AMA Series: Crypto Leaguee x Marhaba DeFi

We held an AMA in the Crypto Leaguee Telegram group where our Founder, Naquib Mohammed and Chief Shariah Architect, Dr.Farrukh Habib addressed the community about Inclusive DeFi and blockchain applications. Following is the encapsulated brief of discussion.

Date : 11th July 2021, Sunday

Time : 02:00 PM UTC

Venue : Crypto Leaguee Telegram group

Host : Odin, Manak

Speaker : Naquib Mohammed (Founder), Dr.Farrukh Habib (Chief Shariah Architect)

AMA Transcript

Naquib:

Hello And Warm Greetings fellow crypto lovers 😊.

manak bro Crypto League:

Hey guys😉

We are beginning now😍😍

Naquib:

Excited 🤞🏻

manak bro Crypto League:

@odin961 you can start now mate😉

Odin:

Sure

Goodmorning Crypto leaguians🔥🔥

We are so glad to have @DrFarrukhHabib @odiatokkanaquib here with us for today’s AMA session🔥😉

Hey @DrFarrukhHabib @odiatokkanaquib sir, so nice to have you all here on board with us😉

Naquib:

Equally elated mate. Thank you for inviting us to the session

Odin:

Lets begin today’s session now shall we?

Naquib:

@DrFarrukhHabib you ready shaikh?

Farrukh:

Al-salaam alaikum and hello everyone

it is a pleasure to be here

Odin:

So let’s begin 🔥🔥

💎 Introduction Segment 💎

Odin:

Q1) Can you Please Introduce yourself to the Community Please?

Naquib:

@DrFarrukhHabib go first please.

Farrukh:

Thanks

I am Dr Farrukh Habib, my background is shariah (Islamic law), finance and fintech. I have been in the crypto space since 2016 as a researcher (not as an investor :) )

I have been an advisor for some crypto and blockchain projects

that’s all from my side

Naquib:

My name is Naquib, and I am the founder and chief strategist of the Marhaba Crypto finance project. I have a 12+ years of experience being a technology architect, and have delivered solutions half the globe. In blockchain since a couple of years, started in enterprise projects and then moved to defi 2 yrs back.

Done

Odin:

Great introduction 🔥🔥

Naquib:

:)

Odin:

Let’s move to our next question

Q2) Can you Tell us About Marhaba Defi in detail?

Naquib:

Well, Marhaba was incubated when we were researching DeFi protocols. We discovered most of them are strictly non shariah compliant. Hence Marhaba was born to bring shariah based DeFi solutions, to include the Muslim community AS WELL into the defi ecosystem.

Done

Odin:

Great to hear that🔥🔥

Naquib:

We are a team of researchers, technocrats, influencers, reputed islamic fintech experts and senior business entrepreneurs, who came together to ensure that we bring a DeFi solution, that will impact the society as a whole

Odin:

Q3) What is the Strongest feature of Marhaba Defi which you think makes your token $MHB stand out from your Competitors?

Naquib:

@DrFarrukhHabib , your best shot please 👆🏻

Farrukh:

Financial exclusion is one of the major problems in the world. Many researches have found that financial inclusion can contribute in eliminating poverty. Marhaba Defi is focusing on financial inclusion. Shariah compliance is the main ingredient of $MHB token and Marhaba platform that aims to bring ethical and social values to the defi world.

Marhaba defi does not look at its peers as competitor, with a strong ideological basis, we believe to set a new direction for other peers as well

Odin:

Your guys have some really great goals🔥💥

Naquib:

Not sure if they are great. But for sure sincere

Farrukh:

Thanks @odin961

Odin:

Indeed ☺️

Q4) What are advantages of holding $MHB for long term? Are there any short term advantages as well? If yes then please shed some light on it?

manak bro Crypto League:

Guys dont forget to join @mdf_official for taking part in Live Session!😍😍

Naquib:

The project is built keeping long term investors and participants in mind.

There are a carefully curated list of token utilities that will be published as per the release of products. One at a time).

