Sukhavati Network x MarhabaDeFi AMA
Sukhavati Network has teamed up with MarhabaDeFi to announce their recent partnership! The AMA provides Marhaba’s CEO the opportunity to introduce their project, hint at what the collaboration entails, and both CEOs were present to answer the community’s burning questions! Wanted to join but missed the opportunity? Tune in below for a full recap of the AMA!
Date: August 27, 2021
Time: 13:00 PM UTC
Venue: Telegram @Sukhavati Network
Guests: Sukhavati Network CEO Mindaugas Savickas, Marhaba CEO Naquib Mohammed
Part 1: General Discussion
James:
The chat is now muted for the AMA! It will be unmuted once the telegram live question session is ongoing. Stay tuned!
Let’s welcome our guest, Naquib Mohammed, the Founder of Marhaba DeFi. Also our CEO Mindaugas
Mindaugas:
Hey everyone! Excited to have everyone here in this group, especially @odiatokkanaquib !
Naquib:
Thank you for having me here James Good to see you all here! A pleasure to share the panel with @mindaugas87
James:
We are all so excited to know more about the Sukhavati x Marhaba partnership!
The AMA will be divided into 2 segments: The general question session and the telegram live question session.
Just a reminder, the group will be unmuted when we start to collect the live questions.
Are you ready?
Naquib:
Absolutely … Let's Go !!
James:
So, without making a delay…Let’s start our AMA!
Would Naquib briefly introduce Marhaba DeFi to us?
Naquib:
Sure. Thanks, James….
M⋀RH△B⋀ is an ecosystem that is being built to embody the true spirit of an “Inclusive DeFi” by promoting participation finance. Here all communities, including the ones from the Islamic World, can benefit from the benefits of DeFi.
Based on the tenets of Blockchain such as trust, transparency, and security; M⋀RH△B⋀ DeFi has encapsulated universally applicable principles of Shariah into those tenets of Blockchain to render a suite of offerings.
Well, Marhaba was incubated when we were researching DeFi protocols in general. We discovered most of them are strictly non-shariah compliant and others were not shariah screened. Hence Marhaba was born to bring shariah-based DeFi solutions, to include the Muslim community AS WELL into the defi ecosystem.
And hence M⋀RH△B⋀ as an ecosystem was created due to the necessity and for the needs of the faith-based investor and financial needs.
done :)
James:
An inclusive DeFi platform that can link people all over the world! Such an interesting project!
What problems are Marhaba DeFi trying to solve? What is your unique selling point?
Mindaugas:
really excited about the connection!
Naquib:
One of the biggest markets and most neglected markets in the crypto world is the faith-based market. There are more than 1.5 billion people in the world that are at a distance from this market however the crypto world did not focus on this, thus Marhaba (Welcome) to M⋀RH△B⋀ Crypto Finance
Naquib:
The feeling is mutual @mindaugas87 :)
@mindaugas87 you knew what M⋀RH△B⋀ meant?
James:
I guess you will love to share that with our Audience
Mindaugas:
oh yes!
Welcome!
Naquib:
Spot on…
10/10 to you
Also, What makes us unique is firstly we are the first and only Shariah-compliant DeFi application. The second unique point will be that Marhaba is not aiming to be a single product as mentioned. We’re taking what we believe is the best DeFi products out there in terms of generating wealth for crypto investors and providing a one-stop solution for those who are interested in ethical investing while retaining the lucrative returns DeFi provides with a clear conscience. We are a unique solution to a common problem not only for Muslims but all faith background based users
James:
Really impressive and I believe Marhaba will be the pioneer in the crypto industry because of this unique idea.
Naquib:
oh, man… I was just about to purchase them from my SKT stock :)
James:
Moving on to the next question 🙂
Naquib:
absolutely. We will make it together
Naquib:
yeah
James:
Teamwork makes the dream work~
What are the use case and target audience of Marhaba DeFi?
