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/

#HAQQ Ecosystem Update.

Haqq and Islamic Coin mission is to build an ethics-first, inclusive financial system, and we are thrilled by how much our tribe has grown.

From wallets to infrastructure and payment platforms, a sneak peek into what the partners/builders are cooking for our users.

✅Infrastructure:

🔷Back9 make it easy for leisure facilities to sell online, manage inventory and control rates through a modern.

🔷@tatum_io is the fastest way to build, test and run blockchain apps.

🔷@immunefi Review code. Prevent hacks. Build rep. Get paid.

🔷@P2Pvalidator P2P helps investors compound their cryptocurrency investments through non-custodial Staking with insurance and high-performance PoS Nodes with top-of-the-line infrastructure.

🔷@nefta_io access market leading tools for game development, publishing, and scaling.

🔷@gmo_coin GMO Coin, one of the oldest and largest crypto exchanges in, is set to become a HAQQ validator. HAQQ benefits in increased network security. GMO Coin can expand its presence in the ethical finance economy

✅Wallets:

🔷@safe – Previously Gnosis Safe – Crypto wallet, web3 account abstraction developer stack.

🔷@KeystoneWallet - The only hardware wallet integrated with MetaMask mobile.

DeFi:

🔷@SushiSwap an open, decentralized bridge that unlocks the power of interoperability & liquidity between blockchain ecosystems.

🔷@HaqqPad, the launchpad for ethical projects and startups. A vital part of the HAQQ ecosystem, HaqqPad will be the platform for innovative crypto projects to launch, grow and positively impact their communities.

✅Bridge:

🔷@axelarcore supports logic to automate complex interchain tasks, such as connecting new chains or managing interchain dApp deployments.

🔷@gravity_bridge an open, decentralized bridge that unlocks the power of interoperability & liquidity between blockchain ecosystems

✅Service:

🔷@HolidaySwapApp is the most affordable travel platform that allows you to book, host or swap homes anywhere in the world.

🔷@Thea helps both individuals and businesses manage and calculate carbon footprints. Eco-friendliness is a core aspect of HAQQ's ethics-first approach, and we are thrilled to have Thea build with us.

✅Institutional:

🔷DDCAP Group is a market intermediary and financial technology solutions provider connecting the global Islamic financial market.

🔷FAMBRAS HALAL - Сertifies Halal products in Latin America, following international standards.

✅Payments:

🔷@pyypl is a non-bank digital app that gives everyone access to the financial system through a smartphone.

#IslamicCoin #Binance #Ethereum #BTC

Islamic Coin, the native currency of HAQQ, a blockchain platform dedicated to creating a Shariah-compliant financial ecosystem, has recently entered into a memorandum of understanding (MoU) with CoinDesk Indices. This partnership aims to explore the development of Shariah-compliant cryptocurrency benchmarks tailored for the Middle East and North Africa markets.

Additionally, the collaboration seeks to enable the licensing of various CoinDesk Indices benchmarks for use in exchange-traded financial products. HAQQ, the blockchain platform housing Islamic Coin, will also gain access to CoinDesk Indices' API for selected digital assets, which will be utilized for its digital asset exchange.

The strategic alliance between Islamic Coin and CoinDesk Indices is expected to have a significant impact on the evolving landscape of Shariah-compliant digital financial services, given the forecasted growth of the global Islamic finance market. It is anticipated to exceed a staggering $3.69 trillion by 2024.

Mohammed AlKaff AlHashmi, the founder of Islamic Coin, expressed enthusiasm about the collaboration, stating, "With the global Islamic finance market forecasted to surpass $3.69 trillion by 2024, this collaboration is poised to reshape the landscape of Shariah-compliant digital financial services."

The collaboration signifies a pivotal step toward bridging the gap between the rapidly expanding cryptocurrency market and the principles of Islamic finance. By creating benchmarks that align with Shariah principles, Islamic Coin and CoinDesk Indices aim to provide a viable and compliant avenue for individuals and institutions in the Middle East and North Africa to participate in the burgeoning world of digital assets.

