[ANN] IDF Interest Free Defi Money

[IDF.Finance]

ANNOUNCEMENT

Islamic Digital Finance ( IDF )

is a basket/pool of
Stock/Shares, Commodities and cryptocurrencies
Managed by the Experienced Fund managers.

Islamic Digital Finance Stable Dirham (IDF-SD)

The stablecoin backed by the United Arab Emirates
Dirham will be available from 01 December,2020 using
app.islamicdigital.finance.

Islamic Digital Finance Exchange

An Advanced cryptocurrency exchange where you can trade
not only IDF Products but also widely accepted
cryptocurrencies like Bitcoin, Ethereum, Monero and can also
convert it into fiat.


Total Supply of IDF is 2400000 out of which
1500000 can be bought or sold through IDF Swap
App at app.islamicdigital.finance. Remaining IDF
will be used to list on centralized cryptocurrency
exchanges like binance.com and desentralized
cryptocurrency exchanges like Uniswap.

(a) IDF are purchased at the Offer Price and can be
redeemed at the Same Price at any time from
app.islamicdigital.finance.


(b) IDF are issued immediately using IDF Swap at
app.islamicdigital.finance.

(c) During the distribution of profit period on 1st and
2nd of every month the IDF Swap will be closed, the
18 ISLAMIC DIGITAL FINANCE Whitepaper 1.1
sale, redemption and conversion of IDF will be
suspended.

(d) The price of IDF and its redemption will remain
same at app.islamicdigital.finance for complete 1
month. Any outside exchange centralized like
binanse.com or decentralized like Uniswap.exchange
will not effect the rate of purchase and redemption at
app.islamicdigital.finance.

(f) If any IDF holders wants to convert his/her IDF
into FIAT the investor will need to go through the
KYC process established by the company.

(g) IDF Swap Contract is made in a way that the
Liquidity for redemption for IDF will always be
available in it. The company cannot withdraw
Ethereum from IDF Swap smart contract. Only the
investors can buy and sale his IDF through IDF
Swap Smart contract.

Procedure for Purchase of IDF
The simplest method is to use our IDF Swap App at
app.islamicdigital.finance. We recommend to use
Metamask.io with your computer for this purpose.
Investors can also buy IDF from Centralized and
decentralized exchanges.

Procedure for Redemption of IDF
The simplest method is to use our IDF Swap App at
app.islamicdigital.finance. We recommend to use
Metamask.io with your computer for this purpose.


Investors can also Redeemed IDF from Centralized
and decentralized exchanges. But it will/can include
a heavy exchange fee on both centralized and
specially on a decentralized exchange where you
first need to approve the sell then you will need to
pay a very high exchange, liquidity providers, and
GAS fee to complete a transaction.

https://islamicdigital.finance
https://app.islamicdigital.finance

[domni]

What will be the Investment Project you have mentioned in your Roadmap?

[gob7i9ne]

I read that your project will be based on specific types of contracts. Can you tell more about this types and what makes them so special?

[holydarkness]

Islamic Digital Finance is based on core concepts of balance, which help ensure that the motives and objectives driving the finance industry are beneficial to society. in an interest based transaction, the owner of the wealth gets return without making any effort, and the borrower carries all the risk.

Wrong. Lenders poses a risk of default. The interest that borrower paid is a compensation to this risk.

Benefits:

1: The ERC-20 tokens which anybody is holding and not borrowing, lending, Staking, Farming or not putting in other kind of interest based system and just holding in his/hers wallet will generate income.

~snip~

How it will work:

Anybody holds 100 USD worth of any ERC-20 Token including Ethereum and 100 USD worth of IDF for 1 complete week from UTC 00:01 Monday to UTC 23:59 Saturday will receive 2 IDF in his/hers ETH wallet.

Price data of ERC-20 Tokens for the purpose of distribution of IDF will be  taken from coimarketcap.com and coingecko.com on Sunday every week.

How is this different from staking?

Initial price of 1 IDF will be 5 USD until it listed on coinmaketcap.com or coingecko.com. after listing IDF price data will also be collected from coin marketcap.com and coingecko.com.

