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The Problem
Individuals seeking investment opportunities within the cryptocurrency market often encounter the dilemma of adhering to Shariah principles while exploring DeFi platforms. Yield farming, a popular DeFi practice, encompasses various subsets, including Staking, Lending, and Liquidity Mining. However, not all of these subsets align with Islamic ethics. For instance, lending involves interest (Riba), which is prohibited in Islam, posing challenges for Muslims interested in DeFi investments.
Yield farming involves liquidity providers (LPs) locking up cryptocurrency assets in liquidity pools, earning rewards in return. Liquidity Mining, as a subset of yield farming, enables users to provide liquidity to decentralized exchanges (DEXs) or DeFi platforms and earn rewards in the form of additional tokens or transaction fees. However, to be Shariah-compliant, Liquidity Mining must meet specific conditions: tokens used must adhere to Shariah principles, returns must not be guaranteed, and LPs should receive a percentage share of the pool's earnings, rather than a fixed amount.
The Solution
Liquidity Mining within Biokript adheres to Shariah principles by ensuring tokens' compliance, non-guaranteed returns, and a percentage share of pool earnings. This ethical approach creates a secure and inclusive platform for cryptocurrency enthusiasts seeking to maintain their values while actively participating in DeFi. Biokript holds the future of Shariah-compliant crypto investment with its limited time attractive APY rates when you lock your tokens.
APY Rates as follows:
  • ● 3 months lock: 60% APY
  • ● 6 months lock: 140% APY
  • ● 12 months lock: 300% APY
Shariah Compliant Tokens
Tokens within the Liquidity Mining process can be designed to align with Shariah principles. Biokript ensures that these tokens adhere to Islamic guidelines, refraining from dealing with illegal businesses such as alcohol, gambling, or interest (Riba). This commitment to ethical token development provides LPs with confidence in the ethical nature of their investments.
Shariah compliance emphasizes the principle that returns on investments should not be guaranteed. Liquidity Mining within Biokript adheres to this principle, allowing LPs to gain or lose liquidity based on the pool's performance and market conditions. This approach aligns with Islamic concepts of shared risk and ensures investments adhere to principles like Gharar (uncertainty) and Maisir (gambling).