Islamic Coin (ISLM) Price

What is ISLAMICOIN?

Islamic Coin (ISLM) aims to serve as a groundbreaking financial instrument in the Islamic world, marrying Shariah-compliant financial principles with modern Web3 technology. The coin serves as the native digital asset for the HAQQ Network, a blockchain platform developed on the Cosmos Software Development Kit (SDK), and is also compatible with Ethereum and other Cosmos SDK-based blockchains.

Business Model and Strategy

Islamic Coin revolves around full Shariah compliance, ensuring that it aligns with Islamic laws and ethics. The business model includes features like interest-free investments, halal trading, and even charitable giving opportunities. It serves as the backbone of the HAQQ Network, a blockchain that aims to create a complete ecosystem of financial products and services that are technologically advanced and ethically grounded.

Market and Competitive Landscape

Islamic Coin sets itself apart by placing strong emphasis on sustainable and ethical financial practices. It aims to onboard more than 1.8 billion Muslims into the realm of digital finance. Through staking and governance mechanisms, the community is directly engaged in the project’s development. Two Decentralized Autonomous Organizations (DAOs), Evergreen DAO and Haqqers DAO, are integral to the coin's governance model.

Financials and Metrics

In terms of milestones, the year 2022 marked the launch of HAQQ's mainnet and private sales and secured a $200 million investment. Plans for 2023 include getting listed on major crypto exchanges and integrating Islamic Coin as a payment method with up to 20 major partners, predominantly in the MENA region. The project also boasted a community size of one million users as of December 2022.

Tokenomics

Islamic Coin had an initial supply of 20 billion coins, allocated among various stakeholders such as private sale participants, the founding team, and business reserves. The coin’s price isn't pegged to any external assets, relying instead on its intrinsic value and market forces for valuation.

Staking and Rewards

Islamic Coin has a robust staking mechanism, where 10% of all minted coins are allocated to the Evergreen DAO, and a varying percentage goes to the Haqqers DAO. These rewards are then further distributed among the network's validators and coin delegators, incentivizing community participation and long-term holding.

Future Catalysts

Upcoming listings on major exchanges are expected to significantly boost the coin's liquidity and possibly its price. The planned transition from a Proof of Authority (PoA) to a Proof of Stake (PoS) consensus mechanism is likely to attract a new subset of environmentally conscious investors.