Islamic Coin is a halal digital asset, designed to create value for the Muslim community. It is built on the native Haqq blockchain, and stringently abides by Islamic Finance principles.
Features of Islamic Coin
- Islamic Coin cannot be arbitrarily printed and devalued. It also cannot be arbitrarily deflated through the rise of interest rates; its price is determined by the market and thus always fair.
- Islamic Coin is minted automatically at predetermined announced rate and distributed amongst validators and delegators who actively contribute and invest to Haqq network functioning and security.
- Unlike fiat money, Islamic Coin is not operated by the banks whose main business is to earn money by charging interest. Charging interest is what leads to riba and is therefore haram.
- Each time a new Islamic Coin is minted, 10% is deposited into a special Evergreen DAO for further investment into Islam-related ventures or donated to Muslim charities. This is the first introduction of a coin bringing direct economic value to the Muslim community.
