ADAB Solutions ICO — First Islamic Crypto Exchange

7 min readNov 16, 2018

Hello friends, welcome everyone to my blog! Today I will talk about a very usual and interesting ICO project. We will discuss how ADAB is introducing blockchain technology and smart contracts and will also discuss the details of ICO in details.

Let’s Discussion about ADAB

What is the First Islamic Crypto Exchange?

FICE — the first cryptocurrency exchange corresponding to the norms of Shariah. Many cryptocurrencies, due to their characteristics, are haram. Today no one can guarantee that the coins and projects listed on conventional cryptocurrency exchanges comply with norms of Islam.

What is ADAB ?

In older to ADAB Solution as a crypto Currency project to be Halal, It is planned to implement the implement the following measures:

The development of the project will be based on the entrepreneurial efforts of the organizers and thier work. Accoding to the norms of of Islamic ethics, it is right that the source of wealth is own labor inputs and the entrepreneurial efforts.

First Islamic Crypto Exchange will completely exclude the possibility of speculative transactions, margin trading and operations that do not correspond to Shariah. This will exclude the Gharar and Maisir and Riba from the work of the Exchange.

FICE platform able to handle 3 million requests per second, making FICE the one of the fastest crypto exchanges. Users of FICE will be guaranteed that their applications will never be suspended due to congestion of the platform.

ADAB Solutions is founded to create a platform for halal projects, to work in a full compliance with the norms of Islam and Islamic finance. Our task is to help Muslims and the community of crypto-investors to understand what in the market the cryptocurrencies is compliant with the Shariah rules and what does not.

ADAB Solutions proceeds from the fact that this project will generally benefit the market, since halal projects in their essence have utility and value, and their definition will contribute to the development of useful ideas and a decrease in the number of projects in the market, which are haram in its essence.

Halal or not halal

The speculative nature of cryptocurrency has sparked debate among Islamic scholars about whether cryptocurrency is permitted religiously. The Cryptocurrency company seeks to influence the debate by launching instruments based on physical assets and certified as valid by Islamic advisers.
Each OneGram cryptocurrency unit is supported by at least one gram of physical gold stored in a vault. The idea is to limit speculation.

"Gold is one of the first forms of money in Islamic society, so this is right," said Ibrahim Mohammed, a British citizen who founded the company with other investors last year.
"We try to prove the rules and regulations of sharia are fully compatible with digital blockchain technology."
Tens of millions of dollars of currency have been issued so far. About 60 percent of the planned coins must still be sold; One Gram hopes to publish it all before posting it on the stock around the end of May.
One Gram has the decision that its cryptocurrency is in accordance with Islamic principles from Dubai-based Al Maali Consulting.
This is one of dozens of advisory companies around the world offering their opinions on whether financial instruments meet Islamic legal standards.

The uniqueness of ADAB Solutions

The first exchange compliant with the norms of Islam

Today, there is no one cryptocurrency exchange, that would guarantee the activity based on the principals of Shariah. Adab Solutions will be the first project that will allow cryptocurrency transactions in accordance with the principles of Islamic finance and on the basis of Shariah norms

The Shariah Advisory Board, acting on an ongoing basis, will conduct in depth and systematic study of the cryptocurrency market and its elements for compliance with Shariah law.

Intended for a huge audience

Islamic Ummah covers more than 120 countries in Europe, Western, Central, South and South-East Asia and North Africa. In 35 of these Muslims are in the majority of the population. In 28 countries, including Egypt, Saudi Arabia, Morocco, Kuwait, Iran, Pakistan and others, Islam is a state religion.

Forming a new market system

The project applies to crypto-economy values based on the norms of the Shariah and the principles of Islamic finance. These values will become the basis for self-regulation of the crypto market and will increase the level of confidence in key cryptocurrency instruments.

Project design and safety

The project is built on the highest security standards and unique technical software solutions in conjunction with safe and reliable jurisdictions.

We solve the problems of the Muslim community, such as:

ADAB Solutions will solve the problem of halal cryptocurrency operations
ADAB Solutions will solve the problem of excessive risks of cryptocurrency systems.
ADAB Solutions will solve the problem of developing Islamic cryptocurrency infrastructure.
Absence of a crypto exchange, functioning in accordance with the norms of Shariah.
The lack of a unified position of the Muslim community regarding the cryptocurrency.
Uncertainty of Muslims regarding the admissibility of working with cryptocurrencies.
From the turnover of existing crypto exchanges, zakat is not paid.
The problem of the cryptocurrency market.
The extremely low involvement of Muslims in the cryptocurrency market
Lack of community trust in the key tools of crypto economics.
Lack of a new markets and investors.

