MRHB, the first Halal Web3 ecosystem, launches TijarX – the Tokenized Commodity Exchange

MRHB.Network, a pioneering decentralized finance platform focused on developing ethical and halal crypto solutions, has launched TijarX, the first halal decentralized exchange (DEX) for physical commodities. Physical gold and silver backed tokens are the first to be listed.

TijarX is a blockchain-powered exchange that brings precious metals and other physical commodities on-chain via tokenization and traded via smart contracts, allowing these assets to be fully integrated with the broader Web3 and DeFi markets. In particular, all brands of goods to be listed on the exchange will be halal.

“We are very proud to finally launch TijarX and offer tokenized commodities to ethically conscious investors around the world,” said Deniz Dalkilic, CTO of MRHB. “Our core goal is to bring maximum utility to our Web3 ecosystem by bringing precious and illiquid commodities – which are difficult to transport and store in physical form – onto the blockchain. By tokenizing these commodities, they are made available to a much larger market that can trade or invest in these real-world assets.”

Dalkilic added: “To celebrate the launch, we are making the TijarX transaction fee-free for the next 6 months, further reducing the cost of investing and trading precious metals.”

The first commodities to be listed on the exchange will be gold and silver from the Ainslie Bullion Group’s Gold & Silver Standard (GSS). Every Gold Standard ($AUS) and Silver Standard ($AGS) token listed on TijarX is 100% backed and redeemable by physical bullion, securely stored and verifiablein the vaults of Ainslie, Australia’s leading bullion dealers since 1974.

As part of MRHB’s ambitious roadmap, the tokenized commodities that could be listed on the TijarX exchange by future partners may include copper, wheat, drinking water, oil or gas, among others.

TijarX is accessible via Sahal pursea self-custody, multi-chain crypto wallet developed by MRHB that acts as a gateway to the entire MRHB ecosystem of ethical financial services.

Designed to make commodities trading reliable and convenient

The exchange is designed and built to be simple, intuitive, and scalable from the ground up. To keep up with the ethos of DeFi, the software is open source — meaning any developer or team can build on it.

TijarX works similarly to other decentralized exchanges (DEXs), with trading pairs of different currencies made available through liquidity pools owned by external providers. For example, users have the option to buy GSS’ gold tokens in USDT/AUS and USDC/AUS trading pairs.

However, the model used to dictate the prices of commodity tokens on TijarX works very differently than the automated market makers common on DEXs. Instead, it relies on oracle price feeds for established assets like gold and silver. This allows commodities to be traded on TijarX while maintaining very strict margin restrictions by minimizing arbitrage opportunities that would result in a loss of liquidity.

“The TijarX exchange is not an end-to-end solution, but aims to be a one-stop shop for commodity owners who already have their own tokenized assets,” said Deniz Dalkilic, CTO of MRHB. “We look forward to scaling TijarX to an end-to-end solution in the future, but for now Its focus is to be a one-stop shop (OTC) for tokenized commodity owners to reach new communities in a trustless way.”

Only approved partners with whitelisted wallets can provide new tokens into TijarX pools, and full transparency is required to prove that tokens are truly backed by physical goods. MRHB DeFi cannot add or withdraw liquidity at all, but retains the ability to pause trading at the request of its partners if an exploit is suspected.

After the first six months of fee-free transactions, MRHB only charges a small trading fee of 0.03%. These fees are sent to the MRHB DAO treasury and sold for MRHB buybacks, which in turn are distributed to MRHB token holders on the MIRO stakeout platform.

More launches for MRHB are coming soon

MRHB launched its ecosystem token $MRHB in December 2021 in an oversubscribed IDO that raised over $5.5 million, mostly from first-time investors from its supporting community of over 60,000 ethically conscious people from 106 different countries.

The DeFi platform primarily targets the $3 trillion Islamic financial market, but the ideals they promote are also of interest to anyone concerned with making ethical financial decisions in their lives.

“We are building a platform with universal appeal,” said Khalid Howladar, MRHB Advisory Chairman. “Halal companies must follow very strict ethical financial principles, including transparency and sustainability, while avoiding social exploitation or usury. These standards have universal appeal to people around the world.”

Besides TijarX, MRHB.Network has already launched Sahal Wallet and SouqNFT Marketplace. The world’s first halal staking solution, MIRO, and a passive wealth generator, Liquidity Harvester, will also launch later this year, promising passive ROI generation of between 5% and 15%.

Four other upcoming launches are planned for next year, including an interest-free funding platform, an entrepreneur launchpad, decentralized philanthropy (DePhi), and many other Web3 infrastructure products and solutions.

Via the MRHB DeFi network

MRHB (pronounced “Marhaba”) is an ethical and halal Web3 platform designed to provide “Integrative DeFi and NFT Wealth and Business Solutions” to marginalized communities worldwide in the simplest way.

The diverse team consists of researchers, technocrats, influencers, Islamic finance experts and entrepreneurs who have come together to ensure that the MRHB ecosystem brings the full power of blockchain and crypto to positively impact society as a whole and essentially the Gap between “ethically conscious” communities and the Web3 world.

Photo by Peter Olexa on Unsplash

Read more articles: EU-regulated trading platform for digital securities and digital assets ASSETERA joins DINO distribution network

Halen Technologies opens its Security Token Offering on Akemona

Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers