Islamic Coin Launches Public Offering of Tokens – Here’s What You Need to Know
The Islamic coin is a new type of digital token that is launching its public offering of tokens on a decentralized public blockchain. The token itself is based on Islamic law and is designed to be an ethical alternative to traditional digital tokens. The Islamic coin team has partnered with a network of Islamic scholars and want to build a system that is based on Islamic legal principles with the intention of creating a halal (permissible under Islamic law) financial ecosystem. This will include protocols for selling, buying, and trading in accordance with Islamic law.
The public offering began on June 3 and will last for 30 days until July 3. The Islamic coin team is looking to raise $3 million from the offering and have a hard cap set at $15 million. The funds will be used to secure strategic partnerships, marketing, list on exchanges, and go to general operations.
The tokens of the iCoin are ERC-20 tokens, meaning they are built on the Ethereum blockchain. To participate in the public offering, all you need to do is follow the instructions on the Islamic coin website and send your Ether to their wallet address. Every iCoin you purchase is worth $0.11 and there is a minimum purchase of 20 tokens ($2.20). To ensure as many investors can take part in the offering, there is no maximum purchase cap. All ETH will be transferred to a secure cold wallet following the offering and the tokens will be distributed after the offering ends.
When the tokens are listed on exchanges, they will be tradeable against both fiat and other crypto currencies. The listing is scheduled for late July.
If you are looking for a new way to invest in cryptocurrency that follows Islamic law, then the Islamic coin public offering is one to consider. The team is creating a digital token that will be secure and open to people across the world, offering them a halal alternative to other digital tokens.