Islamic Coin and HAQQ: Token Utility, Shariah Review, and DAO Funding
Summary
The article presents Islamic Coin (ISLM) as the native token of HAQQ, an EVM compatible proof of stake blockchain built with the Cosmos SDK. It describes ISLM uses for governance, gas, and staking, and says issuance is limited to a predetermined rate. HAQQ is also described as supporting Ethereum compatible development and communication with IBC networks.
The text outlines the Shariah Oracle, an on-chain registry of halal certificates with both community voting by stakers and review by a scholarly board. It says this compliance feature governs the HAQQ Wallet, while users can use other wallets to interact with contracts outside that process. Evergreen DAO is presented as a community and board governed fund for ecosystem and community projects, receiving 10% of newly minted ISLM. These are project descriptions, not independent assessments: the article provides no evidence on adoption, audit outcomes, token economics beyond the stated allocation, or the effectiveness of its compliance and governance systems.
Key ideas
- ISLM is described as HAQQ’s token for governance, gas fees, and staking.
- HAQQ combines Cosmos SDK infrastructure with EVM compatibility and proof of stake consensus.
- The Shariah Oracle uses staker voting and scholarly review to assess contracts for HAQQ Wallet use.
- Evergreen DAO funds community and ecosystem initiatives and receives 10% of newly minted ISLM.
- The article explains intended project features but supplies no independent evidence of their effectiveness.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.