MRHB continues to Lead with World’s First Halal DeFi

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DUBAI, Unit­ed Arab Emi­rates., June 10, 2022 (GLOBE NEWSWIRE) — Ethics-focused decen­tral­ized finance plat­form MRHB.Network has announced three world first product/feature launch­es togeth­er with dozens of new enhance­ments to be added to their halal DeFi plat­form in the next six months. This announce­ment comes along with over a dozen more devel­op­ments to be added from August onwards, which pave the way for four oth­er major prod­ucts to be launched next year.

“MRHB DeFi Net­work has a very strong roadmap to rapid­ly build out a full-fea­tured DeFi ecosys­tem of eth­i­cal and halal finance solu­tions. The devel­op­ments we are rolling out this sum­mer will bring a wide array of func­tion­al­i­ty and util­i­ty to our plat­form, which we are very excit­ed to present to our com­mu­ni­ty,” said Naquib Mohammed, the project’s CEO and founder.

Whether the mar­kets are up or down, MRHB con­tin­ues to #BUIDL and con­tribute to the devel­op­ment of the over­all blockchain ecosys­tem. We are 100 per­cent com­mit­ted to our rev­o­lu­tion­ary long term vision – MRHB will emerge a leader from a crowd­ed sea of projects,” declared Naquib.

‘Tru­ly Halal’ DeFi Solu­tions: Liq­uid­i­ty Har­vester, M.I.R.O. and CommDex

The two new but high­ly antic­i­pat­ed cryp­to wealth prod­ucts launch­ing in Q3 — Q4 include the Liq­uid­i­ty Har­vester for gen­er­at­ing pas­sive income/wealth and M.I.R.O. (Marha­ba Incen­tiviza­tion & Reward Offer­ings), the world’s first halal DeFi stak­ing solution.

Archi­tect of the MRHB DeFi solu­tions, Deniz Dalk­il­ic, CTO of MRHB, explained, “Our tech team has spent almost 6 months with the Shari­ah Gov­er­nance Board (‘SGB’) to find cryp­to solu­tions that are tru­ly halal in sub­stance — not just in form.” 

Many income prod­ucts in cryp­to rely on inter­est-based bor­row­ing and lend­ing strate­gies which are seen as usu­ri­ous and pos­si­bly exploita­tive in the ethics focused ecosystem.

Deniz con­tin­ued, “Instead, we will use a very dif­fer­ent approach for our end users where they can har­vest rewards from the dif­fer­ent under­ly­ing pro­to­cols that are deemed halal by the SGB. The Har­vester will also pro­vide the option of man­u­al (active) or auto­mat­ed (pas­sive) func­tions and if you par­tic­i­pate in the stak­ing pro­gram, you can access bet­ter options or are giv­en ear­ly access to cer­tain VIP strate­gies, as well as many oth­er perks based on your locked amount and tier. For M.I.R.O., the reward­ing of locked-up tokens is based on a stak­ing mod­el with tiered incentives.”

The MRHB com­mu­ni­ty can also look for­ward to the pio­neer­ing ‘Com­mDex’ fea­ture, a decen­tral­ized exchange for com­mod­i­ty-backed tokens, which will be acces­si­ble via the Sahal Wal­let, the world’s first self-cus­to­di­al mul­ti-chain wal­let made specif­i­cal­ly to hold halal tokens. 

“With Com­mDex, we are tok­eniz­ing phys­i­cal-backed gold and sil­ver – with these tokens, you are buy­ing a gram of actu­al phys­i­cal gold or sil­ver, stored in our part­ners’ bul­lions or vaults,” said Dalk­il­ic. “Start­ing with the uni­ver­sal wealth preser­va­tion solu­tions of gold and sil­ver, we will be expand­ing to oth­er phys­i­cal com­modi­ties such as wheat, corn and iron.”

Oth­er high­ly antic­i­pat­ed tech devel­op­ments include inte­gra­tions for Sahal Wal­let such as Bit­coin com­pat­i­bil­i­ty, reversible trans­ac­tions, and gam­i­fi­ca­tion features.

A sum­ma­ry roadmap for the devel­op­ments start­ing in May into the next few months is as follows:

  • May 2022: Sahal Wal­let — Token dis­play and a back­end upgrade for Shari­ah coins API and admin pan­el; SouqN­FT — NFT report­ing added; Liq­uid­i­ty Har­vester Ver­sion 1 (active management)
  • June 2022: Sahal Wal­let — Price charts and inte­gra­tions with Avalanche and NFTs; a refer­ral pro­gram; Liq­uid­i­ty Har­vester - test­ing, audit­ing and M.I.R.O.   stak­ing inte­gra­tion; M.I.R.O. — devel­op­ment of stak­ing tokens and vot­ing con­tracts and a UI portal
  • July 2022: Com­mDEX — launch with gold and sil­ver tokens; Sahal Wal­let — inte­gra­tions with Bit­coin, Fan­tom and RSK. SouqN­FT - Fan­tom inte­gra­tion, a fiat onramp, GAN-based art tools, sug­ges­tive search­ing; Liq­uid­i­ty Har­vester Ver­sion 2 (pas­sive) — UI upgrade 
  • August 2022 and onwards: M.I.R.O. — in-wal­let stak­ing, NFTs and incen­tivized tiers; Sahal Wal­let — a gam­i­fi­ca­tion min­ing tab, reversible trans­ac­tions, local­iza­tion to five new lan­guages, mul­ti­ple wal­lets capa­bil­i­ty, inte­gra­tions with Liq­uid­i­ty Har­vester Ver­sion 1, ZKSync and Arbi­trum; SouqN­FT - a unique NFT check­er and reverse image lookup; Liq­uid­i­ty Har­vester Ver­sion 2 — test­ing, audit­ing and M.I.R.O. stak­ing integration

Khalid Howladar, who leads the Advi­so­ry Board at MRHB, not­ed, “We are still at an ear­ly stage in an ambi­tious vision of an eth­i­cal ecosys­tem suite of prod­ucts. Ulti­mate­ly, the team hopes to pro­vide the com­mu­ni­ty safe and easy access to a wide range of robust halal DeFi ser­vices from one trust­ed por­tal.”

