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MRHB.Network has seen more than 100K transactions in tokenized gold since the launch of their TijarX Gold Rush contest. More people are investing and saving their money in gold, which has long been considered an inflation-proof investment.
The TijarX Gold Rush has attracted over 420 participants across many communities from various countries. MRHB has announced that they are successfully reaching communities in different languages such as English, Arabic and Russian, communities who may see gold as a good hedge against the bear market or are just starting out with investing in gold.
TijarX Gold Rush Offers USD10,000 Prize Pool in Tokenized Gold
The two-week-long TijarX Gold Rush is a net buy contest to encourage the MRHB community and others to invest in gold. The tokenized gold on TijarX is backed one hundred per cent by fully allocated gold bullion which is secured by Gold & Silver Standard of the Ainslie Bullion Group, Australia’s leading bullion dealer since 1974.
The grand prize winner bags USD 5,000 and the 2nd and 3rd place winners win USD 3,000 and USD 1,000 respectively in tokenized gold, from a pool of USD 10,000 with 10 lucky draw winners each receiving USD 100 in tokenized gold. This competition ends on the 31st January, 2023. As the competition ranks winners according to net buys and not in trading volume, even latecomers to the competition stand as good a chance as the early entrants to have a shot at the top prizes.
The more experienced investors would see this as an opportunity to protect their wealth in the bear market. It is widely known that gold is a good hedge against inflation as the price of gold has been stable throughout the years compared to fiat.
The TijarX Gold Rush is also a way to guide beginners into investing in gold easily. The fact that TijarX is a decentralized platform offering tokenized (hence fractional) commodities creates a low barrier to entry where anyone from anywhere can start investing in gold.
TijarX: Decentralized Commodity Exchange (Commodity DEX)
TijarX is part of the MRHB decentralized finance (DeFi) ecosystem that aims to support the more than 1.7 billion faith-based, ethical and unbanked communities. Because the traditional commodity markets often have a high barrier to entry, are complex, expensive or difficult to access, MRHB has created a halal DeFi solution by ensuring that the gold purchases are fractional (tokenized), and transactions are cheaper, borderless and more accessible.
To provide the most accurate, reliable and decentralized gold and silver price feeds, the TijarX interface has integrated Data Feeds from Chainlink, the industry-leading decentralized oracle network.
Currently, TijarX offers tokenized gold and silver that are 100% backed by fully allocated gold and silver bullion respectively. In later updates, TijarX will be able to support more and more different types of asset-backed tokenized commodities.
MRHB Trailblazing Halal DeFi and Halal Crypto
MRHB is on a mission to provide inclusive and ethical access to interest-free halal DeFi opportunities in Web3 via safe and simple platforms. All of MRHB products can be accessed via its flagship product, the Sahal Wallet, which only lists halal crypto and DeFi projects. The MRHB Governance Board determines the permissibility of a crypto project based on halal principles.
As such, the MRHB Ecosystem is set up to support and bring everyone, especially the faith-based communities, safely into DeFi.
