-Making:

Key decisions within Evergreen DAO are not governed by a central authority but rather by a council of the top validators from the #HAQQ blockchain,ensuring a democratic and community-driven approach.This decentralized decision-making mechanism ensures that the interests and aspirations of the broader Islamic community are at the heart of every allocation.

Direct Economic Value for the Community:

One of the most remarkable aspects of Evergreen DAO is its financial model. A portion of the newly minted Islamic Coins ($ISLM) is deposited into the DAO every time a new coin is created.This infuses the DAO with a perpetual source of funding,ensuring that it can continuously support Islamic projects and charitable initiatives.This symbiotic relationship between cryptocurrency and social impact generates direct economic value for the global Muslim community.

Elevating Islamic Projects:

Evergreen DAO's support is not limited to a single sector;rather,it spans a diverse range of Islamic projects.From educational platforms and research initiatives to technological advancements and cultural preservation efforts,the DAO's contributions are poised to catalyze transformative change across various fields.

Conclusion:

The Evergreen DAO embodies a new era of philanthropy,where blockchain technology intersects with Islamic principles to create lasting positive change.Its role as a crypto endowment,perpetually fueling Islamic projects and charities,marks a paradigm shift in how societal welfare can be approached. As the Evergreen DAO continues to evolve and empower,it solidifies its place as a beacon of hope and progress within the global Islamic community.

For more information visit Islamic Coin website : https://islamiccoin.net

#blockchain #cryptocurrency #IslamicCoin #IslamicFinance

$BTC $ETH $BNB

Hey there,

So, I started this journey into the world of #IslamicFinance and #DeFi out of curiosity about this new direction in the financial realm. Over the years, Islamic finance has been growing due to the interest in financial instruments that spread risks and are grounded in ethical principles. This uniqueness has made them stable and significant, catching the attention of market participants worldwide.

Now, DeFi has been changing how we think about finance by offering a decentralized platform for financial transactions. However, this path has also faced challenges, like the recent crisis involving #Curve . This crisis highlighted the importance of implementing ethical principles and risk-sharing in DeFi. The existing issues and losses associated with the crisis reminded us of the need to build robust financial mechanisms that adhere to principles, promoting stability and trust within the system.

During my exploration, I came across the Islamic Coin project, which combines Islamic financial principles with DeFi technology. This project isn't just providing a solution; it's reshaping and expanding our understanding of DeFi's potential.

The Islamic financial principles that underpin Islamic Coin play a vital role in constructing this ecosystem. The prohibition of Ribā has turned all operations into trading rather than credit-based, reducing risks and promoting fair distribution of benefits. The prohibition of Gharar ensures honesty and transparency in agreements, while the exclusion of Maisir helps avoid unnecessary risks that threaten stability.

I believe that the Islamic financial principles embodied in Islamic Coin have the potential to change the world of finance. This project isn't just creating an opportunity to participate in DeFi; it's also helping ensure compliance with ethical and socially responsible standards.

As I journey through the realm of DeFi technologies, I've found a reliable companion in #IslamicCoin , which provides secure and efficient financial transactions. #HAQQWallet has become a crucial tool in this journey, enabling transactions in line with Islamic financial principles.

In this way, the Islamic Coin isn't just offering new opportunities for market participants; it's also taking the first step toward transforming DeFi into an ethical, stable, and responsible ecosystem. Together, we can change the world of finance by creating a space where ethics and technology come together to achieve common goals.

Islamic Coin, a Shariah-compliant, ethics-first, digital money that has been featured globally, has announced it is working with Republic Crypto, the web3 advisory group within global digital finance leader, Republic.

The collaboration includes white-glove support to promote Islamic Coin’s go-to-market strategy, along with advisory services focused on tokenomics, DAO governance, and long-term economic utility value. Republic Crypto will also help engage with potential strategic partners, exchanges, and market makers.

Fine-tuning the Islamic Coin value proposition, Republic Crypto advised on creating fair and Shariah-compliant allocation options, distribution, and other mechanisms aimed at adding to the sustainability features in the ecosystem.

Separately, Islamic Coin plans to conduct a Reg D public token offering facilitated by OpenDeal Broker on Republic’s retail investment platform in September 2023. Upon public launch, Islamic Coin’s international community will reap various advantages, including options to offer liquidity, stake their holdings, and gain tokens during the liquidity mining stage.

