The launch of the TijarX Gold Rush competition by MRHB.Network has seen over 100,0000 tokenized gold transactions. More people realize that they can invest and save money in gold, which is widely considered an inflation-proof investment.
Despite the crypto bear market, the TijarX Gold Rush has attracted over 420 participants across many countries. This is the result of successfully reaching communities in different languages, such as English, Arabic, Persian, and Russian, who may see gold as a good hedge against the bear market or are just starting to invest in gold.
What is the TijarX Gold Rush
The TijarX Gold Rush is a two-week-long competition encouraging the MRHB community and beyond to invest in gold. The tokenized gold on TijarX is 100% backed by fully allocated gold bullion secured by the Gold & Silver Standard of Ainslie Bullion Group, Australia’s leading bullion dealer since 1974.
Winners will be rewarded from a pool of USD 10,000 worth of tokenized gold, with the grand prize winner being awarded USD 5,000 and the second and third-placed winners winning USD 3,000 and USD 1,000, respectively, in tokenized gold. Ten lucky draw winners will receive USD 100 in tokenized gold each. This competition ends on 31 January 2023. As the competition ranks winners according to net buys, not trading volume, even latecomers to the contest stand as good a chance as early entrants to bag 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 gold prices have been stable throughout the years compared to fiat.
The TijarX Gold Rush is also a way to easily guide beginners into investing in gold. 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 and 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.
TijarX offers tokenized gold and silver 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 aims to provide inclusive and ethical access to interest-free halal DeFi opportunities in Web3 via safe and simple platforms. 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 safely bring everyone, especially faith-based communities, into DeFi.
MRHB DeFi Network Official Channels
Telegram Announcements: https://t.me/marhabadefi_ANN
Telegram (Arabic): https://t.me/mdf_arabic
Telegram (Russian): https://t.me/marhabadefi_russia
Telegram (Turkish): https://t.me/MarhabaDefiTR
Telegram (Persian): https://t.me/mrhbdefi_persian
Telegram (Urdu/Hindi): https://t.me/MRHBDeFi_Urdu_Hindi