The synergy between HAQQ's commitment to Shariah compliance and CoinDesk Indices' expertise in crypto benchmarking is expected to contribute to the continued growth and acceptance of blockchain-based financial services within the Islamic finance ecosystem. This initiative not only supports the region's financial inclusion goals but also positions Islamic Coin and HAQQ as key players in shaping the future of Shariah-compliant digital finance.

#IslamicCoin #cryptousdua #BTC #ETH #Crypto2023

In the vast landscape of cryptocurrencies, a new star has emerged, catering to the values of the global Muslim community. Say hello to #IslamicCoin ! 🚀

Note: This is not a sponsored article/post. I am doing it because I want to share about this amazing project but make sure to Do Your Own Research (DYOR) :)

🕌 Embracing Islamic Finance Principles:

Islamic Coin, also known as $ISLM, is a groundbreaking digital asset that embodies the principles of Islamic finance. Committed to transparency, fairness, and social responsibility, Islamic Coin ensures its users adhere to ethical practices while navigating the ever-changing crypto universe. 💫

Remember, it’s not only for the Muslims but also for the people of the whole world.

💡 The Core Concept:

Built on a robust blockchain infrastructure, Islamic Coin aims to create a digital ecosystem that promotes financial inclusion and social good. As a community-driven project, it empowers its users to participate actively in shaping its future. DYOR, and you'll discover a dedicated team working tirelessly to make Islamic Coin a beacon of trust and integrity in the crypto space. 🔍

🌐 Global Reach:

Islamic Coin isn't limited to a specific region; it transcends borders, inviting the entire world to experience ethical finance like never before. From Asia to Africa, Europe to the Americas, $ISLM unites people from diverse backgrounds under a shared vision of financial prosperity. 🌍

💎 Unique Features:

Let's dive into the treasure trove of unique features that set Islamic Coin apart:

1️⃣ Shariah Compliance: Islamic Coin aligns with Islamic principles, making it a top choice for Muslims seeking a halal investment option. 🕌

2️⃣ Community-Driven Governance: The power is in the hands of the community! Through voting mechanisms, $ISLM holders actively participate in shaping the future of the project. 💪

3️⃣ Ethical Staking: Embrace auto-compounded rewards with seamless staking through trusted partners like REStake App. 💻💰

4️⃣ Seamless Interoperability: Islamic Coin is engineered to foster cross-chain interoperability, expanding its reach across diverse blockchain networks. 🌐

📢 Join the Revolution:

Are you ready to be part of the Islamic Coin revolution? DYOR and explore the endless possibilities that this transformative cryptocurrency offers. Whether you're an experienced investor or a newcomer to the crypto world, #IslamicCoin welcomes you with open arms. 💚

🤝 Embrace ethical finance, empower communities, and experience the future of crypto with Islamic Coin! Together, let's redefine the meaning of financial prosperity. 🌟 #ISLM #CryptoForAll #EthicalFinance

