IslamicCoin (ISLM) is a unique cryptocurrency that's making waves in the world of ethical finance.As the native currency of a Sharia-compliant financial ecosystem,it's designed to support the global Muslim population and others who embrace ethical finance principles.
One of the standout features of IslamicCoin is its commitment to giving back to the community. With 10% of each ISLM issuance going into the Evergreen DAO for investments in Islam-related ventures or charitable donations,it embodies the spirit of philanthropy and innovation.
This digital asset serves multiple purposes within the ecosystem.It can be used for payments, governance,transaction fees on the HAQQ blockchain, and staking.Importantly,ISLM aims to digitize traditional Islamic finance instruments like Sukuk,the Islamic equivalent of bonds, providing a bridge between traditional and modern financial systems.
A significant milestone for IslamicCoin is the issuance of a Fatwa by prominent Muslim scholars in 2022,declaring it a halal asset.This endorsement adds credibility and trust to the project.
At its core,the HAQQ network provides the technological foundation for IslamicCoin.It's a proof-of-stake,Layer1 blockchain compatible with Ethereum and Cosmos-based networks,with millions of mainnet accounts created by users.
The HAQQ Wallet,a non-custodial digital wallet,is a vital component of the ecosystem,boasting over 500,000 downloads and a high average rating.Its availability on mobile and desktop platforms makes it accessible to a wide user base.
To ensure ethical compliance,the project has introduced a Sharia Oracle,an on-chain registry of halal certificates.This innovative feature certifies that users of the HAQQ ecosystem,through the HAQQ Wallet,interact with contracts and dApps that meet halal standards.
Looking forward, #Islamiccoin has ambitious plans to expand its ecosystem with new DApps,products,and a marketplace for HAQQ Wallet.They are also welcoming new projects and developers,supported by a generous $40 million grant program.
