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/

In a groundbreaking move towards revolutionizing Ethical Finance, HAQQ and Nefta have forged a strategic partnership aimed at propelling the global adoption of community-driven decentralized technologies. This collaboration not only streamlines user onboarding but also facilitates the integration of loyalty token systems onto HAQQ's blockchain network, promising to pave the way for a fairer and more inclusive financial landscape.

Seamless Onboarding and Integration

Nefta's versatile whitelabel blockchain toolbox takes center stage in this partnership by expediting user onboarding to HAQQ's blockchain network. This toolbox is an all-inclusive solution, featuring an array of powerful tools packaged for easy accessibility. By rebranding the toolbox, projects can establish their unique identity within the HAQQ ecosystem. The incorporation of user-friendly APIs and SDKs simplifies the integration of blockchain technology, effectively removing barriers for new users.

Smooth Transition to Web3 Loyalty Programs

The collaboration between HAQQ and Nefta extends its benefits to the seamless transition of traditional web2 loyalty and membership programs into the realm of blockchain and web3. This transition is engineered to be effortlessly smooth, allowing users to migrate their existing programs without friction and enjoy the advantages of blockchain technology.

Democratizing Finance Ethically

The partnership between HAQQ and Nefta is founded on shared values, particularly the commitment to democratizing finance and promoting ethical technological advancements. This alliance represents a significant milestone in both entities' journeys, emboldening them to create an inclusive and sustainable financial ecosystem.

Enabling Integration with Holiday Swap

Beyond its immediate impact, this partnership sets the stage for a transformative collaboration with Holiday Swap. Nefta's advanced blockchain toolbox facilitates the seamless integration of Holiday Swap's loyalty token system and related operations into HAQQ's blockchain network. This transition, spanning a global user base of over one million across 185 countries, promises a user experience free of complications.

Andrey Kuznetzov's Enthusiasm

Andrey Kuznetzov, HAQQ's Chief Technology Officer, expresses excitement about the partnership with Nefta. He believes that Nefta's toolbox will expedite HAQQ's mission of democratizing ethical finance. Kuznetzov emphasizes that the simplified user onboarding process, particularly for substantial transitions like that of Holiday Swap's, has the potential to revolutionize the HAQQ ecosystem.

In summation, the HAQQ and Nefta partnership stands as a pivotal moment in the journey towards Ethical Finance's evolution. By joining forces to enhance decentralized technologies and facilitate seamless integrations, the collaboration aims to create a more inclusive, sustainable, and user-friendly financial landscape for individuals worldwide.

Find more:

https://haqq.network/

https://islamiccoin.net/

#IslamicCoin #IslamicFinance #Web3 #DeFi #Crypto2023

Shariah Oracle: Bridging the Gap Between Blockchain and Halal Certificates

Introduction

The Shariah Oracle is a groundbreaking on-chain registry of Halal Certificates designed to ensure Sharia-compliant interaction within the HAQQ network. Serving as an essential component of the HAQQ Wallet, the Oracle maintains a whitelist of smart contracts, granting access to only verified dApps. By doing so, it allows developers to showcase their ethical relevance to Muslim users and gain entry to the HAQQ Wallet marketplace.

Understanding Oracles and Their Role

Oracles play a crucial role in decentralized applications (dApps) by bridging the gap between on-chain and off-chain worlds. They retrieve data from external sources and provide it to smart contracts, facilitating automated execution. Oracles use various methods, such as API calls, distributed ledger data, consensus-based algorithms, and trusted data sources to ensure the reliability and accuracy of the data fed to smart contracts.

The Shariah Oracle and its Purpose

The Shariah Oracle is a vital tool in curbing unethical or Haram activities within the HAQQ network. It achieves this by permitting access only to Sharia-compliant dApps, thereby enabling developers to demonstrate their ethical commitment to Muslim users and feature their products and services in the HAQQ Wallet marketplace.

How Does the Shariah Oracle Work?

The Shariah Oracle operates through two levels of approval: Community approval and Shariah board approval. Community approval involves ISLM stakers voting on proposals for listing projects in the HAQQ Wallet Marketplace. Shariah Board approval grants a Shariah Compliant label to projects after an audit process by the board. Additionally, the Oracle features a warning system that alerts users when they attempt to sign transactions with non-community-approved contracts, bolstering the HAQQ Network's security.

Maintaining Decentralization in the Shariah Oracle

Despite its Shariah Compliance feature, the HAQQ Network remains decentralized. The Shariah Oracle's influence is confined to the HAQQ Wallet behavior and does not extend to other aspects of the network or Layer 1. Consequently, users who are not concerned with Shariah compliance can still interact with any smart contract deployed on the HAQQ Network using Metamask or other EVM-compatible wallets.

Value Proposition of the Shariah Oracle

The Shariah Oracle offers significant value by ensuring that all smart contracts interacting with the HAQQ Wallet are Shariah-compliant, aligning with Islamic principles and ethics. This feature appeals to Muslim users and ESG-driven investors who prioritize ethical investing practices. Moreover, it enhances the security of the HAQQ Network by mitigating common front-end attacks.

Technical Architecture of the Shariah Oracle

The Shariah Oracle follows a series of steps for both community and Shariah Board approval. The process involves proposal submission, voting, whitelisting or SBT issuance, Shariah board approval, and the possibility of revoking approval if projects deviate from prescribed guidelines.

Future Developments

The Shariah Oracle plans to introduce authorized Shariah auditors in the future to streamline the compliance process and promote decentralization. These auditors will help maintain a robust, inclusive, and regulated ecosystem. The Shariah Oracle is set to go live in Q3 2023.

