MHRB

shekinah-gee (26)in #defi • 2 years ago

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MRHB COMMUNITY

The 2008 depression was supposed to be the eye-opener the world needed to build a more inclusive, morally upright and egalitarian financial system, but it failed to do so. The economic crash, many analysts have hinted, was a result of selfish and greedy bosses in Wall Street and big banks. The dangers of their selfish actions were detrimental to the world economy, which caused many to lose almost all their savings and investments.
One would think the aftermath of such an event would get the world to become more selfless and morally upright in its financial dealings, but the trend has continued. We still hear of bosses of fortune 500 companies who lay off workers and get fat cheques as rewards for “keeping the company” afloat, not minding the number of people rendered jobless.
In the wake of these blatant disregard for morality and faith and selflessness in managing finance, MRHB, an Islam-inspired community has developed a blockchain protocol that houses the millions of Muslims all over the world who’re tired of the exclusionary and selfish financial system in the world right now.
Although Decentralized Finance was supposed to be the bridge that connected the ‘have nots’ with the plethora of financial opportunities in the world, the reality is far from the intended purpose.
More than 1.7 billion people in the world are unbanked and given the huge finances in Islamic Finance (IF), $US 3Trillion, it is necessary to have a DeFi protocol that caters to these people and uses sharia laws as its guiding principles.
At MRHB, we understand that Faith, complexity and access are the three most important hindrances to people getting into the cryptocurrency space.
So, to bridge the gap between the rich and the poor, MRHB is building a platform that empowers people to build, grow and rest assured that the governance of the platform is ethical and abides with sharia laws.
With regards to the governance of the MRHB community, we have put in place the following:
MRHB Governance Board (MGB)
The Shariah Governance Board (SGB)
The community of stakeholders
The platform will be run by the dictates of the Quran, and therefore will demand every crypto assets that want to be on the platform – built or sold on the platform – adhere strictly to Sharia laws.

The crypto assets will be divided into:
Non-native tokens
Native Products and services

The MRHB project will be carried out in two phases viz, Phase 1 and Phase 2.

In Phase 1, these are some of the projects that’ll be built and run on the platform:
Low Slippage across different chains on the platforms- One of the major issues that blockchain technology, and by extension Defi is facing is interoperability; the ability of different blockchains to interact with each other in much the same way that banks interact with each other. Also, slippage, which is the fee you pay when you’re swapping from one native token to another, is usually high.
However, with MRHB, the slippage fee is low, and projects built on the network can interact freely with themselves, making it easy to transfer from one chain to another.
Multi-Asset Non-Custodial Wallet: You can swap your tokens between different chains – that have been approved as Sharia-compliant.
Liquidity Harvester: Put your tokens in a liquidity pool and get rewarded later.

In Phase 2, these are some of the products that’ll be rolled out:
Community-Driven Launchpad: Here, you can invest your tokens in upcoming projects on the network and get rewarded for it.
The SOUQ NFT Platform

The MRHB community and team behind its development are very aware of the possibility of people getting power drunk. So, in a bid that not one person wields so much power on the platform, a Decentralized Autonomous Community is put in place.

CONCLUSION:
The days of Defi projects focusing only on gains are over. Young and old Muslims the world over now have a platform that caters for their needs and works on shared values and ethical principles.
Also, bad user interfaces, lack of privacy, low level of security, and complexities are a thing of the past thanks to MRHB.
So, if you’re in search of a Shariah-compliant financial system, then MRHB is for you.

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