MRHB.Network Releases Its One-Year Performance Report

2024-04-19 07:39:14 Business

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Melbourne, Australia, May 15, 2023 -- MRHB.Network, the world?s first halal and ethical decentralized finance (DeFi) ecosystem, has released its one-year performance report detailing the company?s many achievements during 2022.

"From Day One, our platform put ethics together with a trusted ?community first? mission ? a concept whose importance was highlighted by the numerous failures and frauds of 2022,? said MRHB Founder and CEO Naquib Mohammed. ?We are continuing to build a safe and diverse crypto community that wants to participate in this extraordinary new sector that we hope will drive more creativity, entrepreneurship, investment and commerce opportunities for all involved.?

MRHB DeFi launched their $MRHB token in December 2021 in an oversubscribed IDO, raising nearly US$5 million from 1,000 investors, 800 of whom came through MRHB?s own DeFi platform. Following are the startup?s subsequent highlights and milestones over the past year:

Products and Architecture ? The Foundation of the Vision

The past year saw MRHB launch three world-first products in halal DeFi:

Launched in February 2022, Sahal Wallet is the first self-custodial and chain-agnostic mobile crypto wallet that screens out non-halal tokens. Known as the ?Easy Wallet? because of its user-friendly interface, it also acts as a gateway to MRHB?s entire ecosystem of halal DeFi products. Available on Android and iOS, Sahal Wallet has more than 210,000 wallet activations across six chains, with tens of millions of dollars in weekly transaction volumes. It has a number of useful features including fiat onramp, swaps, cross-chain bridges, biometrics, WalletConnect, NFT storage and is integrated with the following popular blockchains: Ethereum, BNB Chain, Polygon, Cronos, Fantom and Avalanche, with eight more partner blockchains scheduled to be integrated by Q3 2023.

TijarX, which beta-launched in October 2022, is the first halal DEX (decentralized exchange) built specifically for tokenized commodities. Initially focussed on very low risk wealth preservation, it currently offers gold and silver -backed tokens by physical allocated bullion stored in the fully regulated vaults of Australia?s leading bullion dealer, Ainslie. Providing tamper-proof and reliable price feeds from market-leading oracle solution, Chainlink, TijarX has reached over USD 400,000 in volume.

SouqNFT is the first halal NFT marketplace and B2B NFT solution. Launched in December 2021, SouqNFT hosts image NFTs as well as the world?s first NFT-based halal compliance certificates, and supports minting of Soulbound tokens. SouqNFT is currently integrated with the BNB and Polygon blockchains, and following the upcoming launch of Souq V2 which will include an entire UI/UX revamp, it will also be integrated with ETH, Fantom, Avalanche and CRO. Souq V2 will also see a range of other new features added, including (but not limited to) secondary market support across all chains, an OpenAI and DreamFusion-integrated AI NFT art generator, and an NFT Project Launchpad.

In addition to the above three halal DeFi solutions, the startup has been hard at work building their next two ethical and halal wealth generation products: EmplifAi, for easy investing in on-chain sources of income, and M.I.R.O. ? short for ?MRHB Incentivization & Reward Offering? ? which, for the first time will, allow the MRHB token holders to earn rewards in return for community participation. Both products are anticipated to create a demand driver for the utility token itself.

To better align the community and team members, the MRHB Governance Board decided to delay token releases for MRHB DeFi team until after M.I.R.O. is launched.

Shariah Governance Board ? The Soul of the MRHB Ecosystem

MRHB DeFi works very closely with their Shariah Governance Board (SGB) that reviews every single token and product on the platform for halal compliance, including intricate analyses of every step of development for the products that MRHB creates. This ensures that everything on the platform is suitable for MRHB?s faith and ethics-conscious audience, also crucial for making partnerships with other halal projects.

Over the past year, the SGB has overseen halal compliance for the MRHB utility token and all three product launches as well as provided halal and ethical screening for over 150 external protocols, tokens and products, making MRHB DeFi the largest halal ecosystem in the blockchain industry.

The SGB is further involved in creating educational and official documentation and training resources for MRHB, including writing the first publicly published paper concerning Shariah governance in DeFi, as well as drafting the first DeFi-related Shariah governance framework and Standard Operational Procedures (SOPs).

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

read full press release: https://www.prpocket.com/2023/05/mrhbnetwork-releases-its-one-year-performance-report.html