For a long time, the financial world has been under the grip of morally bankrupt people, people whose sole aim is to make money and profits. The lack of morality in world finance was the bedrock of the 2008 financial crisis. The crisis, although has proven to be helpful in driving the new wave of economic progress, the residues of the faulty ideologies and values that caused the wreck still persists.
And it’s not surprising one bit.
But it is imperative that in the midst of the current financial troubles, a more inclusive yet morally upright financial system be implemented. The rise of decentralized Finance (DeFi) was supposed to be the system that usurps the fraudulent system called Centralized finance, but so far, it seems as though the vestibules of the centralized world has seeped into the DeFi world. Hence the need for MRHB.
Now, you might be wondering what makes MRHB so different and on what moral grounds is MRHB built that it feels like the solution to the burning question of “when can we have a fair and equal financial system that caters for all?”
I will tell you the answer.
First, it is imperative that you know on which foundation the MRHB DEFI is built upon.
MRHB DEFI is built on the Islamic laws. The laws in the Quran are the guiding principles for the development and governance of this system.
With Islamic finance worldwide growing as much as $3 trillion in the last year, and some of the wealthiest young persons in the world being Islamic faithful, it is necessary to develop a financial system that caters for these people, and provides a shared opportunity for the 1.7 million unbanked people worldwide.
Also, the complexity of blockchain technology amongst the lower class, which has turned a technology that was supposed to be inclusive elitist, MRHB DeFi was deemed a necessity.
Now, with this protocol, investors, the unbanked, migrants sending remittances to family in their home country, and many other people can have platform that provides for their different needs.
The governance systems of the MRHB platform are:
MRHB governance board
-The Shariah Governance Board (SGB)
-MRHB community of stakeholders
-The SGB is made up of Islamic financial professionals from the Centralized Finance World who also have some background knowledge of DeFi.
•Some of the benefits of MRHB Ecosystem are:
Cross-chain mobile wallet: With a cross-chain mobile wallet, users on the MRHB platform can easily transfer assets between different prokjects built on the platform.
•Very Low Liquidity: When converting from one digital asset to the other on the MRHB platform, you get to pay small slippage fee, making conversion of liquidity.
You can mint NFTs on the platform with decent minting fees, and the minting process is easy. Also, there is a marketplace where you can sell your NFTs to millions of NFT collectors.
Democratic, whale and bot proof funding pool that’s based on quadratic funding formular, which has its own token that has been pegged to MHRB.
Easy-to-understand User Interface
CONCLUSION:
The world of decentralized finance needs a more upright system that incorporates Islamic beliefs with latest technology that’s buolt on transparency and equality.
For more information kindly visit the links below :
Website: https://marhabadefi.com
Whitepaper: https://marhabadefi.com/info-centre.php
Twitter: https://twitter.com/MarhabaDeFi
Linkdln: https://www.linkedin.com/company/marhabadefi/
Author : Dulo Wegner
BountyOx: dulowegner
First, it is imperative that you know upon which foundation the MRHB DEFI is built.
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