MRHB DeFi, the worldâ€™s first halal and ethical decentralized finance (DeFi) platform, launched their $MRHB token on the popular PancakeSwap DEX in December 2021. To promote the listing, the company set aside a pool of 5 million MRHB tokens to reward liquidity providers (LPs) with through to the end of March. MRHB has now decided to extend the LP reward period until June 30, and is adding an additional 2 million MRHB tokens to the reward pool.
For anyone unaware of this opportunity, the details are as follows: LPs must supply liquidity to the USDT/MRHB liquidity pool on PancakeSwap to qualify for rewards. A total of 2 million MRHB tokens will be divided between all participating LPs over a three-month period. This reward is provided by MRHB DeFi as a third party offering a conditional gift (â€˜hibah muallaqah bi al-sharthâ€™), which is permissible according to Islamic Fiqh.
By providing liquidity on PancakeSwap, LPâ€™s help to support the MRHB token, whose mission of bringing ethical finance to faith-based communities and others. It has been years of non-regulation and uncertainty about crypto; it is time to carve out a safe space in the cryptoverse where ethics-conscious people can manage their finances with peace of mind.
Additional Information for LPs
Providing liquidity on a DEX is not without risk. All prospective LPs must first understand about a concept known as â€˜impermanent lossâ€™. If you are unfamiliar with the term, please refer to this article to get a firm understanding of the risks involved.
Here are a couple of videos that will be useful for LPs:
– How to Buy/Swap MRHB Tokens Using Metamask Wallet: https://www.youtube.com/watch?v=A-LqaeY9Ttw
– How to Make Passive Income by Providing Liquidity on Pancakeswap: https://www.youtube.com/watch?v=jebBMzes0HY
Alternatively, check out the MRHB blog post for the step-by-step slideshow walkthrough on how to add liquidity on Pancakeswap: https://mrhbdefi.medium.com/how-mrhb-token-holders-can-earn-passive-income-from-trading-fees-and-5-million-pool-of-mrhb-6848152d51c7
Lastly, the importance of staying vigilant on the internet cannot be stressed enough â€” scammers abound. Never give your wallet password out to anyone. When sending funds to a liquidity pool, do so on the exchange itself â€” do not send to addresses given to you by strangers.
MRHB DeFi will never ask you for funds. The only links and information that can be trusted are those shared on their official channels below.
MRHB.Network Official Channels:
MRHB Reward Dashboard: https://rewards.mrhb.network
Telegram Announcements: https://t.me/marhabadefi_ANN
Telegram (Arabic): https://t.me/mdf_arabic
Telegram (Russian): https://t.me/marhabadefi_russia
Telegram (Turkish): https://t.me/MarhabaDefiTR