The Advisory Board of Islamic Coin is steered by members of ruling families of the UAE, including the grandson of UAE founder, Sheikh Dr. Hazza bin Sultan bin Zayed Al Nahyan, the country’s Navy Chief, Sheikh Saeed bin Hamdan bin Mohammed Al Nahyan (serving in a private advisory capacity), Sheikh Khalifa Bin Mohammed bin Khalid Al Nahyan, Sheikh Mohammad Bin Khalifa Bin Mohammad Bin Khalid Al Nahyan, His Highness Sheikh Juma bin Maktoum Al Maktoum, and Her Highness Sheikha Mariam Suhail Obaid Suhail Al Maktoum.

The Executive Board is also composed of experts from both traditional and Islamic finance. It humbly highlights Emaar’s Hussein Al Meeza (also a co-founder), an award-winning banker with over four and a half decades of experience across the Islamic banking, finance, and insurance industries. He was a key figure in the establishment of the Dubai Islamic Bank, one of the first fully operational Islamic Banks. The Executive Board is further strengthened by Khamis Buharoon AI Shamsi, the former Assistant Director of the Finance Division, and Assistant Director of the Internal Audit Division of the Central Bank of the UAE. Adding to the team’s robust profile, Greg Gigliotti, CEO, Chief Investment Officer, and Founding Partner of Xtellus Advisors. With a rich background at Goldman Sachs and other global institutions, Gigliotti has managed a portfolio exceeding $16 billion throughout his career.

The Reg D offering is slated for September 2023.

#IslamicCoin #IslamicFinance #Crypto2023 #Web3 #DeFi

Sponsored by

In the ever-evolving world of cryptocurrencies and blockchain technology, a novel digital asset has emerged that holds a unique appeal to the global Muslim community - Islamic Coin (ISLM). Build on the dedicated Islamic blockchain HAQQ Network.Islamic Coin strictly adheres to Islamic views and traditions on finance,offering a Shariah-compliant solution for Muslims seeking an independent and ethical financial system.

Understanding Islamic Coin's Shariah-Compliant Framework:

Islamic Coin is rooted in the principles of Islamic financial law or Shariah law,which forbids paying or charging interest.Unlike traditional financial systems,Islamic Coin operates on a decentralized network without a central bank,ensuring that the digital currency cannot be arbitrarily printed or devalued.Instead,the price of Islamic Coin is determined solely by market forces,promoting fairness and transparency in its value.

The Prohibition of Interest in Islam:

At the core of Islamic Coin's ideology lies the prohibition of interest,a fundamental principle in Islamic finance.Interest (Riba) is seen as exploitative and harmful,leading to wealth accumulation without actual economic productivity.By adhering to this prohibition,Islamic Coin seeks to offer an alternative financial instrument that aligns with the ethical values of the Muslim community.

The Deflationary Nature of Islamic Coin:

Islamic Coin's deflationary nature is comparable to the properties of precious metals like gold and silver,which are mentioned in the Quran as examples of the worldly pleasures.Unlike fiat currencies subject to inflation,Islamic Coin's emission rate decreases over time.Every Era (a two-year period),the emission rate is reduced by 5%,ensuring a limited supply of 100 billion coins.The emission will stop 100 years from the first Era,signifying a long-term approach to sustainability.

The Evergreen DAO and Philanthropy:

One of the pioneering aspects of Islamic Coin is the establishment of the Evergreen DAO,a non-profit virtual foundation dedicated to long-term sustainability and community impact.This DAO functions as a crypto endowment and is funded through the minting of new Islamic Coins.Each time a new coin is minted,10% of the issued amount is deposited into the Evergreen DAO,where funds are further invested in Islamic projects or directed towards Islamic charities.This innovative approach bridges the gap between blockchain technology and philanthropy,bringing direct economic value to the global Muslim community.

HAQQ Network and Staking:

Islamic Coin serves as the native currency of HAQQ Network,a dedicated Islamic blockchain. Validators maintain the HAQQ Network through a process called staking,where ISLM coins are locked and bonded to these validators.Stakers,who become delegators,delegate voting power to validators and earn rewards while participating in governance.This decentralized approach empowers the community and ensures the integrity of the HAQQ Network.

