The launch of the TijarX Gold Rush competition by MRHB.Network has seen over 100,0000 tokenized gold transactions. More people are realizing that they can invest and save money in gold, which is widely considered an inflation-proof investment.
The TijarX Gold Rush Contest has attracted over 420 participants across many countries, 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 out with investing in gold.
What is the TijarX Gold Rush
The TijarX Gold Rush is a two-week-long competition to encourage 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. There will also be 10 lucky draw winners receiving USD 100 in tokenized gold each. This competition ends 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 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.
TijarX can be accessed on Sahal Wallet, which is downloadable on both iOS and Android.
MRHB DeFi Network Official ChannelsWebsite: https://mrhb.network
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