In a groundbreaking move, #Islamiccoin has just announced a revolutionary partnership with Mara Foundation, a trailblazing organization making waves in Africa through the innovative use of blockchain technology to reduce inequalities and empower local talent. This collaboration is set to transform the social, economic, and environmental landscape of Africa in remarkable ways.Mara Foundation, in conjunction with partners like Circle, is on a mission to assemble a coalition of visionaries committed to driving positive change. They're not merely talking the talk but walking the walk by nurturing technical skills with tailor-made programs specifically designed for the region. These programs cover vital areas such as finance, natural capital protection, asset tokenization, and climate change mitigation.A significant highlight of this partnership is the plan to establish up to 10 Innovation Labs across Nigeria. These labs will be dedicated to providing localized training and educational programs tailored to entrepreneurship, youth employability, and cutting-edge digital technologies. This aligns seamlessly with the ongoing initiatives in the region, including the government of Nigeria's efforts through missions like 3MTT, aimed at developing technical talent through partnerships with training providers and placement organizations.#IslamicCoin is deeply committed to empowering the next generation by offering education on critical financial topics and technology. This includes providing young people with the skills and tech equipment necessary to create solutions they might not otherwise have had access to.Moreover, Islamic Coin will donate a significant amount of #ISLM tokens and offer technical expertise to support the establishment and operation of the Innovation Labs. On the other hand, Mara Foundation will coordinate the establishment and operation of these labs, identify qualified incubation/acceleration partners and suitable geographic locations, and oversee various aspects related to content and operations.This partnership underscores Islamic Coin's genuine and growing interest in Africa, with a firm dedication to nurturing talent in the region. The numbers speak volumes, with African blockchain venture funding skyrocketing by 429% in 2022, outpacing global blockchain funding.To bolster early-stage protocols, a $40 million Ecosystem Fund has been set up. Additionally, the launch of HaqgPad, a platform for ethical projects and startups, aims to uplift early-stage Web3 projects across various sectors. Islamic Coin doesn't intend to leave mere digital footprints; their goal is to have a tangible impact on the ground, fostering innovation and supporting local talent through initiatives like hackathons. This partnership is a game-changer in the quest for a brighter future for Africa.#BullRun #Islamiccoin #BRC20 $ETH

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

Introduction:

Century Coinomics introduces Islamic Coin (ISLM), a virtual asset native to the HAQQ Network, a layer-one blockchain built on the Cosmos Software Development Kit (Cosmos SDK). ISLM is designed to be compatible with other blockchains based on Cosmos SDK, such as EVMOS, Cronos, Osmosis, and Ethereum's EVM. In this article, we will explore the key features, functionalities, and dynamics of ISLM and the HAQQ Network.

HAQQ Network and Cosmos SDK:

The HAQQ Network is a blockchain platform based on the Cosmos SDK, a widely recognized framework for building blockchains. Cosmos SDK serves as the foundation for HAQQ, ensuring compatibility and interoperability with other Cosmos-based blockchains.

Blockchain Wallets and Security:

To securely store ISLM and other assets on the HAQQ Network, users must create non-custodial blockchain wallets. The HAQQ wallet mobile application facilitates the creation of these wallets, ensuring that users have exclusive access to their stored assets, providing enhanced security.

Transferring ISLM:

Transferring ISLM is a straightforward process, requiring users to know the recipient's address. The HAQQ wallet mobile application simplifies this process, making it accessible to all users.

Staking on HAQQ Network:

Staking involves locking ISLM coins by bonding them to validators, who maintain the HAQQ Network. By staking, ISLM holders delegate voting power to validators and become delegators, enabling them to earn rewards and participate in governance through Tendermint BFT consensus.

HAQQ Mainnet and Proof of Authority:

Upon the launch of HAQQ Mainnet, the minting of new coins is temporarily disabled, and the network is operated by a restricted set of validators controlled by the Core Team, utilizing Proof of Authority consensus. This approach allows thorough testing of Century Coinomics and empowers the HAQQ community to learn how to stake and run their validators.

Transition to Proof of Stake:

Following evaluation on the HAQQ public Testnet and ensuring network stability, minting and Proof of Stake will be enabled on the Mainnet. Validators and stakers will no longer be restricted to those controlled by the Core Team, allowing for broader participation and staking rewards distribution.

ISLM Coin Emission and Supply:

The total ISLM supply is limited to 100 billion coins. Every Era, which spans 2 years, witnesses a 5% reduction in ISLM's emission rate. Coin emission is projected to cease after 100 years from the first block of the first Era. Initial supply comprises 20 billion ISLM, with a significant portion allocated for various purposes.

Initial Supply Allocation:

2 billion – Evergreen Foundation – according to Century Coinomics

5.5 billion – Partners: boards, initial supporters, promoters and market makers.

4 billion – Initial Private Sale. These coins will be sold to qualified private investors.

5.5 billion – Business reserve and ecosystem development fund. These coins will be used for public distributions, operational costs, business development, grants and other ecosystem-focused activities

3 billion – Founders Reward.