Empowering the Global Muslim Community:

Islamic Coin's unique features present an opportunity for the global Muslim community to embrace an independent and transparent financial system that aligns with their religious beliefs.By adhering to Shariah law and prohibiting interest,Islamic Coin empowers Muslims to conduct financial transactions with confidence, free from ethical dilemmas.

Furthermore,the Evergreen DAO's focus on philanthropy and funding Islamic projects showcases a commitment to supporting initiatives that benefit the Muslim community at large.This combination of blockchain technology and social responsibility marks a significant step towards creating economic value and promoting social welfare in the Islamic world.

A Path to Long-Term Sustainability:

Islamic Coin's deflationary model and limited supply play a crucial role in promoting long-term sustainability and value appreciation.With a gradual reduction in the emission rate over successive Eras,the coin's scarcity increases,potentially leading to a growth in its value over time.This deflationary mechanism aims to mitigate the risks associated with inflation and ensure that the economic interests of Islamic Coin holders are safeguarded.

Conclusion:

Islamic Coin (ISLM) represents a groundbreaking financial instrument that aligns with Islamic values and traditions,offering a Shariah-compliant alternative for the global Muslim community seeking independent financial interactions.With its deflationary nature,ethical framework and emphasis on philanthropy,Islamic Coin has the potential to become a valuable and empowering crypto asset for its holders.As the world embraces the transformative potential of blockchain technology,Islamic Coin stands out as a beacon of innovation,bridging the gap between the principles of Islam and the possibilities of the digital age.By fostering financial independence and promoting philanthropy,Islamic Coin paves the way for a more inclusive and sustainable future for the global Muslim community.

For more information visit official website of Islamic Coin :

https://islamiccoin.net

$BTC $ETH $ISLM

#IslamicCoin #Haqq #BTC #BNB #googleai

Read this article to know how works Evergreen DAO Governance for the #Haqq Community

Introduction: Evergreen DAO is a decentralized autonomous organization that governs the Haqq Community and operates under the principles of the Haqq Shariah Board. This article explores the governance structure of Evergreen DAO, highlighting its key differences from default Cosmos Governance. The unique aspects of Evergreen DAO’s governance model include the exclusive authority of the Haqq Shariah Board to approve spending proposals, financial incentives for high-quality proposals benefiting the Muslim Community, and the non-burning nature of deposits. Let’s delve into the various phases and processes involved in the governance of Evergreen DAO.

Spending Proposal Submission: Any ISLM staker within the Evergreen DAO ecosystem can submit a spending proposal. Before submission, the proposal should undergo discussion on an off-chain board. Once finalized, the proposal, along with relevant metadata such as spending amount and target, is submitted to the governance module.

Deposit Period: Proposals in Evergreen DAO require a deposit, similar to default Cosmos governance. The deposit must be made in the specified coins defined in the MinDeposit parameter. The voting period commences only when the proposal’s deposit reaches or exceeds the MinDeposit threshold. While the submitter can initiate the deposit, other token holders can contribute to it by sending a Deposit transaction. The deposit amount is held in an escrow within the governance ModuleAccount until the proposal is finalized.

Voting Period: The voting period follows the standard Cosmos governance process. Once the proposal reaches the MinDeposit threshold, it enters the Voting Period. During this phase, participants (bonded ISLM holders) can cast their votes as Yes, No, “No With Veto,” or “Abstain.” The “No With Veto” option is considered equivalent to a No vote but also adds a veto. Abstain votes indicate neutrality, accepting the outcome of the vote without expressing a preference.

Quorum and Threshold: Quorum represents the minimum percentage of voting power required for a proposal’s result to be valid. Threshold, on the other hand, refers to the minimum proportion of Yes votes (excluding Abstain votes) needed for a proposal to be accepted. Initially set at 50%, proposals can be vetoed if more than one-third of the votes (excluding Abstain votes) are No With Veto votes. Thus, for a proposal to be accepted, the proportion of Yes votes (excluding Abstain votes) must exceed 50%, and the proportion of No With Veto votes must be below one-third (excluding Abstain votes).

Inheritance: If a delegator does not vote, their vote inherits that of their validator.