Odin:

Crypto leaguiens🔥🔥

Now let’s jump to our last question from introduction segment 😉🔥

Farrukh:

Marhaba Defi is an ecosystem that is backing the $MHB token. In that sense, it is not just a token designed for a narrow purpose. It represents the value of a complete set of defi products and services. That should be taken into long term considerations as well

Odin:

Marhaba Defi is here for a long time for sure🔥🔥

Naquib:

Insha’Allaah . We are here with an ambitious vision and a sincere intention to bring safe defi to the non crypto savvy community

Farrukh:

The short term benefits are that many products and exciting features will be released at their time, with those utilities in mind, it will have a strong growth

Odin:

Great 💥

Is it done sir?

Q5) Partnerships are extremely important for any project to grow and shine in the sky! So can you tell us some of your recent partnerships and also how do you plan to make it better?

Naquib:

Sure

We have partnered with blockchain australia, for marketing and business support.

Became part of Crypto climate accord to ensure that the carbon neutral solutions are introduced to crypto world

We partnered with Kanzun ventures in malaysia.

Apart from these, we are discussing with some giants in the defi arena to work in collaboration to bring decentralised storage and zero knowledge proof based solutions onto marhaba.

Keep tuned to the main announcementa channels, and we will release many exciting news soon

Odin:

Perfection!!!😍

Twitter Segment 💎

Odin:

First Question from Twitter

The Total Supply of $MHB tokens was 500million which was later upgraded to 1billion.

My question is What is the reason behind doing so?what advantage the 1Billion $MHB tokens will bring to the ecosystem??

From @jakob56812

Naquib:

500 m was decided when we were at a very early stage and the concept was still being finalised. Later as more brains joined in and the scope of the project expanded into an ecosystem rather than just a project, we had to rework our tokenomics.

The optimised version as u see now is a result of a lit of market study and suits best to the long term vision of the platform and the teams ambitions.

Odin:

Thats sounds good😍

Let’s move to our next question 😉

Second Question from Twitter

I read that Marhaba Platform will host an open marketplace built on the Binance Smart Chain to facilitate and promote Islamic Arts and contemporary Calligraphy, yet, what are your strategies for spreading awareness of Islamic Arts internationally?

From @PritamK09

Farrukh:

- Since Marhaba Defi itself is a decentralized and distributed platform (in other words, international) incorporating Islamic arts at such a platform will promote the awareness at the global level.

- Our platform will encourage artists to share their work and show their talent at a larger scale

- We can also try to have Islamic art auctions, art competitions and other events to promote this niche market

Odin:

Third Question from Twitter

I would like to know more about the “MHB offerings” to be more specific the #SahalWallet.

Please elaborate the benefits and Mechanism of the Sahal Wallet..

Thankyou

From @charjakie

manak bro Crypto League:

Nice one!!!

Naquib:

Sahal wallet comes with an aim to be a front end of the whole Marhaba ecosystem. We start with simple features, grow our user base, and slowly introduce the community to more advanced features of the DeFi ecosystem.

At the start, Sahal wallet solves the basic problem of the muslim community:

1- which token is shariah compliant

2- where and how to buy them

manak bro Crypto League:

Awesome!

Odin:

Fourth Question from Twitter

Tell us, Does Marhaba Defi have any plans to localize their app to suit the needs of people who speak other languages..? If you have plans to localize your app, which top languages to start with besides English?

From @Pratham58816

Naquib:

Great question again.

Because we are tight on timelines, we will start with english, and slowly include the following languages:

Malay

Indinesian

Arabic

Vietnamese

Hindi/Urdu

We dont have the timelines now, so stay tuned to our announcement channels, where we will post the updates

Odin:

Perfect answer 🔥🔥

Let’s jump to our last question from Twitter segment

Fifth Question from Twitter

#MarhabaDeFi

As it is mentioned #MarhabaDeFi is the first Shariah based Islamic DeFi

So,Can you tell us what additional value the Shariah Concept adds to the DeFi world?what are the benefits of this Shariah Concept from the user’s prospective??

From @harrypotter8704

Farrukh:

It is good question.

- A shariah compliant platform is currently non-existent in the defi space, therefore, Marhaba defi brings a real innovation into the space. In other words, it brings ethical and social aspects to the defi world, which in turn, gives more credible, sustainable, and responsible touch to it.

