Muslim Coins (MUSC) Initial Exchange Offering (IEO) went live on Probit Global exchange on September 30. Its first round ended October 10th and reportedly raised up to half a million. A second round is live as we write. This second round is scheduled to end on October 24th And is offering up to 15% bonuses. The native token incorporates a zakat system: a 2% tax on every transactions and all the incoming projects are Islam-compliant. The Muslim Coins would allow people to respect their holy duties just by using them, as MUSC tokens allow to do one’s zakat: the 2% tax on all transactions is converted into classical currency, then reversed to associated charities. That function will also be permitted when the Muslim Coins credit card will be developed, allowing one to make direct zakat while using the card in any condition.
Tokens are currently available for $0.042 USDT via IEO and will be listed at a price of $0.05 USDT. Muslim Coins is a Sharia-compliant financing solution that offers a way for the muslim community to practise their religion while using the digital token. On top of it, the Muslim Coins ecosystem offers some Defi solution for profitable investment.
Islamic financing is a huge sector in itself with a combined value of $4,000 Billion which is twice the national wealth of some of the developed nations such as France. Muslim Coins token means to become the default digital financial tool for nearly 1.8 billion combined muslim population. The Muslim faith works on certain principles and very few digital currencies fall under the parameter of use, thus MUSC tokens can fill that void and bring the Islamic Financing Culture under one decentralized roof.
What Separates Muslim Coins From Other Defi Projects?
Muslim Coins offers a Defi ecosystem like no other with the native token MUSC acting as the main fuel of the network. MUSC token can be universaly-owned and widely accepted across the Muslim countries making it a go-to currency for muslim population across the world. The focus on faith and the economic development of the whole Ummah – the community of Islam in its whole – sets it apart from other defi projects. While Muslim Coins have all the advantages of DeFi ecosystem, it leverages those advantages to unite mulsim fraternity under one financial roof.
The Muslim Coins ecosystem is build on top of the very popular Binance Smart Chain (BSC) making it easily available, accessible and transactions on the network are comparatively faster and chaper. The ICO fundraising is only the first step towards establishing the MUSC token as the digital token of the Ummah. Once the token is listed on various exchanges post the IEO, it would incorporate new financial services to gain more momentum on the market.
Muslim Coins Ecosystem: Wallet and Debit Card
To ensure the quality and features of Muslim Coins remain up to the brand, only three projects are being developed at present that include:
Credit card: To be used to pay directly one’s current expenses with Muslim Coins or FIAT, with a zakat system.
Wallet Application: To exchange Muslim Coins at will and convert them to FIAT. This would make the Muslim Coins a currency useable everywhere, from Paris to Algiers, from Mecca to Jakarta, whether one might want to pay for current expenses or to put aside, a digitalized currency useable everywhere in the Ummah.
Cashback: The Muslim Coins ecosystem makes it easier for Muslim trades to develop by incorporating a cashback system linked to the MUSC holders. The partnerships will allow the MUSC to play an evergrowing role in the development of Muslim shops.
The Muslim Coins would have a Total Supply of 500 million MUSC tokens, at a launch price of 0.042 USDT per token. These 500 million tokens are divided into seven expense items:
ICOs (tokens sold during IEO and Listing),
Swaps (tokens provided for the swap pools),
Teams remuneration,
Marketing (provisioned tokens for marketing campaigns),
Private sales (first sales),
Pre-Sale and Reserve (in order to face any unexpected obstacle).
The first quarter of 2022 would see Muslim Coins complete the development of the digital wallet following which the credit card issuance and cashback programs would begin. By the second quarter of the next year the mobile app that will power the ecosystem will be launched as the token would start trading on numerous exchanges. The whole ecosystem is expected to be up and running by 2022 with the aim of bringing the 1.8 billion muslim community under one digital finance roof and expand the use of MUSC token.
Disclaimer: This publication is sponsored. Coinspeaker does not endorse or assume responsibility for the content, accuracy, quality, advertising, products, or other materials on this web page. Readers are advised to conduct their own research before engaging with any company mentioned. Please note that the featured information is not intended as, and shall not be understood or construed as legal, tax, investment, financial, or other advice. Nothing contained on this web page constitutes a solicitation, recommendation, endorsement, or offer by Coinspeaker or any third party service provider to buy or sell any cryptoassets or other financial instruments. Crypto assets are a high-risk investment. You should consider whether you understand the possibility of losing money due to leverage. None of the material should be considered as investment advice. Coinspeaker shall not be held liable, directly or indirectly, for any damages or losses arising from the use or reliance on any content, goods, or services featured on this web page.
