MRHB DeFi Brings Halal Crypto

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MRHBDeFiExplained

MRHB DeFi is a decentralized and halal finance platform built to embody truth spirit of an “ethical and inclusive DeFi” following faith-based business and financial principles, where all excluded communities can benefit from DeFi's full empowerment potential.

Strong support for strategic investments and partnerships.

This DeFi ecosystem startup has received investment from institutional investors such as New World Group’s Mozaic, Sheesha Finance, Contango Digital Assets and NewTribe Capital, and has received strategic investment, which also includes consulting, marketing, networking, and others middle.

Currently, eight different Shariah-compliant DeFi products are developing by MRHB. The first is its Souq NFT, an NFT creation platform and market that supports multi-chain solutions.

Following the launch of Souq NFT will be Sahal Wallet, a multi-asset, non-custodial wallet which will make members easily to invest in halal cryptocurrency assets with built-in Shariah filtering.

The vision of MRHB DeFi is to bring unfamiliar society and communities with decentralized finance into the world of cryptocurrency, and it is particularly focused on providing halal DeFi services that suit to the principles of ethical financing and investment of the Islamic faith. Such business practices include avoiding interest, usury (the illegal action or practice of lending money at unreasonably high rates of interest), exploitation, and other behaviors that are considered unethical.

More than US$3 trillion of liquidity has been invested in the Islamic financial market, and investing a small portion of it in DeFi will represent an important step in DeFi's global growth. The total value of its lock-in is estimated to be approximately US$150 billion.

Decentralized Philanthropy Protocol (DePhi) to be built by MRHB DeFi backed by Polygon Technology.

Ethereum's largest DeFi chain, Polygon, and DeFi's ethical platform, MRHB DeFi, are leading the charge on the next big thing in DeFi, decentralized philanthropy, or DePhi for short. , which is estimated at more than USD 300 billion each year in Muslim countries alone with around USD 1.5 trillion in assets held by around 160,000 foundations worldwide.

"Polygon has become one of the leading full-stack scaling solutions for Ethereum, given its speed and scalability," says Deniz Dalkilic, CTO at MRHB DeFi. “As Marhaba strives to achieve its ultimate goal of building a comprehensive, secure and scalable ecosystem where liquidity is a priority, we are delighted to announce our integration with Polygon. To expand our presence at Polygon, we have received a grant from Polygon to optimize our solutions for their network. "

The Polygon team has been enthusiastic in supporting the ethics-based startup, recognizing that MRHB DeFi is the first Islamic finance app . Polygon has agreed to support MRHB DeFi's plan to develop a sidechain solution that opens DeFi to millions of people around the world. The two parties have recently signed an agreement that puts in writing their goal of bringing philanthropy into the crypto space, stating that:

MRHB DeFi intends to build its DePhi (decentralized philanthropy) protocol on Polygon technology, which would be a dedicated philanthropy protocol based on funding social initiatives for the benefit of the community, using the quadratic funding model.

With this solution, MRHB intends to catalyze the ecosystem of crypto philanthropy, focusing on being the first to channel Zakat's annual contributions from the Islamic world (est. USD 300 billion annually).

Quadratic funding is a technique that applies mathematics to ensure optimal (most democratic, most scalable) funding for charitable, social and community initiatives.

Bringing Philanthropy, a key pillar of the Islamic faith, to DeFi.

DePhi forms a key part of MRHB DeFi's strategic plans for its protocol. As part of MRHB's approach to supporting a more ethical and community-centered approach to decentralized finance, DePhi seeks to bring a key pillar of Islamic faith, charity, or zakat, to what is still a self-interest-driven sector. . Once the DePhi protocol is implemented, MRHB DeFi users will have the option of sending a portion of their wealth in crypto assets to charities that would be linked to the platform, thus fulfilling their faith-based or voluntary obligations.

End users who wish to donate will be able to deposit funds and generate rewards through trading fees in the liquidity pools created by MRHB DeFi. After depositing the donation, the assets would be locked for 60 days before being distributed to one of the previously approved charities named by the donor.

Additionally, MRHB DeFi will set aside five percent of its DAO treasury to invest in these pools as a form of crypto endowment; as such this will generate wealth in perpetuity for charitable causes.

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