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

[Pline]

I've checked their MVP and it is ok for me. I don't need special features of trading terminal, the simpler it be the better for me, because I don't need a lot of features.
The main point should be released is Shariah compliency.

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[Twinkledoe]

I am confused by the fact that the ADAB-exchange will trade only the main crypto-currencies. Perhaps by Shariah norms this is the right decision. But in order to attract as many people as possible, including non-Muslims, the exchange must trade various types of cryptocurrencies.

I fully agree with you, the more trading pairs on the exchange itself, the better.

Do you think ADAB will list only shariah coins ?)) Of course they will list all the coins.

Only if Sharia tokens, then the exchanger will specifically target one topic, it is not very profitable for marketing purposes.

Of course it will be not clever decision to list only sharia tokens. They just need not to list scam coins.

Just make the right listing for customers and the question will be closed, there are rules everywhere and they need to be followed.

In any case, you need to add only good coins, because reputation is the most expensive thing that the project has

Of course, any exchange which values their reputation will not list scam coins. I think ADAB understand this.

Adab will not list scam coins and non shariah coins. It is told in their WP. I hope we can believe it. But let's see once exchange is launched

WIll not list shariah coins? I do not see it in the whitepaper, I hope they know what they do.

If that's the case, I wonder how many coins will be in this exchange. I believe it's subjective categorizing a certain coin as shariah and non shariah. The exchange will not be prosperous if they will ever implement such kind of distinction.

[whitetoo]

@ whitetoo



Q1: You refer to Adab Solutions as "we". You wrote earlier "We are developing a beta version and submit it in January. Just wait and see everything. It will certainly differ significantly from the MVP." What is your position and what is your work within Adab Solutions? You answered several posts highlighting Shariah so are you Muslim? Do you follow Shariah?

Q2: The 3 Team members that the owners from Kazakhstan - what is their full religious denomination? If Sunni which branch? If Shia' which branch? If anything else, which branch?

Q3: The multiple aliases flooding this thread - who is the owner and what gain is in it for the flooders?

Q4: Why did the Team decide to register in Umm Al Quwain rather than Dubai or Abu Dhabi? Why choose UAE over their native Kazakhstan or Uzbekistan?

Q5: Will any/all investors that participate in the ICO have to send ID for KYC/AML? If so, why?

Q6: KYC is a sensitive issue for many. If the exchange is active and users sign-up and send KYC ID then which precautions are taken to ensure the ID will not be misused?

Q7: Both Md Mofassair Hossain and Kazi Sohel Alom have been removed from the whitepaper and the Team section of the website. What were real full reasons for their removal?

Q8: At present there is no exchange, the business is just a company on paper. Adab Solutions are seeking investment. At the ICO and pre-ICO stage they are unable to fully vet investors therefore they might be getting people sending in funds from illicit, illegal and immoral sources such as prostitution.

If KYC is being done at ICO an pre-ICO stage then why not ask specifically for an annual tax return and letter of employment with salaries stated? Add to that the checking of all available information about the investor such as FB, Twitter, Insta etc to check to see if they are being honest. This might make investment slightly harder by putting investors off but it will filter out those people that should never invest in a Shariah project.

If any project is a standard non-Shariah project then there would be no need to take extra precaution. If a project is based around Shariah then extra precautions must be taken.

Please note, the question is specifically about ICO and pre-ICO stage investment when there is no live business or working product (it is not about anybody using services a live exchange provides). I have read what Maxat Salypn wrote in a generic sense but I need to ask for a specific reply: https://bitcointalk.org/index.php?topic=4720775.msg46790691#msg46790691

Q9: Please explain fully why you lied and said I took money from you and said that that I worked for you and was fired by you.




I have many questions but have narrowed them down and limited them just to the above.

I understand and appreciate some of the questions will take time to answer because you will put them forward to the relevant parties and must wait for their replies. Thank you.

I appreciate the false accusations of theft made against me were not from the Team members. It was made by you and an alias (and I am waiting for an explanation why you did it as per Q9). Having said that if Adab Solutions are following Shariah and the answers satisfy, I will gladly remove any posts they ask me to.

Furthermore I will gladly put a pro-Adab Solutions signature until their ICO is over. I do not participate in bounties and airdrops so will do it for free providing I receive specific non-generic answers to my questions with Q8 being the most important one.

