The Islamic Monetary Token (ISLM), also known as the HAQQ token, plays a key role in aligning Islamic finance with the requirements of modern economic systems. Today, we will delve into the unique aspects of #islm tokenomics to understand what makes it so special among other financial instruments.

Tokenomics - the cornerstone of a digital asset

For those unfamiliar with the term, let's define tokenomics. Tokenomics refers to the economic model of a digital asset, governing its functioning. It determines the distribution of tokens, how the asset gains and retains value and its interactions within the ecosystem. Understanding token distribution strategy and asset management structure is crucial.

  • Islamic Monetary Token management through Evergreen DAO. ISLM is managed by the decentralized autonomous organization, Evergreen DAO. It is a non-profit fund aiming to promote long-term sustainability and community impact. ISLM management aligns with Islamic principles, emphasizing ethical finance and societal development.

  • Proof-of-Stake - ISLM staking mechanism. ISLM utilizes the Proof of Stake (PoS) mechanism, enabling #haqq token holders to participate in network consensus. Through staking, participants lock their ISLM tokens, allowing them to engage in network governance and receive rewards. This approach aligns with Islamic principles, where assets are intended for ethical finance rather than accruing interest.

  • The role of validators in ethical finance. Validators play a crucial role in the ISLM network. They are responsible for verifying and adding new transactions to the blockchain. However, for ISLM, validators hold a special significance as they help maintain adherence to Islamic principles, filtering out financial practices that contradict these principles. These validators, called ISLM "bonders," stake a certain amount of tokens as collateral to uphold network security and ethics.

ISLM represents an innovative financial model that combines Islamic finance principles with modern systems. Its tokenomics ensures transparency and ethical asset management, while incentivizing active participation from token holders in network development. Additionally, integration with Evergreen DAO allows ISLM to redirect funds towards Islamic social goals, strengthening its social role and impact. All these factors make ISLM a unique and significant financial instrument for the Muslim community and other interested parties.

ISLM tokenomics: key points and facts

  • ISLM - Islamic Monetary Token. ISLM is the official currency of HAQQ. It is widely used for transaction fees, governance and staking within platforms operating on the ISLM network.

  • Compatibility and reliability. ISLM is compatible with Ethereum, EVMOS, Cronos, Osmosis and other popular chains based on the Cosmos SDK. The ISLM network is particularly suitable for those aiming to adhere to Islamic financial principles, avoiding platforms with conflicting practices.

  • Limited supply and initial distribution. The total supply of ISLM is limited to 100 billion coins, with 20 billion offered in the initial issuance. The initial distribution encompasses participants in private sales, partners, ambassadors, founders and business reserve funds.

  • Block rewards and gas fees. The reward system in the HAQQ network is based on blocks and gas fees. When a block is added to the blockchain, new ISLM coins and gas fees are generated. 10% of the rewards are directed to Evergreen DAO, which focuses on supporting projects aligned with Islamic principles.

  • Haqqers DAO. This organization plays a key role in the distribution of funds within the network. Haqqers DAO rewards range from 16.9% to 62.6% and are intended to finance projects within the Haqq ecosystem.

  • Residue distribution. After distribution between Evergreen DAO and Haqqers DAO, the remaining portion of rewards is allocated to block proposers, bond validators and their delegates. This ensures incentivization of validator work and supports staking in the network.

  • Reward structure for delegates. Rewards for delegates are calculated proportionally to the amount of their delegation to bond validators. This incentivizes long-term participation and compensates for the validator's role in block verification and transaction processing.

The ISLM token and its associated tokenomics represent an efficient and ethical financial instrument aligned with Islamic principles. Limited supply, coin distribution and reward structure create a favorable environment for active participation and the development of a sustainable ISLM network.

ISLM staking: key points and opportunities

  • Token Staking. In the ISLM ecosystem, #staking is done through the staking of ISLM tokens, which are locked in a smart contract for network governance and earning rewards. This allows participants to earn interest on their staked amount.

  • Network Governance. ISLM token stakers can delegate their tokens to a chosen validator on HAQQ. Validators confirm transactions, secure the network and make governance decisions. In return, stakers receive rewards for their stake.

  • REStake.app Integration: Integration with REStake.app makes ISLM staking more accessible and profitable. The platform provides an overview of all available validators and helps make informed decisions. It also allows for automatic reward accrual and reinvestment, maximizing profitability.

  • Partnership with Brighty. The partnership with Brighty opens up opportunities for Islamic finance in the ISLM ecosystem. Brighty offers accounts for Islamic coins (ISLM) and provides access to staking mechanisms. Users will be able to transact with ISLM and use linked cards, making ISLM tokens even more accessible.

ISLM staking provides participants with an opportunity to earn passive income and participate in network governance. Staking through REStake.app simplifies the staking process and allows for maximum profits. The partnership with Brighty expands the usage of ISLM and makes it more accessible to users. With these opportunities, ISLM staking becomes increasingly appealing for investors and ecosystem participants.

Management in Evergreen DAO: key points and processes

  • Proposals and Voting. Any ISLM token staker can propose an initiative for funding. Proposals go through a preliminary check and discussion on an off-chain platform, then are submitted to Evergreen DAO. Voting takes place after the minimum deposit is reached.

  • Governance Structure. The governance process includes a deposit period, a voting period and a sharia approval period. To have a proposal considered, an initial deposit must be made. Then the voting period begins, where participants can choose options of "Yes," "No," "NoWithVeto" or "Abstain." The HAQQ Sharia Council reviews the proposal for compliance with Islamic principles.

  • Role of the HAQQ Sharia Council. Evergreen #dao has a unique component - the HAQQ Sharia Council, which reviews and approves each proposal for compliance with Islamic principles. If the council approves the proposal, the tokens are disbursed accordingly. If a proposal is rejected or the council does not make a decision, the tokens remain in Evergreen DAO.

  • Deposit Refunds. Unlike other DAOs, Evergreen DAO returns deposits in case of a proposal's failure. This promotes long-term sustainability of the DAO.

Evergreen DAO provides ISLM token stakers with the opportunity to participate in governance and funding of beneficial initiatives for the Muslim community. The governance structure includes proposals, voting and approval by the HAQQ Sharia Council. The uniqueness of Evergreen DAO lies in the role of the Sharia Council, ensuring compliance with Islamic principles. The DAO also refunds deposits in case of failure, supporting stability and participant trust.

Our view: ISLM Token aims to provide opportunities for the Muslim community and introduce the principles of Islamic finance. It is always good to see projects that address specific needs and support inclusiveness. What do you think?