Conclusion

The Shariah Oracle represents a remarkable fusion of blockchain technology, Islamic principles, and ethical investing standards. By ensuring only Shariah-compliant dApps are accessible via the HAQQ Wallet, it introduces ethical compliance to the digital finance ecosystem. Its two-tier approval system strengthens the network's security while upholding decentralization—a fundamental characteristic of blockchain systems.

Looking forward, the implementation of authorized Shariah auditors will further enhance the compliance process, fostering a more equitable and sustainable financial future. The upcoming launch of the Shariah Oracle in Q3 2023 marks a significant milestone at the intersection of modern finance and faith-based ethics, paving the way for a promising financial landscape.

#IslamicCoin #HAQQnetwork #crypto2023 #DeFi #IslamicFinance

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

🌐 Seamless USDC Transfers Between Ethereum and @The_HaqqNetwork via @Axl_Satellite!
In a groundbreaking move, you can now effortlessly transfer USDC from Ethereum directly to @The_HaqqNetwork and vice versa through @Axl_Satellite, powered by @Axelarnetwork, our trusted integration partner. To guide you through this transformative experience, we've prepared a step-by-step guide on how to smoothly transfer USDC from Ethereum to HAQQ. Let's dive in!
🔗 Step 1: Visit http://satellite.money
Begin your journey by visiting http://satellite.money. Scroll down and select 'Ethereum' as your starting chain and 'HAQQ' as your destination.

🔒 Step 2: Connect and Unlock Your Wallet
Connect and unlock your MetaMask wallet or any other compatible wallet securely.

💱 Step 3: Input the Amount of USDC
Input the amount of USDC stablecoin you wish to transfer to HAQQ. Experience the magic as your USDC on Ethereum seamlessly transforms into axlUSDC on HAQQ through your Keplr wallet.

✨ Step 4: Double-check and Generate Your Deposit Address
Once you've inputted the correct amount, double-check and generate your deposit address. Approve the transaction to initiate the transfer.

🎉 Congratulations! You've Successfully Transferred USDC from Ethereum to HAQQ!
⏰ Quick and Easy Arrival: Your funds will arrive in about 20 minutes.
🌉 Ready to Embark on Your Shariah-Compliant DeFi Journey with HAQQ?
Start now with Satellite and be a part of the Shariah-compliant Web3 revolution championed at Islamic Coin.
Islamic Coin is a native currency of Haqq, a community-run network, dedicated to empowering an ethics-first Shariah-compliant financial ecosystem.
#ISLM #bullrun $BTC $ETH $XRP #HAQQNetwork #IslamicFinance #binanacesquare

The Islamic Coin team is pleased to provide our community with crucial updates and information on the ongoing development and progress of the HAQQ network. In light of the great interest and investment in the ecosystem, we want to discuss important topics, clarify our commitments, and provide full transparency.
Securing $400 million in funding
The active development of the HAQQ network and the opportunities offered by the Islamic coin ecosystem have attracted significant attention from prominent private investors and venture capital funds. We are pleased to announce that HAQQ has successfully secured $400 million in funding, which is a testament to the project's vision and potential.
Of this amount, a significant portion - $200 million - came from ABO Digital, a key partner supporting the project. This commitment plays a key role in ensuring the long-term stability and sustainability of the project. It is a testament to the confidence and belief in our mission.
Reg D Public sale on Republic
We understand that transparency, compliance, and security are paramount in the crypto space. To this end, we have chosen Republic as our public sale platform for Reg D for US investors and Reg S for investors from other countries. This decision was made after careful consideration and is consistent with our commitment to regulatory compliance.
Republic is a highly regulated platform with a robust structure for conducting token sales. This ensures that our token offering meets all legal requirements, including strict due diligence and Know Your Customer (KYC) procedures. This choice is an important step in our commitment to providing safe and secure investment opportunities for our community.
Important caveatsWe would like to emphasize the importance of conducting thorough research before participating in our token sales. All token sales involve certain risks, and it is very important to fully understand the terms and conditions. For more information, please read the terms and conditions available on our public sale page which will be in the comments
HAQQ Association: Registered non-profit organization in SwitzerlandThe HAQQ Association is an actively registered non-profit organization based in Switzerland. This distinction reflects our commitment to ethical, community-oriented initiatives. Our mission is to foster a financial ecosystem that adheres to Islamic principles, ensuring a fair and equitable financial future.
Bored Gen: An important part of the HAQQ ecosystemBored Gen is an integral component of the HAQQ ecosystem. It plays an important role in the development of the essential infrastructure of the HAQQ network. Our commitment to transparency and accountability is documented in our Whitepaper v2. We are committed to building a trusted ecosystem that benefits all participants and is consistent with the principles of Islamic finance.
A global team for an ethical web3
Our project development team is based in the United Arab Emirates, specifically at the Dubai Financial Market Development Center (Dubai DMCC). We pride ourselves on maintaining our commitment to decentralization by assembling a world-class team from around the world. This approach allows us to work remotely as well as from our office, ensuring that we realize our vision of creating an ethically driven web3.
The Islamic Coin team is deeply grateful for the support and enthusiasm shown by our community. We remain committed to building an inclusive, ethical, and innovative financial ecosystem. Stay tuned for further updates and feel free to join our upcoming AMA to ask questions and interact with our team.
Disclaimer: The information provided here does not constitute financial advice and you should conduct your research and seek professional advice before making investment decisions.
#Crypto2023 #Investideabinance #cryptoshark #IslamicFinance #cryptousdua

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

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.

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