Q1, Q3 & Q9 are specific to you so please reply within 24hrs otherwise post here stating your position. Thank you

Thank you for changing the tone of communication.
Give me 1-2 days. I will answer your questions here and notify you by the PM that the answers is ready.

Q1, Q3 & Q9 are specific to you so please reply within 24hrs otherwise post here stating your position. Thank you

ok. Will answer ASAP

[kkerrex]

We will show the beta version. Also very soon you will see the FACTS and the EVIDENCE that the project relates to Muslims and will work according to the laws of Shariah.

regards.

I will be pleased to test your beta version.

The beta version will still need to wait a bit, then all together we estimate the work of the team

It will be necessary that they leave a feedback form so that people can write not only about errors in the beta version, but directly to the developers themselves.

On the roadmap, the beta version should come out roughly speaking at the beginning of next year, at the same time we will check its security and functionality.

I am going to wait for futher development of this project. If they tell us beta will be completed by the 1st quarter of 2019, then they will deliver it in time

[SSend3r]

I am confused by the fact that the ADAB-exchange will trade only the main crypto-currencies. Perhaps by Shariah norms this is the right decision. But in order to attract as many people as possible, including non-Muslims, the exchange must trade various types of cryptocurrencies.

I fully agree with you, the more trading pairs on the exchange itself, the better.

Do you think ADAB will list only shariah coins ?)) Of course they will list all the coins.

Only if Sharia tokens, then the exchanger will specifically target one topic, it is not very profitable for marketing purposes.

Of course it will be not clever decision to list only sharia tokens. They just need not to list scam coins.

Just make the right listing for customers and the question will be closed, there are rules everywhere and they need to be followed.

In any case, you need to add only good coins, because reputation is the most expensive thing that the project has

Of course, any exchange which values their reputation will not list scam coins. I think ADAB understand this.

Adab will not list scam coins and non shariah coins. It is told in their WP. I hope we can believe it. But let's see once exchange is launched

WIll not list shariah coins? I do not see it in the whitepaper, I hope they know what they do.

Maybe it is logically if it is Muslim exchange . But I think popular coins such as ETH,DASH,NEO and etc will be there , too.

[sword024]

Exactly they list popular crypto currencies, but will avoid listing shady projects, this is the main goal, to prevent listing of tokens created to deliver alcohol, gambling and so on

[kkerrex]

In fact, if you look at all the information on the site, the team really prepared everything very well, the most important thing is that everything is at the highest level of preparation, it will all give investors confidence that by investing money here they will have their own good interest

Yeah, level of preparation is important,but you will have to realise that development isn't a simple process and it can't be done for a short period of time.

[SSend3r]

Exactly they list popular crypto currencies, but will avoid listing shady projects, this is the main goal, to prevent listing of tokens created to deliver alcohol, gambling and so on

I even do not think about this. Indeed there many tokens which are making alcohol, gambling, private videos and etc, and they are all out of laws of sheriat.

[trobbert]

I am confused by the fact that the ADAB-exchange will trade only the main crypto-currencies. Perhaps by Shariah norms this is the right decision. But in order to attract as many people as possible, including non-Muslims, the exchange must trade various types of cryptocurrencies.

I fully agree with you, the more trading pairs on the exchange itself, the better.

Do you think ADAB will list only shariah coins ?)) Of course they will list all the coins.

Only if Sharia tokens, then the exchanger will specifically target one topic, it is not very profitable for marketing purposes.

Of course it will be not clever decision to list only sharia tokens. They just need not to list scam coins.

Just make the right listing for customers and the question will be closed, there are rules everywhere and they need to be followed.

In any case, you need to add only good coins, because reputation is the most expensive thing that the project has

Of course, any exchange which values their reputation will not list scam coins. I think ADAB understand this.

Adab will not list scam coins and non shariah coins. It is told in their WP. I hope we can believe it. But let's see once exchange is launched

WIll not list shariah coins? I do not see it in the whitepaper, I hope they know what they do.

You didn't understand properly. Their primarly purpose is to do shariah compliant business and as a result they don't list everything braking shariah rules.

[Freddy63]

Hey, how about updating supportes with recent news? personally I rarely use something besides bitcointalk to find information about news, announcements

[daly896]

@ whitetoo



Q1: You refer to Adab Solutions as "we". You wrote earlier "We are developing a beta version and submit it in January. Just wait and see everything. It will certainly differ significantly from the MVP." What is your position and what is your work within Adab Solutions? You answered several posts highlighting Shariah so are you Muslim? Do you follow Shariah?

