[ANN] ADAB - First Islamic Crypto Exchange, based on the Shariah norms

[Genrix]

Guys, would you mind thinking about some of your investors? They wants funds to be proven, so I suggest you to disclose in the middle or in the end of tokensale.
But transparecny will bring you new investors!

[trobbert]

Are you going to finish ICO according to deadline?
As far as I know it should happen in the end of this year. Am I right or you will shift dates?

[drrekkty]

In subsequent developments for unsold tokens(ADAB), will it be burned or destroyed later to boost the value of tokens on the market?

Yes, it is planned to burn some of the tokens, as far as I know. But for a start the ICO should end.

Burning of tokens will affect price increase. It is a positive information, thank you for sharing! It makes me confident in future price.

[whitetoo]

Hello friends. I want to inform you that @JollyGood is a clown and probably a paid puppet.

I told him 3 times and denied his statements, but he doesn't respond!

1. https://bitcointalk.org/index.php?topic=4720775.msg48223449#msg48223449
2. https://bitcointalk.org/index.php?topic=4720775.msg48215153#msg48215153
3. https://bitcointalk.org/index.php?topic=4720775.msg48182957#msg48182957

So make a conclusion. This person know nothing about the project and only writes the same negative messages. I don't know why the moderators still have not banned him. Let's help them pay attention to this inadequate. Just click "Report to moderator" on his posts.

[JollyGood]

Does anybody know the legal situation in the UAE if Kazakhstan nationals open a scam company there and then vanish with the funds after the ICO ends?

[whitetoo]

Hello friends!

We want to post answers to frequently asked questions.

- When can we show a smart contract?

The smart contract address will be published during the crowdsale. Since it will begin public sales. Now we don't have the right to show a smart contract and any evidence.  Now there is a stage "private sale." At this stage, the amount of funds raised is not disclosed and facts are not shown. We did so stupid because we told you that we collected soft cap. Because of this, as you see, we have small problems, but everything will be fine.


- Evidence that we have already collected soft cap. Any documents, contracts or something else like that.

We do not have the right to show the collected soft cap at this stage. all funds were received during private sale and most of the funds were received in the form of fiat funds. Private sale is called "PRIVATE" because it is NOT public sales and NOT public information. Most of the funds were received from private investors. All projects that have a PRIVATE SALE stage DON'T show a smart contract and other evidence during this stage! We are not alone! We are not the first and We are not the last to do it! Don't confuse "PRIVATE SALE" with "PRESALE".

- Regarding each team member who is represented on the site. What religion do we follow?  And whether this or that person has any qualification in the field of Islamic finance.

All three Kazakh members (Rustam Turzhan, Timur Turzhan and Maxat Salpyn) are Muslims and belong to Hanafi (Sunni) school of thoughts as the majority of Kazakh people.

As for the Shariah Advisory Board of FICE, I would like to mention that the Islamic finance industry is heavily dependent on religious scholars for validation of its products and services. Each Islamic financial institution has a Shariah board to validate its operation. The scholars in our Shariah Board will represent different schools of thought within the Sunni sect of Islam. Sunnis are in majority and they follow one of the four schools of thought of Sunny Islam. The differences among them are very minor. Furthermore, a scholar who may otherwise belong to a particular school of though does refer to the opinion of the past or present scholars of a different school of thought in making a decision on the validity of a product or service.

Most of the team are Muslim by religion and adhere to the Sunni trend.
Confirmation is the recognition that there is no God except Allah and Muhammad is his prophet! Maxat Salpyn, Mufti Faraz Adam and Mufti Abu Bakar have qualifications in the field of Islamic finance.


- Concerning the beta version. When will the beta version of the exchange?

The dev team is working hard to create an exchange.
In the current version is ready the main engine exchange. You can check the correctness of his work yourself by sending different orders. You can check the correctness of the order match book, balance tests and market indicators. All this is our original design. At this stage, we are working hard on interaction protocols, system scaling, implementation of business logic of all orders to be launched, deployment of infrastructure blockchain, security and new design, technical analysis elements. I hope you will appreciate our achievements in these areas soon. We will try to update our system more often. Beta version will be ready by February.


