We are living in a digital revolution.
Before, we lived in a world of disconnect; where our local communities rarely intersected, where physical travel was the only way to interact within a new ecosystem, where experiencing a different society and culture would only be possible with an expensive trip to another part of the earth. Those times have passed, and with it, we have entered into a world of constant innovation built on a vast, infinite landscape, filled with fascinating ideas, concepts, bridges, ecosystems, and more, connecting us with any and everyone willing to step into the rabbit hole of that which was once inscrutable; a foreign concept that has become a mainstay in this revolution, all tied back to one legendary concept built on a multitude of digital protocols: the Internet.
The modern digital age did not end there though and we can see it now evolving into something entirely different, altering our ideals, our conceptions of the universe, and our interactions with each other and the world around us. Many readers here on Publish0x know this to be true and are experiencing these changes firsthand and are likely even active participants within these novel innovations, which I will from here on out simplify as Web 3.0; a simple way of encapsulating the world of decentralized finance, social interactions, and entire digital ecosystems.
History is being made and we are living in it and it all starts here with the advent of Web 3.0, which naturally calls into question how we plan to evolve as humans into this digital age and how we, as humans, can shape and shift these new developments to serve our best interests while also maintaining our humanity, our empathy and understanding, and our combined human experience, which brings us to Marhaba DeFi.
Marhaba DeFi
Marhaba, simplified as MRHB, is an all-inclusive, first mover in creating a decentralized financial ecosystem built not simply for the secular of the world, but rather developed to include all walks of faith, life, experience, and values. Where humanity has excelled in building this new digital ecosystem we have come to know as Web 3, we have failed, or rather, have not yet seen the incorporation of true human values and ethics.
In this sense, MRHB, a shariah-compliant digital infrastructure, is absolutely changing the game. Furthermore, MRHB goes so far as to express their vision as not a Muslim exclusive ecosystem, but instead as a "Muslim also" ecosystem. With cryptocurrency, many varying peoples likely find it difficult to understand this new world and many peoples in various walks of life may feel that it goes against their beliefs and religious texts to be involved in such a novel, pioneering expedition. We can see it now, happening all over the world, with China's repetitive reiteration of bans on crypto and especially in the recent ban on crypto by Indonesia's religious council, ruling it as "haram," forbidden under Shariah law.
This, my friends, is where Marhaba DeFi is truly being innovative. Whereas the Indonesian religious council would have cryptocurrency outright banned, cutting off millions of Muslims from experiencing the true financial freedom that many of us in other parts of the world have experienced through decentralized finance and cryptocurrency, MRHB sees this as an opportunity to incorporate Muslim ethics into their ecosystem, presenting a set of Shariah compliant financial tools that will no doubt serve millions of Muslims and various peoples around the globe.
MRHB utilizes their understanding of Shariah law and combines it with common components of DeFi ecosystems - smart contracts, AMMs, NFTs, borrowing/lending, etc - to create a new all inclusive digital future, set to improve the prospects of our financial futures.
This Muslim-inclusive, Shariah-compliant ecosystem will consist of eight interlinked products - Sahal wallet, Souq NFT, Liquidity Harvester, Cross-Chain DEX Aggregator, Interest Free Lending and Borrowing, DePhi Protocol, Launchpad, and Governance and DAO - with many more to come I am sure. Below I have provided a short description of what each of these Shariah-compliant products will offer to the vast landscape of cryptocurrency and decentralized finance.
Sahal Wallet
The Sahal Wallet will stay true to what many of us expect of a cryptocurrency wallet these days - non-custodial, with a high level security and privacy built in to an easy to use interface. It will utilize MRHB's "Shariah filtering technology" to ensure that ONLY Shariah-complaint tokens can be transacted with, stored, and utilized by any single user, thereby serving as a junction into the entirety of the MRHB DeFi ecosystem.
Souq NFT
MRHB has developed a "no-code" NFT marketplace with cross chain support to champion and advocate Shariah-compliant artists, allowing them to develop and uplink their artwork by utilizing the underlying smart contract technology to mint their NFTs.
Liquidity Harvester
Under the Mudarabah smart contract, individuals will be able to earn passive income across chains on stablecoins through liquidity mining with an estimated 5-15% APY, essentially replacing the need for a legacy savings account - earning high yield while also having access to your funds at all time and not having to deal with an intermediary bank, allowing for the movement of funds at the click of a button and finding lucrative opportunities all across the cryptosphere.
Cross-Chain DEX Aggregator
MRHB's cross-chain DEX aggregator will serve a similar function as 1inch Protocol serves currently within the cryptosphere, aggregating liquidity across chains to allow for the most optimal rates, lowest slippage, and lowest fees possible when swapping Shariah-compliant assets.
Interest Free Lending and Borrowing
Crypto-collateralized loans offered in a secure, transparent, and decentralized manner, accumulating no interest and completely based upon Shariah compliance first and foremost.
DePhi Protocol
Decentralized Philanthropy Protocol will allow for individuals to transparently and anonymously (through ZK-Snarks Privacy) donate to an MRHB approved charity anywhere around the globe, while being able to clearly see your funds leave your wallet and safely land at their destination.
Launchpad
A bot resistant decentralized launchpad with cross chain support based on a "quadratic funding model" allowing anybody anywhere in the world to raise funds and invest into new, upcoming Shariah-compliant ideas, ridding the world of borders, allowing investors to invest when they want, where they want, and how they want rather being stuck within their own locality.
Governance and DAO
And finally, the token $MRHB which will give governance rights to ALL token holders, allowing for Muslim and non-Muslim individuals globally, to participate in governing the direction of the entire ecosystem. MRHB DeFi will become a Decentralized Autonomous Organization (DAO) and the community of $MRHB token holders will be able to propose and vote on changes to the protocol without outside interference.
Final Thoughts
Marhaba DeFi is a breath of fresh air in an increasingly stifling digital world, where new ideas and integration of ethics aren't often being considered by developers. What's most important to take away from MRHB DeFi is that they are absolutely committed to the avoidance of unethical and non Shariah-compliant components while still allowing users to be involved in cryptocurrency and decentralized finance in a safe, Shariah-compliant fashion. Anything considered unlawful according to Shariah law, will be excluded and Muslim users can be certain of this because the MRHB team will also consist of experienced, certified, and credible Shariah advisors, who will give their utmost to ensure that all activities on the platform are Shariah-compliant - free from Riba (interest) and Gharar (risk), which could be considered Maysir (gambling) under Shariah law.
I am excited to see how Marhaba DeFi develops from here and hope to see many countries and religious councils, such as that of Indonesia, advocate for Marhaba DeFi and encourage their citizens to participate in this new digital revolution rather than sitting on the sidelines. Financial freedom is imperative for the improvement of the average individuals life and I hope to see the Muslim community integrate into the world of cryptocurrency and decentralization finance in a manner that is Shariah-compliant.
Let us welcome this new community into the world of decentralized finance with open arms.
Marhaba!
To our financial freedom and the financial freedom of all people of every religion and walk of life!