Q2: The 3 Team members that the owners from Kazakhstan - what is their full religious denomination? If Sunni which branch? If Shia' which branch? If anything else, which branch?

Q3: The multiple aliases flooding this thread - who is the owner and what gain is in it for the flooders?

Q4: Why did the Team decide to register in Umm Al Quwain rather than Dubai or Abu Dhabi? Why choose UAE over their native Kazakhstan or Uzbekistan?

Q5: Will any/all investors that participate in the ICO have to send ID for KYC/AML? If so, why?

Q6: KYC is a sensitive issue for many. If the exchange is active and users sign-up and send KYC ID then which precautions are taken to ensure the ID will not be misused?

Q7: Both Md Mofassair Hossain and Kazi Sohel Alom have been removed from the whitepaper and the Team section of the website. What were real full reasons for their removal?

Q8: At present there is no exchange, the business is just a company on paper. Adab Solutions are seeking investment. At the ICO and pre-ICO stage they are unable to fully vet investors therefore they might be getting people sending in funds from illicit, illegal and immoral sources such as prostitution.

If KYC is being done at ICO an pre-ICO stage then why not ask specifically for an annual tax return and letter of employment with salaries stated? Add to that the checking of all available information about the investor such as FB, Twitter, Insta etc to check to see if they are being honest. This might make investment slightly harder by putting investors off but it will filter out those people that should never invest in a Shariah project.

If any project is a standard non-Shariah project then there would be no need to take extra precaution. If a project is based around Shariah then extra precautions must be taken.

Please note, the question is specifically about ICO and pre-ICO stage investment when there is no live business or working product (it is not about anybody using services a live exchange provides). I have read what Maxat Salypn wrote in a generic sense but I need to ask for a specific reply: https://bitcointalk.org/index.php?topic=4720775.msg46790691#msg46790691

Q9: Please explain fully why you lied and said I took money from you and said that that I worked for you and was fired by you.




I have many questions but have narrowed them down and limited them just to the above.

I understand and appreciate some of the questions will take time to answer because you will put them forward to the relevant parties and must wait for their replies. Thank you.

I appreciate the false accusations of theft made against me were not from the Team members. It was made by you and an alias (and I am waiting for an explanation why you did it as per Q9). Having said that if Adab Solutions are following Shariah and the answers satisfy, I will gladly remove any posts they ask me to.

Furthermore I will gladly put a pro-Adab Solutions signature until their ICO is over. I do not participate in bounties and airdrops so will do it for free providing I receive specific non-generic answers to my questions with Q8 being the most important one.

Q1, Q3 & Q9 are specific to you so please reply within 24hrs otherwise post here stating your position. Thank you

Thank you for changing the tone of communication.
Give me 1-2 days. I will answer your questions here and notify you by the PM that the answers is ready.

Q1, Q3 & Q9 are specific to you so please reply within 24hrs otherwise post here stating your position. Thank you

ok. Will answer ASAP

looking forward for hearing answers as well! I want everything to be as much transparent as possible. And it will be a positive step if you satisfy him with answers

[Freddy63]

Now is a very difficult time to launch new crypto projects. Almost all projects collect negligible amounts, since crypto investors are depressed.

Therefore, they need to be sure that their exchange will be popular in the future. Otherwise, the ICO-campaign will give nothing.

Of course, every project needs good marketing, especially crypto exchanges. Of course ADAB knows what they do.

This project is engaged in advertising, but it’s not clear why the team hasn’t yet solved the problem with these scammers in discussion.

Like any other project, adab should direct its advertising to the target audience in order to have even better results in the future than they are now

I also want them to elaborate on advertisement towards muslims in order to attract users for exchange.
There should be a marketing strategy to achieve goals

[JollyGood]

@ whitetoo



Q1: You refer to Adab Solutions as "we". You wrote earlier "We are developing a beta version and submit it in January. Just wait and see everything. It will certainly differ significantly from the MVP." What is your position and what is your work within Adab Solutions? You answered several posts highlighting Shariah so are you Muslim? Do you follow Shariah?

Q2: The 3 Team members that the owners from Kazakhstan - what is their full religious denomination? If Sunni which branch? If Shia' which branch? If anything else, which branch?

Q3: The multiple aliases flooding this thread - who is the owner and what gain is in it for the flooders?