Vesting:

Founders Reward allocation minus 0.01 ISLM will be deposited on a Vesting Smart Contract on network launch. 0.01 ISLM subtracted from Founders Reward will be used for the payment of transaction distribution fees after launch. Vesting Smart Contract transfers 1/24th of deposit immediately on deposit creation, while the rest becomes available for claiming by portions of 1/24th every 30 days.

Pricing and Valuation:

ISLM's initial issue price is 0.25 per token. Its valuation is not pegged to external assets but is influenced by factors such as transaction volumes, decentralized applications, user base, and active wallets on the HAQQ Network. The market dynamics play a significant role in determining ISLM's price.

Legal and Regulatory Considerations:

While there are no immediate legal or regulatory constraints related to owning, storing, transferring, or using ISLM in the issuing country, users are advised to review local laws and regulations in their respective countries of residence.

#IslamicCoin #Cosmos #Web3 #BTC #ETH

The #IslamicCoin project is revolutionizing the intersection of Islamic principles and blockchain technology. let's introduce you to the brilliant minds steering this innovative ship! 👇

1️⃣ Hussein Mohammed Al Meeza: An illustrious banker with over 45 years of experience in Islamic banking, finance, and insurance sectors. He's a founding member of key entities and holds numerous positions of influence.

2️⃣ Mohammed AlKaff AlHashmi: A graduate in computer science and engineering, he's a tech expert in Industry 4.0, AI, machine learning, and more. He's the CEO of MCPM Holding and UI Ventures and co-founder of Islamic Coin.

3️⃣ Greg Gigliotti: A finance veteran with a history in managing billions for institutional clients. He's currently the CEO, CIO, and Founding Partner of Xtellus Advisors, LLC.

4️⃣ Peter J. Rafferty: A Chartered Financial Analyst with extensive experience in various executive roles, including Managing Director at Xtellus Advisors, LLC, and Senior Fund Manager at the Abu Dhabi Investment Authority.

5️⃣ Anish Mohammed: A security and cryptography expert with a PhD in Information Security. He's contributed to top Web3 projects and is a co-founder, Chief Scientist, and CTO of Panther Protocol.

6️⃣ Khamis Buharoon Al Shamsi: With over 35 years in global finance, he's held pivotal roles at institutions like the Central Bank of UAE and Abu Dhabi Islamic Bank. He's also a Chairman of the Abu Dhabi National Takaful Company Board of Directors.

7️⃣ Faris Ahmad Ramadhan Juma: A seasoned business strategist with a wide-ranging career, including senior positions at DU Telecom and Emaar Group. He's the Chief Business Development Officer of Islamic Coin.

8️⃣ Dr. Mohamed Bechari: A scholar known for combining religious and cultural elements for development. He's the Secretary General of the World Muslim Communities Council and has founded the Avicenna Institute.

9️⃣ Rachel Pether: A digital asset expert and CFA Charterholder. She's worked with Mubadala Investment Company and is an advisor to digital asset companies. She's also a host and author.

🔟 Arben Kane: A tech entrepreneur with two decades of experience. He's founded multiple companies and served in various tech leadership roles. He's also an angel investor.

1️⃣1️⃣ Obaid Helal Obaid Mohammed AL Kaabi: Holds senior positions in prominent UAE corporations and serves on the boards of various institutions in the Middle East.

1️⃣2️⃣ Jerad Finck: A blockchain and tech executive with extensive experience in the digital industry. He's also the CEO and Founder of Cosmic Wire, a blockchain technology company.

With such a diverse and accomplished team, Islamic Coin is poised for success. Stay tuned for the exciting journey ahead!