Shariah Approval Period: Once a proposal passes the Voting Period, it proceeds to the Shariah Approval Period. During this phase, the Haqq Association Shariah Board evaluates the proposal’s compliance with Shariah Law. If approved, the proposal is executed, and the designated coins are transferred to the specified destination. However, if the Shariah Board rejects the proposal, the coins remain within Evergreen DAO. If the Shariah Board fails to submit a decision within 21 days, the proposal is automatically rejected, and the coins stay in Evergreen DAO.

Deposit Refund and Seizure: At the conclusion of a proposal, the coins from the deposit are either refunded or transferred to Evergreen DAO, unlike in default Cosmos governance where coins are burned. If the proposal is approved or rejected (without veto) during the Voting Period, the deposit is automatically refunded to the respective depositor. In the case of a veto by a supermajority, the deposit is transferred to Evergreen DAO. If the proposal fails to reach the MinDeposit threshold during the Deposit Period, the deposit is also transferred to Evergreen DAO.

Conclusion: Evergreen DAO

is an innovative governance system designed for the Haqq Community, incorporating the principles of the Haqq Shariah Board. By enabling the approval of spending proposals, providing financial incentives for impactful proposals, and preserving deposits in the event of failures, Evergreen DAO ensures a transparent and community-driven decision-making process. Through the Deposit Period, Voting Period, and Shariah Approval Period, the governance model facilitates active participation and consensus among ISLM stakers. The unique features of Evergreen DAO contribute to its goal of fostering a robust and inclusive ecosystem that aligns with the values of the Muslim Community.

#IslamicCoin #IslamicFinance #Crypto2023 #Binance

The world of decentralized finance (DeFi) is evolving, and a groundbreaking development has caught the attention of supporters and enthusiasts alike.The integration of Satellite, powered by Axelar Network,now allows for seamless USDC transfers between Ethereum and HAQQ,marking a significant stride in the path towards a more inclusive and diverse decentralized financial ecosystem.Section 1: The Rise of Cross-Chain TransfersIn recent times,the importance of cross-chain interoperability has become increasingly evident.Satellite.money provides a bridge between Ethereum and HAQQ,opening up new possibilities for supporters of decentralized finance. This integration facilitates smooth and secure USDC transfers,eliminating the barriers that once hindered seamless transitions between blockchains.Section 2: To embark on this transformative journey, supporters can follow a simple step-by-step guide.Begin by visiting satellite.money and selecting 'Ethereum' as the starting chain and 'HAQQ' as the destination.Connecting and unlocking your MetaMask or compatible wallet ensures a secure transaction process.Input the desired USDC amount, witness the magic of transformation into axlUSDC on HAQQ with your Keplr Wallet, and verify the generated deposit address for a successful transfer.Section 3: Celebrating Success: A Shariah-Compliant DeFi ExperienceUpon completion of the transfer,supporters join a community championing Shariah-compliant decentralized finance.This marks the beginning of a new era in which financial transactions align with ethical principles.Congratulations are in order as supporters actively contribute to this paradigm shift,promoting financial inclusion and diversity within the crypto space.Section 4: The Swift Journey: Anticipating Arrival in 20 MinutesOne of the remarkable features of this integration is the speed at which funds arrive. With a quick and easy process, supporters can expect their funds to be securely transferred from Ethereum to HAQQ in about 20 minutes. This efficiency underscores the commitment to delivering a seamless and user-friendly experience.#Blockchain #HAQQ #Ethereum #Satellite #IslamicCoin

#IslamicCoin and #HAQQnetwork are delighted to unveil a groundbreaking element of the HAQQ universe: the HAQQ Wallet.

Drawing from the formidable infrastructure of HAQQ, the HAQQ Wallet acts as your portal to the realm of Islamic Decentralized Finance (DeFi). By fusing tradition and technology, the HAQQ Wallet offers a compelling solution for individuals eager to engage with financial instruments in accordance with the principles of Islamic finance.

In our quest to preserve the ethical foundations of Islamic finance in this digital era, the HAQQ Wallet ensures Shariah compliance via a secure, user-friendly interface. This article will explore its unique features, such as the streamlined operation and the Shariah Oracle, both meticulously designed to ensure secure, accessible, and Shariah-compliant transactions within Islamic DeFi.

Why Did We Develop the HAQQ Wallet?