Technical Info

The project is developed in compliance with the highest security standards.
FICE platform security will be provided by the best developers in the field of cybersecurity, including the high level of business transparency. Security Development Lifecycle(SDL), and all the field standards will be adopted. FICE will implement the threat modeling, and STRIDE analysis, statistical code analysis(SAST), dynamic program analysis(DAST) and a penetration test.
FICE will adopt standards of data encryption, recommended by the NIST(AES-256,SHA256/SHA3) and will not use proprietary cryptography. All the user data, including the internal traffic will be encrypted.

Features

The importance of the Adab Solutions project for participants and its uniqueness:

The Adab Solutions project has no analogues in the world. Today, there is not a single cryptocurrency platform or a crypto exchange, which would guarantee activities based on Shariah. Adab Solutions will be the first project that will allow performing cryptocurrency transactions in accordance with the principles of Islamic finance and on the basis of Shariah norms.
The Adab Solutions project is aimed to a huge audience of 1.8 billion potential Muslim users of the cryptocurrency market.
Projectibility of the project. The Adab Solutions project is designed in accordance with the highest security standards and has unique technical features of key software solutions.
The Adab Solutions project forms a system of values based on Shariah norms and principles of Islamic finance, which will become the basis for self-regulation of the cryptocurrency market and will increase the level of confidence in a key cryptocurrency instruments.
Full transparency of the Adab Solutions project. Transparency of the project and safe jurisdictions will make it possible to buy and sell cryptocurrencies for fiat money.
Objectives and mission of the project
The ADAB Solutions project is developing the FICE- First Islamic Crypto Exchange , based on the norms of Shariah.
The purpose of the ADAB Solutions project is the creation of a crypto -exchange platform, a stock exchange and services that comply with the norms of the Shariah and operate on the principles of Islam.

TOKEN SALE DETAILS

09.30.2018–11.23.2018

Technical limit for the emission of tokens 480 000 000*

Volume of sale of tokens up to 345 000 000

Soft Cap $ 2 500 000

Hard Cap $ 18 700 000

The amount of charges on closed and preliminary sales 5 610 000 $

Volumes of fees at the crowdsale 13 090 000 $

Price of the token in USD 0.1 $

Acceptable form of payment: ETH, BTC

Start date of closed pre-sale 15.07.2018

Closing date of close pre-sale 05.09.2018

Start date of public pre-sale 06.09.2018

End date of public pre-sale 29.09.2018

Start date of the crowdsale 30.09.2018

End date of the crowdsale 15.11.2018

Date of issue of the token 30.11.2018

Starting a smart contract 30.11.2018

Exchange listing 31.12.2018

The minimum volume of redemption of ADAB tokens 1000 ADAD

Road Map

1. June 2017- September 2017.

Beginning of the study of the cryptocurrency market in the Islamic community.

2. September 2017 — November 2017

Formation of goals and objectives to solve the problem of access of Muslim population
to the cryptocurrency market.

3. December 2017 — May 2018

The development of the philosophy and mechanics of the exchange, based on the principles of
the Islamic financial model.

4. September 2018 — November 2018

ICO to finance and promote the Islamic cryptocurrency exchange.

5. July 2018 — September 2018

Development of the program mechanism of the First Islamic Crypto Exchange.

6. October 2018 — December 2018

Registration of the First Islamic Crypto Exchange. Start of work on AdabCrypto (News Portal & Forum) and Adab Charity.

7. December 2018 — February 2019

Alfa release of the First Islamic Crypto Exchange, functionality and security check.

8. December 2018 — December 2019

Launch a large-scale marketing campaign, in order to attract new users on a large scale.

9. April 2019

Beta release of the Islamic Exchange First Islamic Crypto Exchange with the support of cross-platform trading clients.

10. July 2019

Official launch of the First Islamic Crypto Exchange.

11. June 2019 — December 2019

Expansion of the functional content of the First Islamic Crypto Exchange.

12. August 2019

Run Adab Charity.

13. December 2019 — July 2020

Formation, on the bases of ADAB Solutions platform and First Islamic Crypto Exchange, of a reliable and developed infrastructure based on the principles of Islamic finance.