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HAQQ Enhances Shariah-Compliant DeFi with evmOS Upgrade

source-logo  blockchainreporter.net 23 May 2024 18:54, UTC

HAQQ, a Shariah-compliant DeFi network, has recently upgraded to evmOS, which is poised to revolutionize its prospects for developers and users. This partnership utilizes the capabilities of the evmOS tech stack to provide accessible, sustainable, and Shariah-compliant financial solutions.

evmOS 🤝 🤝 🤝 HAQQ Network and Islamic Coin!

We're thrilled to share that @The_HaqqNetwork partners up with Evmos to upgrade to #evmOS! ☄️ ⚡

The vast @Islamic_Coin community can now access the entire @cosmos ecosystem, liquidity, and any #interchain dApps. ✨ pic.twitter.com/xyycYElsc2

— Evmos // evmOS ☄️ (@EvmosOrg) May 23, 2024

evmOS Empowers HAQQ Network with Cross-Chain Compatibility

Evmos is a very simple, easy to use platform for implementing ethereum EVM using our cosmos-sdk and cometBFT consensus mechanism. This is what enables evmOS to become the DeFi industry leader in cross-chain compatibility and development. “For now let’s test with 5000 rows and see if we get are getting the same result. That will be enough to prove that there is a suppressed grouped by going on at one level or another.”

evmOS upgrade provides HAQQ network developers with a new powerhouse that can create complicated smart contracts and dApps, while other previously existing obstacles like scalability, performance or connectivity have been long forgotten. Additonally, network developers are able,to interoperate with Already Live IBC(Inter-Blockchain Communication) protocol immediately and be a part of the larger interoperability picture for immediate execution between Solidity smart contracts on Haqq Network to rest if the interchain ecosystem.

With evmOS’s pre-enabled IBC connections to leading Cosmos SDK chains including Osmosis and Stride, HAQQ developers and users will have access to vast liquidity across multiple DeFi dApps and services.

HAQQ developers reap one of the main boons that evmOS has to offer: its stateful precompiles, known as EVM extensions. These enable dynamic state management and provide access to more advanced DeFi features such as liquid staking, automated vaults or algorithmic trading strategies.

Meanwhile, evmOS’s ‘Single Token Representation’ feature makes managing tokens easier still by bridging the gap between Cosmos and ERC-20 formats, allowing developers to concentrate on innovation with less overhead.

HAQQ and evmOS Team Up for Ethical DeFi Revolution

Islamic Coin, the native asset of the HAQQ network, is designated for interest-free investment activities, halal trading and charitable giving. A marriage of modern fintech with Islamic heritage, this combination lets users keep traditional values while embracing technological advances.

Together, the HAQQ and evmOS collaboration promises to usher in a new age of DeFi innovation that holds inclusivity, efficiency, and ethical principles at its very core. Cooperative efforts will surely bring surprises and suspenseful story as they chart one new course after another for finance in the future.