As we immersed ourselves in the mission of ensuring Shariah-compliant interactions with HAQQ, it became clear that existing on-chain wallet solutions neither addressed the needs of ethical investors nor met the standards of Shariah compliance. Our challenge was to create a Shariah-compliant wallet while avoiding the conversion of our permissionless network into a permissioned one, which could potentially hamper our ecosystem's growth. This balance is essential given the inherent permissionless nature of a blockchain network.

Our solution came in the form of the Shariah Oracle. This on-chain registry of approved smart contracts, featuring two levels of approval - community and Shariah approval, offered the balance we were seeking. It ensured Shariah compliance in our Islamic DeFi platform without infringing on the permissionless nature of our network. The creation of the Shariah Oracle illuminated the need for a unique wallet, resulting in the development of the HAQQ Wallet.

Unpacking the HAQQ Wallet Design & Features

Traditional crypto wallets primarily catered to a limited audience - the crypto-savvy. However, the HAQQ Wallet, with its goal of an inclusive Islamic DeFi landscape, extends its reach to serve the 1.9 billion Muslims worldwide. We engineered the HAQQ Wallet to be intuitive for all users, from beginners to experienced crypto traders.

Mnemonic handling, a common feature in crypto wallets, often poses a daunting task for users. Yet, the HAQQ Wallet introduces a revolutionary change by simplifying this process with a user-friendly login setup. Users can easily link their existing social provider accounts, and a subsequent layer of security is added by requiring a pin code, thus achieving a balance between user convenience and account security.

The innovative approach of HAQQ Wallet also addresses account security strategy, embodying the ethos of decentralization inherent in our Islamic DeFi community. By leveraging modern cryptographic principles like secret sharing, HAQQ Wallet ensures that control of private keys remains with the user, reinforcing user ownership and upholding the principles of decentralization ingrained in cryptocurrencies.

We've also incorporated a robust mechanism to restore account access, ensuring users' asset security remains uncompromised. Even in challenging scenarios, users can regain access to their accounts. This comprehensive approach to security provides peace of mind to our users as they navigate the volatile crypto markets.

HAQQ Wallet Security & the Shariah Oracle

Understanding the need for bolstered security, the HAQQ Wallet plans to integrate with Ledger devices. This partnership will offer HAQQ Wallet users an additional layer of protection through hardware-based key management and secure transactions. While the official partnership is yet to be announced, the HAQQ Wallet is in the process of incorporating the Keystone Wallet into our system, aiming to further enhance the wallet's security features.

Central to the HAQQ Wallet is the Shariah Oracle. Its integration within the HAQQ Wallet creates a robust line of defense against potential malicious activities as it serves as an on-chain registry of approved smart contracts. Leveraging the power of community and Shariah approval levels, it ensures that user interactions align with their desired level of compliance within the Islamic DeFi framework.

Looking at governance, the dApp approval process consists of two levels: Community and Shariah approval. Any community member can propose community-level approval for their smart contract. Following a proposal through the default governance system on the Cosmos level, the community votes. If the majority approves, the smart contract receives community-level approval. This shields users from potential malicious transactions, aligning them with ethical finance requirements.

HAQQ Wallet allows users to select their preferred level of approval, either community or Shariah. This feature aligns user transactions with their specific compliance requirements, empowering them to make informed decisions and evaluate the compliance level of their transactions.

In the near future, HAQQ Wallet plans to establish a marketplace within its ecosystem. Smart contracts that have obtained community and/or Shariah approval can list their services in this marketplace, creating a hub of Shariah-compliant and trusted offerings within our Islamic DeFi platform. Users can explore these listings with confidence, knowing they adhere to the Shariah compliance standards set by the HAQQ.

Conclusion

The HAQQ Wallet blends the principles of Islamic finance with the innovations of DeFi, addressing a significant need within the global Muslim community. With its user-friendly interface, distinctive features like the Shariah Oracle, and robust security mechanisms, it is set to make Islamic DeFi accessible and ethically compliant for everyone, regardless of their crypto expertise.

As we prepare for partnerships with Ledger and Keystone Wallet and with the integration of an upcoming marketplace of Shariah-compliant offerings, the HAQQ Wallet is more than just a wallet—it's an evolving ecosystem fostering user engagement in the Islamic #DeFi space. Create a HAQQ Wallet today and join us on our journey to bring Islamic Finance to the world.

#BTC #Ethereum

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