- the users will have more confidence and trust in a defi platform with more peace of mind.

- It is a huge step towards bridging the gap between an underserved market (the Muslim world) and the defi world looking for extending its outreach

Odin:

It seems very good to me😍🔥

manak bro Crypto League:

Perfection!!

Odin:

Thank you so much for answering questions from Twitter Segment

Live Segment ( free ask) 💎

• First Question :

Peerzada Aabid:

Will there be any type of screening for creaters in souq NFT marketplace or it will be open for all?

Apart from that how this will be different from the rest of the NFT marketplace?

Naquib:

There will be for sure. On a high level, we will filter the broad categories. After that the shariah team is working in to devise the category to enable intelligent scrutiny of the content.

I would be honest in saying, that we will try 100% to keep the marketplace clean, but being the nature of an ipen marketplace, it would not be possible to ensure 100% compliance

• Second Question :

Julia Murad:

We all know NTF is one way to make projects have a bright future, and many projects include NFT in it.

My question is do you and your team have any plans to incorporate NFT into #marhabadefi ?

@DrFarrukhHabib

@odiatokkanaquib

Farrukh:

Yes, we have plans to incorporate Souq NFT (an NFT marketplace) into Marhaba defi ecosystem. We are aiming to provide an NFT marketplace under the Islamic ethical guidelines.

• Third Question :

I am The Best Person:

Has any audit been done by your project? how secure is to use your platform tell us about adopted security measures?what steps will you take so that your security can last in the long term?

Naquib:

We have 2 audit categories in our project.

First the shariah audit

Second the technology and contracts audit.

The 1st is being undertaken by the talented shariah team and will be externally audited by organizations and reserchers.

The second, we dont have the smart contract live by now, but before going live, we will ensure the auditing by external security auditors

• Fourth Question :

Sheikh:

Is there any tutorial or whitepaper to guide us?

Farrukh:

The litepaper, Shariah concept paper and 1 pager are already on the official website, the whitepaper will be released soon

• Fifth Question :

Sheikh:

Many bIockchain projects are simply failures or products which are by no means ineffective. Please tell us what strategy are you running?

Naquib:

The projects fail due to lack if vision. We are ensuring that the team behind the plan is serious and understands the future of defi.

The tokenomics and the product roadmap will give you an understanding of the future plan.

Plus, each one of us have a publicly verifiable and reputed backgrounds. We are here to stay. Will you stay with us too ? 🙂

- Segment concluded

manak bro Crypto League:

Well with this we finally came to an end of segment 3 as well guys😉

It was really amazing knowing about you guys!!!😍

Marhaba Defi Really seems a promising project😉

Crypto League supports you guys from their Hearts🔥

Naquib:

Thank you so much.

Appreciate the collaboration and support 🙌🏻

manak bro Crypto League:

Always in support❤️

Naquib:

Our team will take care of all the queries, and keep the discussion alive

manak bro Crypto League:

Suee sir thanks🔥

End of AMA Transcript

About Marhaba DeFi

Marhaba DeFi is a platform built to embody the true spirit of an “Inclusive DeFi” by promoting participation finance, where all communities, including the ones from the Islamic World, can benefit from the benefits of DeFi.

Based on the tenets of Blockchain such as trust, transparency, and security; Marhaba DeFi has encapsulated universally applicable principles of Shariah into those tenets of Blockchain to render a suite of offerings.

Marhaba DeFi was founded with the vision of bringing a “Muslim also” platform, rather than making it an exclusive “Muslim only” offering.

We are a diverse team of researchers, technocrats, influencers, islamic fintech experts & business entrepreneurs, who came together to ensure that Marhaba DeFi prevails in a manner that will impact society as a whole, essentially bridging the gap between the Faith-Conscious Communities and the Blockchain world.

Read more about Marhaba DeFi here:

Website | Twitter | Telegram Chat | Telegram Announcements | Medium | Documents | Facebook | LinkedIn | Telegram Arabic Community

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Official Account of the Marhaba DeFi Platform

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Official Account of the Marhaba DeFi Platform

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