ADAB: INTRODUCING THE FIRST ISLAMIC CRYPTO EXCHANGE
As far as we know, the question of securing the means of living has always and everywhere been considered and is still considered to be an important and essential problem of human life. In all periods of human life, it has been one of the main problems which have attracted the attention of the individual as well as the nations. From a study of Islamic teachings in the economic field we come to the conclusions that this divine system has paid profound attention to the effective role of the economic questions in human life and has taken precautionary measures against the harmful effects of economic injustice. The Qur’an says “surely Allah enjoins justice, kindness and giving to kindred, and he forbids indecency, wickedness and oppression. He exhorts you so that you may take heed” (Surah al-Nahl, 16:90). Hence the general spirit which governs all Islamic teachings consists of support to justice and fair play, doing well to others, care of the kindred and fight against injustice and corruption. This is the basic criterion for judging the true teachings of Islam in all fields. Islamic economics entails the rules of transacting finance or other economic activity in a Sharia compliant manner, a manner conforming to Islamic scripture.
In the wake of many Middle Eastern countries declaring Bitcoin not compatible with the Sharia law or Islamic values, one Islamic Cryptocurrency is being marketed in Muslim countries and that is ADAB. It has so far realized its potentials. In the late November 2017, religious leaders in Egypt and Turkey denounced Bitcoin and virtual currencies as non Islamic Diyanet, Turkey;s Directorate of Religious Affairs said that buying and selling virtual currencies is not compatible with religion and at this time because of the fact that their valuation is open to speculation, they can be easily used in illegal activities like money laundering and they are not under the state’s audit and surveillance. To combat the negative outlook on virtual currencies, Adab was created to solve problems like reducing the absence of a crypto exchange functioning in accordance with the norms of Sharia, the lack of unified position of the Muslim community on cryptocurrencies, uncertainty of Muslims regarding the admissibility of working with cryptpcurrencies, community trust in crypto market, new market and investors and reducing the interest bearing debt, protecting devaluation of assets and creating an efficient new medium to transact for the Muslim community. Adab is designed to be a Sharia-compliant cryptocurrency, allowing Muslims to be able to trade and exchange coins while staying compliant with their faith.
Adab is a way of life in Islam which the founders of the project consider not only natural in everyday life but an obligatory foundation of business relations. It is a platform not only for Muslims and Islamic blockchain startups; it is an open market place for anyone who wants to build an honest technology business. Adab has solved the problem of halal cryptocurrency transactions providing access to cryptocurrency market for Muslims. The principles and values are based on the norms of Sharia and Islamic financial principles. An Adab solution integrates the Islamic management model into the business management and business risk management system as an integral part of the company’s management system. It will completely exclude the possibility of speculative transactions margin, trading and operations that do not correspond to Sharia thereby excluding Gharar, Maisir and Ribu from the work of the exchange. It has not only solved the problem of halal cryptocurrency transactions, it has also solved the problem of excessive risks in cryptocurrency systems and the problem of developing Islamic crypto exchange infrastructure. Adab solutions also undertakes to deduct 5% of its net income for each quarter and 2.5 of annual net profit for charitable purposes which will be for the basis for the charitable foundation of Adab putting the sacred pillars of Islam- Zakat into practice. Why this project is beneficial is because it operates on the principles of Islamic finance and the community that regulates the development of Islamic crypto-economics. It’s a win-win for those who are Islam. The system is transparent with safe jurisdiction which makes buying and selling of cryptocurrencies for fiat money in the exchange is possible. There is no risk involve in it ass rewards are given. Users also have the ability to enter and withdraw funds through banks. There is also a guarantee in the absence of excess Gharar in transactions (al-gharar al-kasir). It’s a totally reliable, honest and transparent platform due to the culture, ethics and principles of the Sharia.
