DeFi Halal
Halal and Shariah-compliant loans without any interest charges are now possible thanks to DeFi Halal Protocol deployed on Polygon. It is based on battle-tested and audited contracts open-sourced by Liquity. All the contracts code is open and available to be inspected in verified contracts deployed on Polygon blockchain, immutable and not controlled by anybody! - 110% Minimum Collateral ratio DeFi Halal's efficient liquidation mechanism allows users to get the most liquidity for their MATIC. *Under normal operation. - 0% Interest rate DeFi Halal charges a small, one-time fee to borrow USDH instead of highly variable interest rates. - 1 USDH ≈ 1 USD Borrow USDH, a backed stablecoin pegged to the US Dollar that's maintained by an algorithmic monetary policy - Low fees One-off liquidation fee of only $1, 200x less than Liquity protocol - Minimum loan amount of only $9 Minimum loan amount is 200x times lower than on the Liquity protocol - Low redemption fees Low redemption fees compared to Liquity protocols Why can DeFi Halal be considered as Islamic or Shariah-compliant finance? Islamic banking is consistent with the principles of Shariah. A key factor is that it operates without interest, or riba, which is not permitted in Islam, as money by itself is not considered to be a commodity from which you can profit. Islamic banking is asset-backed which is the case with DeFi Halal as finance is provided against MATIC as the asset backing the loans.
About DeFi Halal
Halal and Shariah-compliant loans without any interest charges are now possible thanks to DeFi Halal Protocol deployed on Polygon. It is based on battle-tested and audited contracts open-sourced by Liquity. All the contracts code is open and available to be inspected in verified contracts deployed on Polygon blockchain, immutable and not controlled by anybody!
– 110% Minimum Collateral ratio DeFi Halal’s efficient liquidation mechanism allows users to get the most liquidity for their MATIC. *Under normal operation. – 0% Interest rate DeFi Halal charges a small, one-time fee to borrow USDH instead of highly variable interest rates. – 1 USDH ≈ 1 USD Borrow USDH, a backed stablecoin pegged to the US Dollar that’s maintained by an algorithmic monetary policy
– Low fees One-off liquidation fee of only $1, 200x less than Liquity protocol – Minimum loan amount of only $9 Minimum loan amount is 200x times lower than on the Liquity protocol – Low redemption fees Low redemption fees compared to Liquity protocols
Why can DeFi Halal be considered as Islamic or Shariah-compliant finance?
Islamic banking is consistent with the principles of Shariah. A key factor is that it operates without interest, or riba, which is not permitted in Islam, as money by itself is not considered to be a commodity from which you can profit. Islamic banking is asset-backed which is the case with DeFi Halal as finance is provided against MATIC as the asset backing the loans.