Q4: Why did the Team decide to register in Umm Al Quwain rather than Dubai or Abu Dhabi? Why choose UAE over their native Kazakhstan or Uzbekistan?

Q5: Will any/all investors that participate in the ICO have to send ID for KYC/AML? If so, why?

Q6: KYC is a sensitive issue for many. If the exchange is active and users sign-up and send KYC ID then which precautions are taken to ensure the ID will not be misused?

Q7: Both Md Mofassair Hossain and Kazi Sohel Alom have been removed from the whitepaper and the Team section of the website. What were real full reasons for their removal?

Q8: At present there is no exchange, the business is just a company on paper. Adab Solutions are seeking investment. At the ICO and pre-ICO stage they are unable to fully vet investors therefore they might be getting people sending in funds from illicit, illegal and immoral sources such as prostitution.

If KYC is being done at ICO an pre-ICO stage then why not ask specifically for an annual tax return and letter of employment with salaries stated? Add to that the checking of all available information about the investor such as FB, Twitter, Insta etc to check to see if they are being honest. This might make investment slightly harder by putting investors off but it will filter out those people that should never invest in a Shariah project.

If any project is a standard non-Shariah project then there would be no need to take extra precaution. If a project is based around Shariah then extra precautions must be taken.

Please note, the question is specifically about ICO and pre-ICO stage investment when there is no live business or working product (it is not about anybody using services a live exchange provides). I have read what Maxat Salypn wrote in a generic sense but I need to ask for a specific reply: https://bitcointalk.org/index.php?topic=4720775.msg46790691#msg46790691

Q9: Please explain fully why you lied and said I took money from you and said that that I worked for you and was fired by you.




I have many questions but have narrowed them down and limited them just to the above.

I understand and appreciate some of the questions will take time to answer because you will put them forward to the relevant parties and must wait for their replies. Thank you.

I appreciate the false accusations of theft made against me were not from the Team members. It was made by you and an alias (and I am waiting for an explanation why you did it as per Q9). Having said that if Adab Solutions are following Shariah and the answers satisfy, I will gladly remove any posts they ask me to.

Furthermore I will gladly put a pro-Adab Solutions signature until their ICO is over. I do not participate in bounties and airdrops so will do it for free providing I receive specific non-generic answers to my questions with Q8 being the most important one.

Q1, Q3 & Q9 are specific to you so please reply within 24hrs otherwise post here stating your position. Thank you

Thank you for changing the tone of communication.
Give me 1-2 days. I will answer your questions here and notify you by the PM that the answers is ready.

Q1, Q3 & Q9 are specific to you so please reply within 24hrs otherwise post here stating your position. Thank you

ok. Will answer ASAP

Thank you too for changing the tone of your communication.

Please do not send a PM with answers, I would like the information you send to be in the public domain because there should be nothing secret about it.

I appreciate the reply from you. Thank you.

[1ceStorm]

Hey, how about updating supportes with recent news? personally I rarely use something besides bitcointalk to find information about news, announcements

It seems to me that the most comfortable way to watch the news of the project will be through Twitter.

[^BuTcH^]

Hah, great to see promises of answer for those multiple questions. Will be watching on this thread to get responses.
I think better to be back in 24 hours as it was promised by somebody from adab.

[veekky]

hey, i've just found this thread. I like idea, but I am not sure if there is a demand for such platform. have you made analysis of market and talked with interested persons?
Where will you get customer's base?

[Sevreki]

Hah, great to see promises of answer for those multiple questions. Will be watching on this thread to get responses.
I think better to be back in 24 hours as it was promised by somebody from adab.

They will definitely give us answers, just the guys do not have time, because there are a lot of us on the forum, and there is still a small conmad

[annazaitun87]

This project is an amazing idea, it is not easy to incorporate the sharia concept into cryptocurrency trading, hopefully what the ADAB dspat team wants is realized

[Sevreki]

This project is an amazing idea, it is not easy to incorporate the sharia concept into cryptocurrency trading, hopefully what the ADAB dspat team wants is realized

In general, this project in the future should also be useful for ordinary users, so that not only for the Muslim people, to expand its target audience

[Urakeavan]

Hey, how about updating supportes with recent news? personally I rarely use something besides bitcointalk to find information about news, announcements

It seems to me that the most comfortable way to watch the news of the project will be through Twitter.

Through Twitter, yes, but there are now very strict rules, they stopped loving ICO projects and when people take part in the bounty