ADAB UNIQUENESS
UNIQUE AIMS OF ADAB
To create a cryptocurrency platform exchange and services that complies with the norms of the Sharia and operates on the principles of Islam
UNIQUE BENEFITS OF ADAB
• Why this project is beneficial is because it operates on the principles of Islamic finance and the community that regulates the development of Islamic crypto-economics. It’s a win-win for those who are Islam
• The system is transparent with safe jurisdiction which makes buying and selling of cryptocurrencies for fiat money in the exchange is possible
• There is no risk involve in it ass rewards are given
• Users also have the ability to enter and withdraw funds through banks
• There is also a guarantee in the absence of excess Gharar in transactions (al-gharar al-kasir)
• It’s a totally reliable, honest and transparent platform due to the culture, ethics and principles of the Sharia
TOKEN DETAILS OF ADAB
Soft cap = $2 500 000. 480 000 000 tokens will be issued 1 ADAB = $0.1
Public relations: 15%
ICO Listing: 15%
Investor relationships: 70%
TOKEN DISTRIBUTION OF ADAB
Participants of pre-ICO and ICO: 72%
Reserve fund: 15%!
Founders and Team: 8%
Advisors and experts: 4%
Bounty campaign: 1%
ADAB STRUCTURES OF FINANCING
Equipment, software: 24%
Development: 21%
Marketing: 20%
Operational costs: 17%
Contingencies and other costs: 12%
Legal costs: 4%
Consultation services: 2%
ROAD MAP OF ADAB
2017
STAGE 1
June-September 2017
The beginning of the study of the cryptocurrency market in the Islamic community
STAGE 2
September 2017
The formation of goals and objectives, to address the problem of Muslim access to the cryptocurrency market
STAGE 3
December 2018-May 2018
The development of the philosophy and mechanics of the exchange based on the principles of the Islamic financial model
STAGE 4
September-November 2018
ICO to finance and promote the Islamic cryptocurrency exchanges
STAGE 5
October-December 2018
Development of the program mechanism of the first Islamic crypto exchange
STAGE 6
January- March 2019
Registration of the first Islamic crypto exchange. Start of work on Adab Crypto (News Portal & Forum) and Adab charity
STAGE 7
February-March 2019
Alfa release of thr first Islamic Crypto Exchange, functionality and security check
STAGE 8
December 2018-December 2019
Launch a large scale marketing campaign, in order to attract new users on a large scale
STAGE 9
April 2019
Beta release of the Islamic Exchangee First Islamic Crypto Exchange with the support of cross-platform trading clients
STAGE 10
July 2019
Official launch of the first Islamic Crypto exchange
STAGE 11
June 2019-December 2019
Expansion of the functional content of the first Islamic Crypto exchange
Stage 12
August 2019
Run Adab charity
STEP 13
December 2019-July 2020
Formation on the bases of Adab solutions platform and first Islamic crypto exchange of a reliable and developed infrastructure based on the principles of Islamic finance
TEAM MEMBERS OF ADAB
Project team
Timur Turzhan: CEO Founder
Rustam Turzhan: Operations Director, co-founder
Maxat Salpyn: Deputy CEO of Islamic Finance
Aleksander Mamasidikov: Chief Marketing office
Dmitriy Rovenskikh: Director Rovenskikh: Director of project promotion
Asset Barakbayev: CTO
Pavel Krayev: Head of Development Department
Didar Bidam: Senior IT Advisor and DevOps
Khalil Ben Sassi: Graphic designer
Mamoun Jamaladdin: community manager (Arabic)
Abeer Mousa: Community Development Manager
BOARD OF ADVISORS OF ADAB
Sulaiman Al-Fahim: Advisor on investment and strategic development
Igor Karavayev: strategic advisor
Muhammad Abu Bakar: Advisor on Islamic finance
Majed Ibrahim Ali Naqi: Advisor on fundraising
Gaurav Areng Chakraverti: Marketing ICO Advisor
Michael Damour: Investing Advisor
Vladimir Malakchi: Crowdfunding Advisor
Jorge Rodriguez: Security Advisor
Shane Rushent: Technical and Usability advisor
WHITEPAPER: https://adabsolutions.com/pdf/WhitePaper_of_ADAB_Solutions.pdf
WEBSITE: http://adabsolutions.com/
FACEBOOK: https://www.facebook.com/adabsolutions
TWITTER: https://twitter.com/AdabSolutions
MEDIUM: https://medium.com/@adabsolutions
Written by: Ogtejiri
Bitcointalk url: https://bitcointalk.org/index.php?action=profile;u=1790132
Wallet address: 0x33E8810b5432ccD823b6c45975A55Fb9F6c931D6