2 IDF will be distributed every week to every wallet who holds the 100 USD worth of IDF and any ERC-20 no matter how high price will reach. As an example if ever 1 IDF reached to 10000 USD the holder of 0.01 IDF = 100 USD and 100 USD any ERC-20 will be eligible for the same distribution   amount which is 2 IDF per week.

If anybody holds 10000 USD worth of any ERC-20 and 10000 USD  worth of IDF will get 200 IDF in their ETH wallets.

Let me get this straight, assuming that IDF price reached $10,000 one day, anybody owned 0.01IDF, which an equal to $100, will receive $20,000?

Also, for your point of buyback, where does the profit to perform buyback generated from? As far as I get, you didn't offer any products or services or anything that can generate team any spare fund to perform buyback, so with what will you pay the buyback?

[IDF.Finance]

Thank You for Your interest In our Project: domni , gob7i9ne

What will be the Investment Project you have mentioned in your Roadmap?

Although IDF is Totally a Different project and will not bound legally to any other project. but we needed to create a mechanism so when the 100 % of IDF will be in the hands of public and Company's account holds 0 IDF at that point distribution of IDF will stop. So we will launch a Product on 1st of January 2021 the amount we raised through the selling of IDF will be invested In the Stock market spot Trading and the dividends we will receive will be distributed to IDF holders.

I read that your project will be based on specific types of contracts. Can you tell more about this types and what makes them so special?

Specific Types of contracts means that the  projects offered by the Company won't involve any interest based income and holders of IDF will get more returns than they may get through staking or farming this make IDF Special.

[IDF.Finance]

Thank You for Your interest In our Project: holydarkness

In case of default there are laws that lenders can invoke. Banks Sieze Hundreds of properties on daily basis just because borrower has'nt able to pay back.

How is this different from staking?

In staking You stake your coins to other platforms or running a node. You can Hold IDF even on hardware wallet and will be eligible for distribution.

Let me get this straight, assuming that IDF price reached $10,000 one day, anybody owned 0.01IDF, which an equal to $100, will receive $20,000?

Yes that is 100 % Correct.

Also, for your point of buyback, where does the profit to perform buyback generated from? As far as I get, you didn't offer any products or services or anything that can generate team any spare fund to perform buyback, so with what will you pay the buyback?

Selling of IDF itself Generate Enough For the Company to buy back and Company will offer products in the near future. We have a Professional Team to Manage finance of our Company 2 of our members are phd in Finance we know what we are doing.

[IDF.Finance]

Thank You for Your interest In our Project: maria_nna

It is a little strange for me that company will buy back IDF at the market rate available on coinmarketcap and coingecko on 1st of every month. Don't understand why they will do it

Please read the Benefits Above.

[sukoyomi]

Initial price is 5 USD and that was until got listed on CMC, oh you love to smell money huh I wonder how you'll maintain the price after the sale end, you can't control people in the exchange.
I see 90% from supply will be distributed to the public, what kind of distribution? how much for sale?

[IDF.Finance]

Thank You for Your interest In our Project: sukoyomi

Initial price is 5 USD and that was until got listed on CMC, oh you love to smell money huh I wonder how you'll maintain the price after the sale end, you can't control people in the exchange.
I see 90% from supply will be distributed to the public, what kind of distribution? how much for sale?

We won't maintain the price it will be maintained by the public.  If you can read above the total supply of IDF is 2400000 and maximum 24000 will be minted every week after sending 2 IDF to every holder of 100 USD worth of IDF remaining IDF will be on sale that week.

You may ask again if anything about our Finance you still didn't understand.

Regards

[holydarkness]

Thank You for Your interest In our Project: holydarkness

In case of default there are laws that lenders can invoke. Banks Sieze Hundreds of properties on daily basis just because borrower has'nt able to pay back.

How is this different from staking?

In staking You stake your coins to other platforms or running a node. You can Hold IDF even on hardware wallet and will be eligible for distribution.

Let me get this straight, assuming that IDF price reached $10,000 one day, anybody owned 0.01IDF, which an equal to $100, will receive $20,000?

Yes that is 100 % Correct.

Also, for your point of buyback, where does the profit to perform buyback generated from? As far as I get, you didn't offer any products or services or anything that can generate team any spare fund to perform buyback, so with what will you pay the buyback?

Selling of IDF itself Generate Enough For the Company to buy back and Company will offer products in the near future. We have a Professional Team to Manage finance of our Company 2 of our members are phd in Finance we know what we are doing.

(Doing a favor to help whoever read your jumbled reply so they can understand better. Bolded texts is my post they quoted)

In regards to lenders, borrowers, and default, yes, lenders can take a lawsuit which would initiate law enforcement to seize the collaterals (if priorly agreed, otherwise, not). But these collateral will need time to be liquidated, not to mention bills occured to file the lawsuit. Bottomline: a risk. And above all, filing lawsuit and seizing collateral is definitely an effort. Thus, your claim that "owner of wealth" gets return without any effort is a true misconception. Either they poses a risk of loss by default, or taking a huge effort of lawsuit to cover the amount lent on collateral.

About stake, either your understanding of coin staking needs to be updated or my understanding is wrong all this time. But it seems Binance is agree with me, that you can just hold a token in your wallet and still considered as staking. So, what's the difference between your project and the old-school staking?


source

And for buyback, this is kinda interesting that you said buyback program is funded by the money earned from token selling, because buyback mostly became appealing to investor because it offered to buy at a higher price than ICO. When you mix this with a promise that they "will have peace of mind with their investment" because you will buyback at market rate on coingecko, two possible situation occurs:

1. Price goes lower than ICO. This is a cutloss for them, they have to sell at a lower price, they suffered loss. How is this a peace of mind?
2. Price goes higher than ICO. With what exactly do you plan to perform buyback if you spent more amount of money to buy them than the total amount you earned?

This still followed by another situation from the mixture of your staking reward, price on coingecko, etc. but adding them now will create a huge ball of mess, so I'll keep them for now and wait fpr your reply.

And oh! So glad to hear you're accompanied by two PhD in finance, do we have names here? Let me guess, they prefer to be anonymous because they don't want this project to interfere their personal life, because they're still in contract with companies that didn't agree with crypto.

[IDF.Finance]

Thank You for Your interest In our Project: holydarkness

In regards to lenders, borrowers, and default, yes, lenders can take a lawsuit which would initiate law enforcement to seize the collaterals (if priorly agreed, otherwise, not). But these collateral will need time to be liquidated, not to mention bills occured to file the lawsuit. Bottomline: a risk. And above all, filing lawsuit and seizing collateral is definitely an effort. Thus, your claim that "owner of wealth" gets return without any effort is a true misconception. Either they poses a risk of loss by default, or taking a huge effort of lawsuit to cover the amount lent on collateral.

This is why we made IDF to discourage the interest based investments which includes lending, borrowing, staking and farming and it is clearly mentioned in the very first paragraph of About section above.

About Staking this exactly what we told you in our last reply to you that staking means that you are holding your coins in a third party wallet or you are running a node in case of IDF you can hold it in hardware wallet and still be able to receive distribution amount.


1. Price goes lower than ICO. This is a cutloss for them, they have to sell at a lower price, they suffered loss. How is this a peace of mind?

Can you please explain ho is that possible?

2. Price goes higher than ICO. With what exactly do you plan to perform buyback if you spent more amount of money to buy them than the total amount you earned?

Please read the Tokenomics Again. only 24000 IDF will be minted weekly. and company will buyback 200 ETH worth of IDF on every month. lets suppose if price of 1 IDF reached to 100 ETH and you have only 100 USD worth of IDF will you sell it to US or keep it in your wallet so you can receive 2 IDF on weekly?


in the end we would like to know how much and from where you studied so we will appoint a right person to answer your queries.

Regards

[necromastery]

I'm actually a little uncomfortable bringing the name of a religion to the project, but people are free to make their own creation. Where can I see the project whitepaper though? Will there be a plan so that the team information provided in the website?

[IDF.Finance]

Thank You for Your interest In our Project: necromastery

You can take it just as a name for a interest free Financial system. In every country there are banks who are offering Islamic banking. You can read more about it from here >https://en.wikipedia.org/wiki/Islamic_banking_and_finance

Whitepaper and the details of our team members will be released on our website on 1st January 2021 with IDF Investment Project. People will need to go through for KYC also for that particular project.

