***This is not financial advise and for educational purposes only***
First, I want to thank you for taking the time to read my take on MRHB Defi. Second, please forgive any misspellings related to Muslim verbage and tense as I am not familiar with it at all.
MRHB Defi is an ethical decentralised financial platform and shariah compliant. Shariah, literally translates into “the way”, refers to a set of Islamic religious laws that govern parts of day to day life for Muslims. Shariah laws offer a set of principles and guidelines to help make important decisions.
Prohibited investments under Sharia Law are:
- Brewing and production of alcohol
- Producing tobacco and related products
- Producing or distributing pornography
- Creation of pork products
- Manufacturing weapons and armaments
- Gambling and casinos
MRHB Defi aims to make crypto investing as Muslims also not Muslims only. They aim to bridge the Muslim community and blockchain. The goal is to simplify the complexities of Shariah and Defi.
Smart contracts play a crucial role in this ecosystem; self executing code ensures certain rules of Shariah law are met during execution of trades. Contracts have been leveraged so principles are upheld during trading and investing while still being transparent and secure. MRHB Defi is embracing the true spirit of “inclusive Defi”, focusing on including principles of Shariah in blockchain.
The following are part of the MRHB Defi’s platform offerings:
- Part of this MRHB Defi ecosystem is the Sahal Wallet. It is non-custodial and works with iOS and Android. It is integrated into MRHB’s Shariah filtering and allows only compliant tokens. The Sahal wallet is the gateway to the entirety of the MRHB ecosystem.
- SouqNFT is MRHB Defi’s cross chain “no code” marketplace for Shariah compliant arts.
- Liquidity Harvester is a cross chain passive income generator for the masses. Right now offering 5 - 15% apy. Liquidity mining is via the Mudarabah contract. (Mudarabah refers to a form of business contract where one party brings capital and the other personal effort.) It is similar to a traditional savings account and allows users to deposit and move funds.
- Cross Chain Dex Aggregator brings the best rates with as little slippage and TX fees as possible.
- MRHB Defi offers interest free borrowing and lending protocol that is based on Shariah compliance under collateralized loans.
- De Phi Protocol. To maintain privacy and security MRHB relies on ZK- Snarks Privacy so you can have peace of mind when using your Sahal wallet.
- Launchpad. This is used for a decentralised cross chain place to launch funding startups. It is bot resistant and uses the Quadratic Funding model so that both a single person or groups can raise funds worldwide and stay Shariah compliant.
- Governance and DAO MRHB is set up to become a DOA and be controlled by the community. Those holding the $MRHB token will be those who can make proposals and vote. This is to make sure there is no interference or intervening from the founders.
MRHB Defi is aiming to avoid dealing in non Shariah and unethical elements while staying decentralised and secure. This platform supports UN sustainable development goals as well.
What I get from all of this is that MRHB Defi wants to be more inclusive than most if not all other available platforms. It is dedicated to making sure that the Muslim community need not fear about breaking Sahariah guidelines and has checks and balances in place to make sure this happens correctly. It also aims to keep things as simple as possible while staying decentralised, secure and transparent.
This will seemingly help bring communities together and allow another group of peoples entrance into the crypto space.