Wrapped Islamic Coin
Crypto Overview
Overview
Wrapped Islamic Coin (WISLM) is a wrapped version of Islamic Coin (ISLM), designed to provide Sharia-compliant access to decentralized finance while maintaining compliance with Islamic principles. The token operates on the HAQQ Network, a dedicated Islamic blockchain platform.
Purpose and Utility
The primary stated purpose of WISLM is to serve as a bridge between traditional Islamic finance and decentralized finance, enabling Muslims to participate in digital asset markets while adhering to Sharia principles. The token is meant to facilitate transactions within the HAQQ ecosystem and provide a means of value transfer that aligns with Islamic financial principles.
Business Model Assessment
The project's business model appears to focus on providing Sharia-compliant digital asset infrastructure. The token itself doesn't involve interest-bearing mechanisms or explicit gambling features. 7.5% of all tokens are allocated to charitable causes through the Evergreen DAO, which aligns with Islamic principles of social responsibility.
Development and Adoption
The project shows ongoing development activity within the HAQQ Network ecosystem. While adoption is still in early stages, this doesn't impact its Sharia compliance status. The team maintains regular updates and continues to build infrastructure for Islamic finance in the digital asset space.
Crypto Impact
To assign a comfort level investing in Wrapped Islamic Coin from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Wrapped Islamic Coin.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.