Naquib:
Our target community is majorly the non-crypto community, which is almost 98% though. Keeping them in mind, we have designed the entire customer/user journey, from onboarding to usage to trading. The minimalistic UI, the color palette, the simplicity of the products, all aiming to solve the base problems of the users, are all strategies to ensure that the non-crypto savvy community is benefited and at the same time feel encouraged to explore more.
People who are seeking shariah alternatives will be motivated to come to M⋀RH△B⋀
James:
I can see the passion of the Marhaba team!
Yeah absolutely ☺️
Mindaugas:
+1
Naquib:
Yes, for the team… it's more than just a project. It's a vision!
James:
The great vision I must say~
Let’s move to the next question.
Why would Marhaba DeFi partner with Sukhavati Network?
Naquib:
M⋀RH△B⋀ is DELIGHTED to partner with Sukhavati because it has a demand to store non-confidential data in a decentralised manner. Sukhavati provides a layer of abstraction with a consensus layer on top to ensure data stored and retrieved is truly the data required and thus the point of truth. SKT is a vehicle to take us further into our quest for decentralization in all aspects
Mindaugas:
Thanks for the kind words! Our team really appreciates it!
Naquib:
I like your beard @mindaugas87
Mindaugas:
haha, preparing for the winter season
James:
+1 🤣
Just curious, How will this partnership benefit each other?
Naquib:
good question
In our Ecosystem, we will leverage SKT’s abstraction layer to securely and safely store non-private data in a decentralised manner on IPFS, without having to think about concepts such as data going stale, pinning, or IPFS clusters. On Sukhavati’s side, our partner engineers will onboard one of the strongest and unique defi platforms out there and prove their technology can and will work for critical systems that deals with economical value. 😬
James:
How does decentralize storage help Marhaba DeFi to improve its services compare to another platform?
Naquib:
Decentralisation of data is very crucial in defi and specifically in NFTs.
Mindaugas:
This is very important!
Naquib:
As data is stored in decentralised manner it removes the potential of metadata for a given NFT outlives the platform that nft was minted on.
To give an example an nft could be minted on x marketplace and metadata which includes things like images, traits that could be stored in centralised database
Now if this marketplace goes out of business in a year that nft is still available forever in the blockchain but the metadata will disappear as it was stored in centralised db controlled by the marketplace. This is something we want to avoid. Data should live forever hence the need for decentralised dbs.
James:
Seconded data should live forever ☺️
Naquib:
We believe, and I guess, everyone in the defi industry has similar thoughts, that nothing should be centralised unless confidential information is in question, and with this belief M⋀RH△B⋀ will push for things to be stored in ipfs as much as possible with the underlying tech stack of Sukhavati.
100%
James:
Great! What are your milestones and future plans?
Any event/campaign that you will host together with Sukhavati Network?
Naquib:
for sure…We have several.
To highlight some from the tech aspect I’d say the following. Release of our MVP version of all our products in v1 as per roadmap, starting with Sahal Wallet by the end of October.
We are trying to bring out the initial version of the NFT marketplace in the first week though. Then we would be Building extensive farming strategies for the Liquidity Harvester to allow for more “hands-off” investment for those looking to generate passive income
With SKT…
we have the next session with @mindaugas87 in the M⋀RH△B⋀ community on sep 3rd
Mindaugas:
can’t for it to share more exciting stuff for both projects!
Naquib:
after that, we aim to have a video podcast with the CTOs of both the projects live on our youtube channel
James:
Great stuff ahead, can’t wait☺️
Naquib:
sure.. let's move to the next question :)
Mindaugas:
Excited to have Rami our CTO on the video!
all in all, really looking forward to this cooperation!
Naquib:
more than our team, our community is excited about this collaboration.
James:
Great answer Naquib! Here comes the telegram live question session. We will pick 5 questions and each winners can win 20 USDT. Are you ready guys?