[holydarkness]

Thank You for Your interest In our Project: holydarkness

In regards to lenders, borrowers, and default, yes, lenders can take a lawsuit which would initiate law enforcement to seize the collaterals (if priorly agreed, otherwise, not). But these collateral will need time to be liquidated, not to mention bills occured to file the lawsuit. Bottomline: a risk. And above all, filing lawsuit and seizing collateral is definitely an effort. Thus, your claim that "owner of wealth" gets return without any effort is a true misconception. Either they poses a risk of loss by default, or taking a huge effort of lawsuit to cover the amount lent on collateral.

This is why we made IDF to discourage the interest based investments which includes lending, borrowing, staking and farming and it is clearly mentioned in the very first paragraph of About section above.

You're evading the context. What's being discussed on that sub-coversation was how you bring a misconception that lender didn't face any risk, or doing any efforts, for the reasons I said above.

About Staking this exactly what we told you in our last reply to you that staking means that you are holding your coins in a third party wallet or you are running a node in case of IDF you can hold it in hardware wallet and still be able to receive distribution amount.

Again, evasion. And I see how you conveniently "redact" the question to blur the obvious. What I raised on this topic was clear. I even helped by providing a nice image of definition of staking from binance.

Do you read them? Staking is not limited to having to hold coins in a third party wallet (i.e. the native wallet of the project). People who hold tokens in private wallet are still eligible for staking program provided by some projects. In other word, your project is also a staking project.

I can guess why you try to evade this question by playing dumb, you probably realized what I'll ask next: if your project discourage any staking activity, while the benefit of your token itself is defined as a staking activity, where exactly do you stand on this situation?

As it seems you can't handle too many topic at once, I'll focus on these two questions first until you can give clear answers, and then I'll pick up from what we leave.

To make it easier to understand, here is the summary of my question:
1. What is the basis of your claim that lending activity is without effort and risk, while clearly they poses risk of loan default and have to take effort on seizing collateral on such case? If I may add, on the very least, they still have to do a background check on the borrower. That counts as an effort.
2. What's the difference between your project and a staking program? If there's any, kindly give a breakdown. If there were none (i.e. they're the same) there is a conflict of interest that you offered a program that you strongly oppose.

[IDF.Finance]

1. What is the basis of your claim that lending activity is without effort and risk, while clearly they poses risk of loan default and have to take effort on seizing collateral on such case? If I may add, on the very least, they still have to do a background check on the borrower. That counts as an effort.

As we told you earlier that in case of default lender can invoke the law.. There are terms and condition which already been signed by the lending and borrowing party. For Example if you want to get a loan from bank will they gave it to you without any collateral?
and we want to ask you will you give your money to a beggar if he is promising you to will give your money after 1 year. You may give him as donation but not to get your money back with interest after some time.

2. What's the difference between your project and a staking program? If there's any, kindly give a breakdown. If there were none (i.e. they're the same) there is a conflict of interest that you offered a program that you strongly oppose.

This is what Staking means in Crypto please read carefully.
Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards.

While in case of IDF you dont need to be a Validator or stake your IDF on our website/Platform.

[holydarkness]

1. What is the basis of your claim that lending activity is without effort and risk, while clearly they poses risk of loan default and have to take effort on seizing collateral on such case? If I may add, on the very least, they still have to do a background check on the borrower. That counts as an effort.

As we told you earlier that in case of default lender can invoke the law.. There are terms and condition which already been signed by the lending and borrowing party. For Example if you want to get a loan from bank will they gave it to you without any collateral?
and we want to ask you will you give your money to a beggar if he is promising you to will give your money after 1 year. You may give him as donation but not to get your money back with interest after some time.

And filing a lawsuit for case of default, whereas, the case of default itself can be considered as a risk faced by the lender, is not an effort? Here is a nice definition of effort by Cambridge dictionary.

At this point, I would suggest you to just admit you made a poor wordings for your proposal introduction as there still lots of pressing matters to be discussed.

2. What's the difference between your project and a staking program? If there's any, kindly give a breakdown. If there were none (i.e. they're the same) there is a conflict of interest that you offered a program that you strongly oppose.

