In a rapidly evolving digital world, the HAQQ Network emerges as a beacon of hope for the global Muslim community. Rooted in the principles of transparency, inclusivity, and innovation, HAQQ Network has introduced the Evergreen DAO to fund projects that benefit the Muslim community worldwide, provide grants to ecosystem maintainers, support bug bounties, engage in marketing activities, and foster other initiatives that the community deems beneficial.
Governance for the PeopleAt the heart of HAQQ Network's governance lies a unique partnership between the HAQQ Community and the HAQQ Shariah Board. These two pillars work in harmony to ensure that Evergreen DAO operates with the highest level of integrity and alignment with Islamic principles.Diverging from the traditional Cosmos Governance, HAQQ Network's governance model boasts three key differences:
1. Shariah Board Oversight: Every spending proposal must gain approval from the HAQQ Shariah Board, ensuring that all initiatives are in compliance with Shariah Law. This level of oversight is essential to maintain the integrity of the network and its commitment to serving the Muslim community.
2. Incentivizing Quality Proposals: HAQQ Network incentivizes users to submit high-quality proposals that genuinely benefit the Muslim community. Financial rewards for these proposals ensure that the network remains a hub for impactful projects.
3. Deposits Never Burn: In the event of a Voting Period or Deposit Period failure, deposits do not disappear. Instead, they are transferred to the Evergreen DAO, preserving the value within the ecosystem.Operational StructureEvergreen DAO leverages the foundation of the Cosmos Community Pool to support its spending initiatives. These initiatives follow a structured governance process with the following key periods:
1. Deposit Period: Similar to traditional Cosmos governance, proposals require a deposit, ensuring a level of commitment from the proposer. The voting period only commences when the deposit reaches the defined minimum.
2. Voting Period: This stage aligns with the standard Cosmos governance process, where bonded ISLM holders cast their votes, including "Yes," "No," "NoWithVeto," or "Abstain." The results of this phase determine the fate of the proposal.
3. Shariah Approval Period: Once a proposal successfully navigates the Voting Period, it enters the Shariah Approval Period. Here, the HAQQ Association Shariah Board meticulously reviews the proposal to ensure its compliance with Shariah Law. If approved, the proposal is executed, and the allocated coins are transferred as outlined.
4. Deposit Refund and Seizure: Importantly, HAQQ Network distinguishes itself from traditional governance by ensuring that deposits are not burned. Instead, the outcome of the proposal, be it approval, rejection, or veto, determines whether the deposit is refunded to the proposer or transferred to the Evergreen DAO.
Upholding Values
HAQQ Network stands as a symbol of dedication to the Muslim community's growth and development. By incorporating a rigorous governance model, the network ensures that all spending initiatives align with the principles of transparency, fairness, and adherence to Shariah Law. Moreover, the financial incentives for high-quality proposals encourage a continuous influx of projects that enrich the lives of Muslims worldwide.
Conclusion
HAQQ Network and its Evergreen DAO are not merely technological innovations but a testament to the power of blockchain and decentralized governance to serve diverse and culturally significant communities. By bridging the gap between technology and faith, HAQQ Network paves the way for a brighter future, one where the global Muslim community can thrive, powered by the principles of blockchain technology and the spirit of unity.