In the ever-evolving landscape of decentralized finance (DeFi), HAQQ Network emerges as a beacon of innovation, integrity, and inclusivity.Their are thrilled to announce our groundbreaking integration with Yieldmos, a pioneering DeFi yield generation protocol.This integration marks a pivotal moment where cutting-edge technology converges with the principles of Islamic finance, providing users with unprecedented opportunities to earn while staying true to their values.The Confluence of HAQQ Network and YieldmosYieldmos, a DeFi protocol dedicated to optimizing yield generation across the Cosmos ecosystem, is the perfect partner for HAQQ Network's mission.The integration with Yieldmos unlocks a world of possibilities for HAQQ users and those who value Islamic finance principles.Adhering to Islamic Finance PrinciplesIslamic finance is rooted in principles such as transparency, asset-backed financing, and risk minimization.HAQQ Network collaboration with Yieldmos embodies these principles through:1. Non-Custodial SolutionsYieldmos employs Cosmos SDK's authz grants to execute actions on users' behalf without holding their assets.This non-custodial approach ensures that users maintain full ownership of their assets, eliminating the risks often associated with custodial services.2. CustomizabilityUsers have the freedom to choose their validators and allocate staking rewards as they see fit.This level of customization empowers users to tailor their DeFi strategies to align with their individual financial goals and risk tolerance.3. Risk MinimizationBy enabling users to retain ownership of their keys, Yieldmos significantly reduces the risks associated with traditional custodial services. Users can rest assured that their assets remain secure while participating in DeFi yield generation.4. Strategy OptimizationYieldmos continually scans for the best yield opportunities for ISLM Tokens, personalized based on users' risk tolerance.This ensures that assets are always working optimally for users, maximizing returns.5. Automated Yield StrategiesGone are the days of manual asset management. Yieldmos compounds network rewards daily, between 17:00 and 19:00 UTC, optimizing for maximum yield while minimizing transaction fees.This approach aligns seamlessly with Islamic finance principles.Yield Optimization with ISLM TokensYieldmos specializes in auto-compounding rewards, removing the need for users to manage and reinvest earnings manually.ISLM Token holders can trust that their assets are actively and intelligently growing, all while adhering to the principles of Islamic finance.Pioneering a New Era of Financial InclusionThe integration of Yieldmos and HAQQ Network ushers in a new era of financial inclusion. Users retain full control of their assets while enjoying the benefits of DeFi yield generation.Tailoring staking rewards, choosing liquidity pools, and minimizing costs are all within reach, making financial growth and adherence to Islamic finance principles mutually inclusive.In this transformative collaboration, #HAQQ Network and Yieldmos redefine the possibilities of DeFi.It's not just about maximizing yields; it's about doing so with integrity, transparency, and a commitment to inclusivity.Welcome to a future where financial innovation respects your values.#IslamicCoin #Layer2 #opbnb #BTC

In a significant leap towards advancing ethical decentralized finance (DeFi), HAQQ Shell has seamlessly integrated the Keplr Wallet into its blockchain platform. This collaboration not only bridges user-friendly features with a Shariah-compliant framework but also empowers users to engage with blockchain technology while upholding their values. The integration not only streamlines cryptocurrency management and participation in the Cosmos interchain ecosystem but also reflects a joint commitment to a secure and all-encompassing blockchain future.

Empowering Ethical Users in the Cosmos Ecosystem

The integration of Keplr Wallet with HAQQ Shell's blockchain platform underscores a shared dedication to empowering users within the Cosmos network. Keplr Wallet's user-centric features, meticulously designed for smooth user interaction, align seamlessly with HAQQ Network's ethos of enabling accessible and ethical participation in the blockchain domain.

By supporting Keplr Wallet, HAQQ Shell bridges two essential aspects of the blockchain ecosystem: its mission to uphold Islamic ethical finance principles and Keplr's dedication to providing an exceptional user interface for Cosmos-SDK based blockchains. This synergy promises significant advantages for users of both platforms.

Strengthening the Ethical Finance Landscape

The integration offers users a seamless gateway to engage in decentralized finance while staying true to their ethical principles. Keplr Wallet's capabilities in multichain support, staking, and hardware wallet security synergize harmoniously with HAQQ Shell's scalable and Shariah-compliant framework. This amalgamation results in an all-inclusive environment that empowers users to navigate the blockchain landscape with confidence.