- Concerning the MVP. @JollyGood writes that the MVP is a plugin bought for $ 20. What can we answer?

The answer will be short. This is our own development. Honestly, we don't know how to prove it. But this is not a purchased plugin. If you have any idea how to prove it, then suggest us.


- some arguments or evidence that this exchange and this token are halal and comply with Shariah law.

Mufti Faraz Adam issued a conclusion that the ICO and ADAB token comply with the principles of Islamic finance, based on Shariah law. https://bitcointalk.org/index.php?topic=4720775.msg48182957#msg48182957

The work of the exchange will be based on procedures developed by the internal Shariah Department and approved by the Shariah Council.

[JollyGood]

actually I don't understand how sariah norms can function in crypto ?
how about transaction fees? I have not seen if the adab has an attractive offer compared to the existing exchange

Nothing Shariah or religious about this scam project. Forget their fees and their ethics and moral about Shariah because they are lying to get ICO funding including from pimps and prostitutes so how can it be religious?

Instead just have a look at their "exchange" who would want to use that piece of trash to trade?

It has been strung together by using a few freebie plugins from tradingview.com being run on a basic $5 cms from 20 years ago.

 Yuk  

[JollyGood]

I did not see any complaints about this project, everything is going in the right direction, but in the future everything could be different

which direction? They are offer 150% bonus for everyone. Its look very strange

-- WARNING --



ABSOLUTE SCAM

Yes you are right it is very strange

They offer everything in order to get investors to send their crypto to the Adab Haraam exchange scammers.

There is no 150% bonus because the whole thing is a scam

[SergeyZ]

For me, it is better to wait for the growth of the market because if we sell it now with the market conditions that are going down, of course it will not provide benefits but it will provide a definite loss, but somehow it depends on your own decision

For me, too, it is better to wait for the growth of the market. I didn't sell the coins a week ago. Now I will wait.

[buttnonslet]

I also wanted to immediately start selling coins when the cryptocurrency market began to fall. But then I changed my mind. Because to sell and get a loss, I always have time. I'd rather wait for the market to grow.

Now is a good time to pick up interesting coins at the lowest price. Thanks to the whales for this opportunity.

[fgp5]

In subsequent developments for unsold tokens(ADAB), will it be burned or destroyed later to boost the value of tokens on the market?

Yes, it is planned to burn some of the tokens, as far as I know. But for a start the ICO should end.

How many tokens will be burned and when? They will be burned all at once or in several stages?

[Enchantment99]

Not all market customers managed to exit cryptocurrency before the market collapse. They have to either wait for the growth of the market or sell the coins at a loss.

that's right! Did you manage to sell crypto or still hold? I was in a big loss, but now I started all over again and try to increase my portfolio again

Bitcoin is not sold, and deposits in other coins put up for sale. Waiting for orders to work. But in order for them to work, I need market growth.

[MoLoKo789]

In subsequent developments for unsold tokens(ADAB), will it be burned or destroyed later to boost the value of tokens on the market?

Yes, it is planned to burn some of the tokens, as far as I know. But for a start the ICO should end.

You're right. Tokens are burned only after the completion of the collection of investments. Because now it is not yet known how many tokens will remain in the end.

[thinkme1st]

In subsequent developments for unsold tokens(ADAB), will it be burned or destroyed later to boost the value of tokens on the market?

Yes, it is planned to burn some of the tokens, as far as I know. But for a start the ICO should end.

How many tokens will be burned and when? They will be burned all at once or in several stages?

Usually the remaining tokens are burned after token sale and it's not ended yet. I guess they will burn all the remaining tokens once not in stages and it will be done few days after the end of ICO.

[Charisma359]

The main thing is that the team is able to raise enough money to launch its trading platform and conduct a good advertising campaign.

