Feroza Finance Launches $2M Pilot Program for Shariah-Compliant DeFi with 'Mudarabah Smart Contract'
Firoza Finance, a joint venture between Liberty Finance and HAQQ Network, announced the launch of a $2 million pilot program that introduces the world's first real-world Mudarabah smart contract. According to the team: "The pilot program will feature three distinct investment pools, collectively with a total value locked (TVL) of over $2 million. The structure is designed to provide Shariah-compliant financing options, addressing a significant gap in decentralized finance. ( DeFi) market where existing platforms often do not cater to users looking for ethical financial products, The Institute of Islamic Banking and Insurance defines mudarabah as a lending technique adopted by Islamic banks – “a contract in which all capital provided by an Islamic bank comes comes when the business is managed by another party."
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Alpen Labs Unveils 'Strata,' Initially ZK Rollup on Bitcoin, Ultimately 'Settlement Layer for ZK Proofs'
Protocol Village Exclusive: Bitcoin-focused developer Alpen Labs has unveiled "Strata," described as "a platform for endgame money on Biltcoin with ZK rollup tech." According to the team: "Strata is being unveiled after two years of R&D by Alpen. In the first phase, Strata will be a ZK rollup on Bitcoin with the most trust-reduced BitVM bridge. Long-term, Strata will be the compromise. Layer ZK Proof so BTC can own the property." A unique opportunity to expand as money.CoinDesk reported in April that Alpen had emerged from stealth with $10.6 million in funding.
Diagram of Strata System Architecture (Strata)
Diagram of Strata System Architecture (Strata)
The Nibiru Foundation launched Nibiru Ventures to support projects in the Nibiru ecosystem
Protocol Village Exclusive: The Nibiru Foundation will launch Nibiru Ventures, a strategic venture arm dedicated to supporting blockchain projects built natively within the Nibiru ecosystem. Through funding and mentorship, Nibiru Ventures will develop the next generation of builders and help bring their app visions to market. Nibiru Ventures focuses on supporting consumer-facing applications that naturally drive meaningful excitement and engagement. According to the group's message: "The team looks to minimize the upfront risks associated with new chain integrations while ensuring alignment with Nibiru and without enforcing chain exclusivity."
Schematic showing the architecture of Nibiru from the project documentation (Nibiru).
Schematic showing the architecture of Nibiru from the project documentation (Nibiru).
Signum claims to be the first bank to support web3 wallet recovery
Sygnum has become the first bank to support Web3 wallet recovery, enabling users to access their coins even if they lose their signing keys, according to the team: "Thanks to its partnership with Safe, the world's largest multisig wallet provider with over $100 billion in assets, Signum has now deployed 'Recovery', which allows users to recover Signum Web3 if they lose access to the wallet, and is a major step forward in regulated banking with crypto custody."
SkyX, a Project for Decentralized Weather Data Collection, Opts for Deepin-Focused Peak Blockchain
SkyX, a project to decentralize weather data storage, has announced that it is building on Peak, a layer-1 blockchain optimized for DePIN and machine RWAs. According to the team: “SkyX is building a deep pin of community-owned weather stations that collect live data from around the world to power a versatile and highly granular meteorological dataset. Its platform has a powerful AI component that will leverage the collected data. "One can buy a weather station, set it up in the backyard or on a rooftop, and be rewarded in $SKY tokens for the data that thousands of stations around the world collect to predict processes and trends."
SkyX Network Model, Project Documentation (SkyX)
SkyX Network Model, Project Documentation (SkyX)
EnergyWeb announces beta launch of 'AutoGreenCharge' mobile app for EV charging
EnergyWeb, an independent nonprofit developing open-source Web3 software solutions connected to clean and distributed energy resources, announced the beta launch of AutoGreenCharge, a mobile application enabling electric vehicle (EV) owners to charge with renewable energy. According to the team: “The app works with popu
Feroza Finance Launches $2M Pilot Program for Shariah-Compliant DeFi with 'Mudarabah Smart Contract'
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