Naquib:
keeping fingers crossed to see what we bring together
James:
Let the count down begin
3
Naquib:
landslide…
James:
2
1
Part 2: Community Questions
James:
There are quite a lot of questions! Take your time @odiatokkanaquib and @mindaugas87
Humaun…. Kabir….:
Collaborations and partnerships are some of the most important cornerstones to help improve adoption. Can you tell us about your current partners, plans for partnerships, and what everybody stands to gain from these partnerships?
Mindaugas:
Well.. @odiatokkanaquib and Sukhavati definitely have one! Haha, again, not to repeat we had a special medium article on that, so I’ll just leave one here.
করবা সখি প্রেম:
Do you plan to build partnerships with local cryptocurrency developers projects in each country to make the project more global?
Naquib:
Good Question. This is one of the reasons we engaged with technologies like SKT network. We are on a quest to build a platform to host and incubate ethical finance-based projects and ideas from individuals and groups of talented developers from across the world. And the “inclusivity” idea behind M⋀RH△B⋀ is something that is already making it a global project :)
Dan FOMO:
Can you list 1–3 killer features of Your Project that make it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?
Naquib:
1 big killer feature of M⋀RH△B⋀ is definitely that it uses the decentralised cloud storage technology of Sukhavati :)
this gives us a huge competitive advantage over other projects
Almost all of the questions are copy-paste from other AMAs :)
@mindaugas87
James:
Two more questions to wrap up 😃
Mindaugas:
hehe
Savanna Mead:
Currently, NFT is very hot, do you think you will apply NFT technology to your products in the future?
Naquib:
Yes, we at M⋀RH△B⋀ do realize this. Partnering with SKT was part of the strategy to onboard this moving train of opportunity. our NFT platform — SOUQ NFT will use the underlying SKT De-Cloud to ensure that we are safe from the challenges of centralised storage of data and NFT UI in other projects.
Winter:
Binance smart Chain blockchain is having high transaction speed and cheap gas fees, Are you planning to launch your mainnet or switch to other blockchains in the future?
Naquib:
Yes, initially we will launch our NFT platform on the BSC. But in v2 of our roadmap for the NFT marketplace, we would be going multi-chain and cross-chain. We are discussing few partnerships with blockchain as well, in order to utilize co-building with their engineers as well. We do realize the gas cost issues of blockchain like Ethereum, hence our team is working on layer 2 solutions to eliminate, or drastically reduce the cost, for the benefit of our users.
James, [27 Aug 2021 at 9:59:01 PM]:
Thanks for your time Naquib and Mindaugas! Can you wrap up the AMA by sharing with us the social media of Marhaba DeFi?
James:
Was a great one, not easy choosing from a lot of questions 😃
Mindaugas:
@odiatokkanaquib thanks for coming to our channel and talking with everyone!
can’t wait to meet again very soon!
Naquib:
Sure… The social media details are here:
Website | Twitter | TG Chat | ANN Chat | Blog | Documents | Facebook | LinkedIn | Arabic Community | Youtube
Absolute please James & Mindaugas. You have been a great host.
James:
Thanks, and Hope to see you around!
Naquib:
M⋀RH△B⋀ token for you @JamesCinch :)
have a good day
About Sukhavati Network
Sukhavati Network is a decentralized cloud network service that is focused on storage. The network is built on hardware-based Trusted Execution Environment (TEE) and the Substrate framework to inspire and incentivize improvements on distributed storage ecosystems.
Sukhavati creates a decentralized gateway that covers both Web 3.0 and Web 2.0 storage services. It allows unified data storage, retrieval, and management on Web 3.0 applications.
Contact Us
Website: https://sukhavati.io/
Twitter: https://twitter.com/Sukhavati_N
Telegram Channel: https://t.me/SukhavatiNetwork
Telegram Announcement Channel: https://t.me/SukhavatiN
Medium: https://medium.com/@Sukhavati
Reddit: https://www.reddit.com/r/SukhavatiNetwork/