[JollyGood]

Where are the positive reviews about this scam on any internet forum?

Just the Russian sock-puppet multiple accounts used by the scammers pump this thread.

[Genrix]

Hello friends!

We want to post answers to frequently asked questions.

- When can we show a smart contract?

The smart contract address will be published during the crowdsale. Since it will begin public sales. Now we don't have the right to show a smart contract and any evidence.  Now there is a stage "private sale." At this stage, the amount of funds raised is not disclosed and facts are not shown. We did so stupid because we told you that we collected soft cap. Because of this, as you see, we have small problems, but everything will be fine.


- Evidence that we have already collected soft cap. Any documents, contracts or something else like that.

We do not have the right to show the collected soft cap at this stage. all funds were received during private sale and most of the funds were received in the form of fiat funds. Private sale is called "PRIVATE" because it is NOT public sales and NOT public information. Most of the funds were received from private investors. All projects that have a PRIVATE SALE stage DON'T show a smart contract and other evidence during this stage! We are not alone! We are not the first and We are not the last to do it! Don't confuse "PRIVATE SALE" with "PRESALE".

- Regarding each team member who is represented on the site. What religion do we follow?  And whether this or that person has any qualification in the field of Islamic finance.

All three Kazakh members (Rustam Turzhan, Timur Turzhan and Maxat Salpyn) are Muslims and belong to Hanafi (Sunni) school of thoughts as the majority of Kazakh people.

As for the Shariah Advisory Board of FICE, I would like to mention that the Islamic finance industry is heavily dependent on religious scholars for validation of its products and services. Each Islamic financial institution has a Shariah board to validate its operation. The scholars in our Shariah Board will represent different schools of thought within the Sunni sect of Islam. Sunnis are in majority and they follow one of the four schools of thought of Sunny Islam. The differences among them are very minor. Furthermore, a scholar who may otherwise belong to a particular school of though does refer to the opinion of the past or present scholars of a different school of thought in making a decision on the validity of a product or service.

Most of the team are Muslim by religion and adhere to the Sunni trend.
Confirmation is the recognition that there is no God except Allah and Muhammad is his prophet! Maxat Salpyn, Mufti Faraz Adam and Mufti Abu Bakar have qualifications in the field of Islamic finance.


- Concerning the beta version. When will the beta version of the exchange?

The dev team is working hard to create an exchange.
In the current version is ready the main engine exchange. You can check the correctness of his work yourself by sending different orders. You can check the correctness of the order match book, balance tests and market indicators. All this is our original design. At this stage, we are working hard on interaction protocols, system scaling, implementation of business logic of all orders to be launched, deployment of infrastructure blockchain, security and new design, technical analysis elements. I hope you will appreciate our achievements in these areas soon. We will try to update our system more often. Beta version will be ready by February.


- Concerning the MVP. @JollyGood writes that the MVP is a plugin bought for $ 20. What can we answer?

The answer will be short. This is our own development. Honestly, we don't know how to prove it. But this is not a purchased plugin. If you have any idea how to prove it, then suggest us.


- some arguments or evidence that this exchange and this token are halal and comply with Shariah law.

Mufti Faraz Adam issued a conclusion that the ICO and ADAB token comply with the principles of Islamic finance, based on Shariah law. https://bitcointalk.org/index.php?topic=4720775.msg48182957#msg48182957

The work of the exchange will be based on procedures developed by the internal Shariah Department and approved by the Shariah Council.

Great,fiinally you've managed to release answers! It is a great deal. Now people don't have doubts regarding ICO. Thank you so much

[drrekkty]

Wow, I didn't even know that PRIVATE sale is not to be disclosed.
It is a new information for me and now I realised why don't you show this info of collected funds.

[Freddy63]

Now I am satisfied with all questions and answers about Adab. You've increased my trust level, you've became more transparent for me. Thank you for this .

[drrekkty]

I see that concerns about MVP also have been answered,so let's pray the next beta version will be more attractive in terms of UI and everybody like it, even Jolly