Enhanced Security and Accessibility

Furthermore, Keplr Wallet's multifaceted features, including multichain management, staking, voting, and dApp connectivity, contribute an additional layer of accessibility and security to the HAQQ ecosystem. This translates to an augmented experience for HAQQ Network users, enabling them to engage with assurance while maintaining their ethical values.

Expanding the Horizons of Cosmos Ecosystem

For Keplr Wallet, this integration serves as a gateway to expand its reach within the Cosmos interchain ecosystem. By tapping into the HAQQ ecosystem, Keplr gains the opportunity to cater to a wider community of users seeking Shariah-compliant options. This endeavor aligns seamlessly with Keplr's commitment to enriching the Cosmos experience.

Beyond its technological implications, this partnership embodies the essence of decentralized ethical finance. It embraces core values such as transparency, trust, and community, which are foundational to both HAQQ Shell and Keplr Wallet.

In conclusion, the integration of Keplr Wallet into HAQQ Shell's blockchain platform marks a significant stride towards ethical DeFi, where users can engage with blockchain technology without compromising their values. This collaboration not only enhances the cryptocurrency landscape within the Cosmos interchain ecosystem but also reinforces the shared commitment to a secure and inclusive blockchain future.

#IslamicCoin #DeFi #Crypto2023 #Web3 #HAQQ

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

Cryptocurrency airdrops have become a popular way for blockchain projects to distribute tokens to their community members. Islamic Coin,a promising project with a strong focus on community engagement,is no exception. To maximize your chances of earning an Islamic Coin airdrop,consider the following tips and strategies:

1. Active Social Media Presence:

- Follow Islamic Coin on all their social media platforms,including Twitter,Discord,Telegram,Instagram and more. Turn on post notifications to stay updated on the latest announcements.

2. Engage Regularly:

- Actively participate in discussions on Islamic Coin's social media channels.Liking,retweeting and commenting on their Twitter posts,as well as reacting to their Medium articles and Instagram posts,can demonstrate your genuine interest in the project.

3. Weekly Activities:

- Join and actively participate in the Islamic Coin Telegram group chat and Discord community. Many airdrops reward users who engage frequently,so aim to meet the weekly engagement target,typically around 50 messages per week.

4. Maximize Your Presence:

- Add the '$ISLM' Maxi tag to your Twitter bio to show your support for Islamic Coin. Additionally,consider adding (💚,🌙) to your Twitter name for extra visibility.

5.Become an Ambassador:

- Explore the possibility of becoming an Islamic Coin Ambassador.Ambassadors often receive special rewards and recognition for their efforts in promoting the project.

6. Join the Islamic Coin Guild:

- Consider joining the Islamic Coin Guild on platforms like Guild.xyz, where you can connect with other enthusiasts and potentially discover more opportunities for involvement.

7. Off-chain Activities:

- Participate in off-chain activities,such as liking and retweeting posts,which are often part of the airdrop requirements.These small actions can accumulate and increase your chances.

8. On-chain Activities:

- Explore on-chain activities like claiming your share of TestEdge2 $ISLM tokens,making more than ten transactions on the Testnet,staking $ISLM and even becoming a Validator of HAQQ Network if you're technically inclined.

9. Stay Informed:

- Keep an eye on Islamic Coin's official announcements for updates on airdrop distribution timelines and eligibility criteria. Staying informed is crucial to ensure you meet all requirements.

10. Hold Islamic Coin OATs on Galxe:

- Holding Islamic Coin OATs on the Galxe platform can be advantageous,as it aligns with the project's ecosystem and may increase your chances of receiving airdropped tokens.

Remember that participating in airdrops often requires patience and dedication.Crypto projects like Islamic Coin value community engagement and reward those who actively contribute to their growth. By following these tips and actively engaging with the project, you can maximize your chances of earning an Islamic Coin airdrop and becoming a part of this exciting crypto journey.

For more information visit https://islamiccoin.net

#crypto2023 #airdrop #IslamicCoin #HAQQ #crypto

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.
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