πΒ Is Yield Farming Halalβ
There isnβt a one-size-fits-all answer, as it largely depends on the mechanics of the specific farming protocol. Farming in lending protocols where returns are considered interest is haram. However, yield farming through staking and liquidity provision, such as ISLM pools on @Sushiswap, is deemed halal because it adheres to a Sharia-compliant business model. π§Ί
Hereβs a closer look at how it works:
β’ Variable APRs: No fixed APR in ISLM pools. The changing rates mean there's no guaranteed return, aligning with ethical finance principles.
β’ Risk & Reward Sharing: Liquidity providers (LPs) contribute to the pools based on APR returns, sharing gains and losses and ensuring compliance with Shariah law.
β’ Enhanced Market Liquidity: Staking in liquidity pools improves the trading experience, facilitating smoother transactions for those swapping assets.
This approach ensures that all financial activities remain within the bounds of ethical and Sharia-compliant practices.
Looking to embark on the halal yield farming journey? Hereβs a helpful guide: https://t.co/3z7VHubNrj
@aliyaw30@Islamic_Coin@SushiSwap Kindly read this article for more details: https://t.co/QyAJkmECjQ. Furthermore, you have the option to stake your locked coins. It has about a 7% APY. You can see how to do it and this is guide on how to stake your coins: https://t.co/qL95L4NFbe
@aliyaw30@Islamic_Coin@SushiSwap The token release schedule is determined by factual distribution factors. Here is the updated token release schedule:
- Reg S (Non-US regions): Tokens released on 29, May 2024, being 4 months.
- Reg D (US): Tokens to be released on 29, January 2025 being 12 months.
@nathsteboi@Islamic_Coin Regarding the issue you are facing, you can reach out to their support team by creating a ticket in their Discord server or Telegram.
Discord > https://t.co/er3VcGCoSP
Telegram > @islm_support_bot
@crypto_maximu@Islamic_Coin The second quarter isn't finished yet; there's still one month remaining. Keep an eye on the official socials of all exchanges, as usual they will be the first to announce updates regarding new tokens listing in their platform.
@70Socios@Islamic_Coin Hello, they will provide you with updates in the near future regarding it. So, please stay tuned and ensure your notifications are enabled for get timely updates.
@nathsteboi@Islamic_Coin Regarding the issue you are facing, you can reach out to their support team by creating a ticket in their Discord server or Telegram.
Discord > https://t.co/er3VcGCoSP
Telegram > @islm_support_bot
@StudioArtPix1 @Islamic_Coin Kindly click the link above, complete the task and claim the badge, the next update will be announced. So, make sure to turn on your notifications to get timely updates.
@jack523405@Islamic_Coin You can check their new roadmap π https://t.co/4GwPZQzBwN and keep an eye on the official socials of all exchanges by enabling your notifications, as usual the exchanges will be the first to announce updates regarding new tokens listing in their platform.