This is what Staking means in Crypto please read carefully.
Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards.

While in case of IDF you dont need to be a Validator or stake your IDF on our website/Platform.

Read definition of cold staking. Here's a yet another nice one from Binance as well as from Stratis

There are several projects that "reward" their holder for simply holding their tokens in MEW, not necessarily on their native platform. Alongside with these project, there are several exchanges and wallets that offers same benefit; namely members only have to hold token on their wallet. Ironically, it seems that the definition that you offered to us was taken from Coinbase; which also offers same service. In fact, right below the text you quoted, they explain their cold staking procedure.

So, I'll ask again, what's the difference between your project and a staking program?

[IDF.Finance]

And filing a lawsuit for case of default, whereas, the case of default itself can be considered as a risk faced by the lender, is not an effort? Here is a nice definition of effort by Cambridge dictionary.

At this point, I would suggest you to just admit you made a poor wordings for your proposal introduction as there still lots of pressing matters to be discussed.

I think you finally understood it and now it is just your ego which is trying hard to push it forward.



Read definition of cold staking. Here's a yet another nice one from Binance as well as from Stratis

There are several projects that "reward" their holder for simply holding their tokens in MEW, not necessarily on their native platform. Alongside with these project, there are several exchanges and wallets that offers same benefit; namely members only have to hold token on their wallet. Ironically, it seems that the definition that you offered to us was taken from Coinbase; which also offers same service. In fact, right below the text you quoted, they explain their cold staking procedure.

There are several projects that "reward" their holder for simply holding their tokens in MEW.


Name 1 Project please

[holydarkness]

And filing a lawsuit for case of default, whereas, the case of default itself can be considered as a risk faced by the lender, is not an effort? Here is a nice definition of effort by Cambridge dictionary.

At this point, I would suggest you to just admit you made a poor wordings for your proposal introduction as there still lots of pressing matters to be discussed.

I think you finally understood it and now it is just your ego which is trying hard to push it forward.



Read definition of cold staking. Here's a yet another nice one from Binance as well as from Stratis

There are several projects that "reward" their holder for simply holding their tokens in MEW, not necessarily on their native platform. Alongside with these project, there are several exchanges and wallets that offers same benefit; namely members only have to hold token on their wallet. Ironically, it seems that the definition that you offered to us was taken from Coinbase; which also offers same service. In fact, right below the text you quoted, they explain their cold staking procedure.

There are several projects that "reward" their holder for simply holding their tokens in MEW.


Name 1 Project please

Well no, that was me being kind by giving you a chance to gracefully and professionally admit you made error in composing your proposal. It was much better than what will come next. But it seems you prefer to proceed by attacking personally. I'm bored playjng words with you, so let's proceed straightforward with the issue:

I am sure you understand what I tried to point out, which mistake you made, and how could it be a mistake. Whoever follows and read this thread can. If you still can't, then it speaks a lot about your project. People need to take note on this.

It was a small issue, really, but it became rather crucial because that was an opening to the main issue: staking. Right next to it, you state that you discourage staking, where your project itself is a staking activity. I'll give you another chance, with all the facts that I've pointed out, explain how does your project different than a staking program?

The obvious answer will be: no, there is no difference. Because your project itself is a staking program. It either shows how you contradict yourself or says that you have little to no effort to do a research for the field you're trying to offer. And how could someone offered a business with barely any knowledge about it? Well, that's obviously because they didn't take it seriously because they know it won't last long enough to worth their time, in other word, they know it'll only last for a short period of time. i.e. scam is on the horizon.

Name 1 project? Really? Easy: Moozicore.

Now, as I already said the big word, it's time to add another topic for you to answer: team. You want to prove that you're not a scam project? Show me your team details. Taking up from where we left them, you conveniently missed how I asked you to reveal these "two PhD in finance."

[IDF.Finance]

Well no, that was me being kind by giving you a chance to gracefully and professionally admit you made error in composing your proposal. It was much better than what will come next. But it seems you prefer to proceed by attacking personally. I'm bored playjng words with you, so let's proceed straightforward with the issue:

I am sure you understand what I tried to point out, which mistake you made, and how could it be a mistake. Whoever follows and read this thread can. If you still can't, then it speaks a lot about your project. People need to take note on this.