The Road to Marha­ba, the World’s First Halal DeFi Platform

MRHB — pro­nounced ‘Marha­ba’, mean­ing ‘wel­come’ in Ara­bic — was found­ed to serve over 1.8 bil­lion peo­ple con­cerned about mak­ing eth­i­cal finan­cial deci­sions — a first in the indus­try. This includes the world’s Mus­lim pop­u­la­tion, a demo­graph­ic rep­re­sent­ing a mas­sive US$3 tril­lion mar­ket that was pre­vi­ous­ly exclud­ed from the cryp­tocur­ren­cy space due to a lack of halal options in the industry.

MRHB DeFi Net­work fills this need by putting every token, prod­uct and ser­vice on its plat­form through a rig­or­ous halal vet­ting process, ensur­ing eth­i­cal busi­ness prac­tices are fol­lowed every step of the way.

The com­pa­ny launched their MRHB token in Decem­ber 2021 in an over­sub­scribed IDO that brought in over US$5.5 mil­lion in fund­ing. Over 85 per­cent of their investors are mem­bers of their own enthu­si­as­tic com­mu­ni­ty of over 60 thou­sand sup­port­ers com­ing from 106 dif­fer­ent countries.

Last month, MRHB DeFi Net­work won the Glob­al Brand Awards for “Best New Islam­ic Cryp­to Plat­form” (Crypto/FOREX cat­e­go­ry). The MRHB token was also fea­tured on Nas­daq and Investor­Place as a “killer cryp­to” in Jan­u­ary 2022 and March 2022. In anoth­er first, Shari­ah Experts launched the world’s first NFT-based halal cer­ti­fi­ca­tion on MRHB’s SouqN­FT platform.

MRHB’s ambi­tious prod­uct launch roadmap for 2023 which will see four major prod­ucts and ser­vices added to the plat­form. These include:

  • Inter­est-free cryp­to financ­ing to pro­vide decen­tral­ized access to halal loans that avoid usury
  • An entre­pre­neur launch­pad to pro­vide a gate­way for the less for­tu­nate to real­ize their dreams
  • A whole plat­form ded­i­cat­ed to decen­tral­ized phil­an­thropy (DePhi)
  • Decen­tral­ized autonomous gov­er­nance (DAG) for end-to-end finan­cial transparency

Fol­low­ing the launch of these four prod­ucts, Marha­ba plans to migrate to their own Layer‑1 blockchain.

MRHB DeFi Network’s vision is sup­port­ed by a num­ber of part­ners and investors, includ­ing Poly­gon Tech­nol­o­gy, Shee­sha Finance, Aus­tralian Gulf Cap­i­tal, NewTribe Cap­i­tal, Blockchain Aus­tralia, Moza­ic, Con­tan­go Dig­i­tal Assets, ZKSync, Acred­i­tus Part­ners, EMGS Group, Sino­fy Group, Sukha­vati Pro­to­col and MKD Cap­i­tal, amongst others.

About MRHB DeFi Network

MRHB DeFi Net­work is a halal, decen­tral­ized finance plat­form built to embody the true spir­it of “Eth­i­cal and Inclu­sive DeFi” by fol­low­ing faith-based finan­cial and busi­ness prin­ci­ples where all exclud­ed com­mu­ni­ties can ben­e­fit from the full empow­er­ment poten­tial of DeFi.

The diverse team com­pris­es researchers, tech­nocrats, influ­encers, Islam­ic fin­tech experts, busi­ness entre­pre­neurs and indus­try pro­fes­sion­als, who have all come togeth­er to ensure that MRHB DeFi pre­vails in a man­ner that will impact soci­ety as a whole, essen­tial­ly bridg­ing the gap between faith-con­scious com­mu­ni­ties and the blockchain world.

MRHB DeFi Net­work Offi­cial Channels

Web­site: https://mrhb.network
Twit­ter: https://twitter.com/marhabadefi
Telegram: https://t.me/mdf_official
Telegram Announce­ments: https://t.me/marhabadefi_ANN
YouTube: https://www.youtube.com/c/MarhabaDeFi
Medi­um: https://medium.com/@mrhbdefi
LinkedIn: https://www.linkedin.com/company/marhabadefi
Dis­cord: https://discord.com/invite/DubSjKmkBX
Face­book: https://www.facebook.com/MRHBDeFi
Telegram (Ara­bic): https://t.me/mdf_arabic
Telegram (Russ­ian): https://t.me/marhabadefi_russia
Telegram (Turk­ish): https://t.me/MarhabaDefiTR
Telegram (Per­sian): https://t.me/mrhbdefi_persian
Telegram (Urdu/Hindi): https://t.me/MRHBDeFi_Urdu_Hindi
SouqN­FT Mar­ket­place: https://souq.mrhb.network

Media Con­tact
cecilia@marhabadefi.com
dean@yourPRstrategist.com
pr@yourPRstrategist.com



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