It was a small issue, really, but it became rather crucial because that was an opening to the main issue: staking. Right next to it, you state that you discourage staking, where your project itself is a staking activity. I'll give you another chance, with all the facts that I've pointed out, explain how does your project different than a staking program?

The obvious answer will be: no, there is no difference. Because your project itself is a staking program. It either shows how you contradict yourself or says that you have little to no effort to do a research for the field you're trying to offer. And how could someone offered a business with barely any knowledge about it? Well, that's obviously because they didn't take it seriously because they know it won't last long enough to worth their time, in other word, they know it'll only last for a short period of time. i.e. scam is on the horizon.

Name 1 project? Really? Easy: Moozicore.

Now, as I already said the big word, it's time to add another topic for you to answer: team. You want to prove that you're not a scam project? Show me your team details. Taking up from where we left them, you conveniently missed how I asked you to reveal these "two PhD in finance."

You did not provide anything. You are just talking like a non serious person. and we are thinking now to deal with people like you we should hire a primary teacher.
and about "moozicore" we did not found anything like our project on this site https://tokensale.moozicore.com/  You are just promoting some of yours **** which we dont allow again.
If you again try to promote anything of yours in this thread we will report to the moderators.

[holydarkness]

Well no, that was me being kind by giving you a chance to gracefully and professionally admit you made error in composing your proposal. It was much better than what will come next. But it seems you prefer to proceed by attacking personally. I'm bored playjng words with you, so let's proceed straightforward with the issue:

I am sure you understand what I tried to point out, which mistake you made, and how could it be a mistake. Whoever follows and read this thread can. If you still can't, then it speaks a lot about your project. People need to take note on this.

It was a small issue, really, but it became rather crucial because that was an opening to the main issue: staking. Right next to it, you state that you discourage staking, where your project itself is a staking activity. I'll give you another chance, with all the facts that I've pointed out, explain how does your project different than a staking program?

The obvious answer will be: no, there is no difference. Because your project itself is a staking program. It either shows how you contradict yourself or says that you have little to no effort to do a research for the field you're trying to offer. And how could someone offered a business with barely any knowledge about it? Well, that's obviously because they didn't take it seriously because they know it won't last long enough to worth their time, in other word, they know it'll only last for a short period of time. i.e. scam is on the horizon.

Name 1 project? Really? Easy: Moozicore.

Now, as I already said the big word, it's time to add another topic for you to answer: team. You want to prove that you're not a scam project? Show me your team details. Taking up from where we left them, you conveniently missed how I asked you to reveal these "two PhD in finance."

You did not provide anything. You are just talking like a non serious person. and we are thinking now to deal with people like you we should hire a primary teacher.

I failed to see how what I provide is relevant to the topic we currently discussing, but if I have to answer that, I provide links and references that is necessary to support my arguments, pointing out things according to facts. Again, people can easily see this. And again, if you failed to see this, it speaks volume of the quality of the project or, at the very least, the quality of the team or whoever mandated to answer on this thread. Also, how can I be seen as someone not serious? Dude, I spent time doing research, giving links and screenshoting pages. If that is not a seriousness, people need to update their definition of serious.

And, in regards to primary teacher, sure, if your team sees it fit to hire a primary school teacher as your community manager, who am I to argue? You are allowed to hire anyone you sees fit, as long as they're capable to answer queries here.

Speaking of which... none of my query is answered. You're not trying to evade again, are you? My questions are easy: I wanted to know how you see your project is different than a staking program, which you strongly oppose and your team details. You previously mentioned that there are two PhD in finance on your team, we can start with them.

and about "moozicore" we did not found anything like our project on this site https://tokensale.moozicore.com/  You are just promoting some of yours **** which we dont allow again.
If you again try to promote anything of yours in this thread we will report to the moderators.

LOL. Wait, what? You asked me to give one example, and that's exactly what I do. And then you said I promote their project? Because I merely provide you with you what you asked? You're ok, dear? The project cleared their ICO years ago, how could I even promote such project?

And oh,  this is what comes out if you simply google "moozicore staking". I wonder how could you failed on such an easy task.