Main ethics-first Web3 decentralized finance (DeFi) ecosystem HAQQ Community has partnered with EVM-compatible tech stack evmOS to broaden the entry of HAQQ customers and builders to extra DeFi functionalities by enabling cross-chain compatibility with blockchain platform Cosmos and Ethereum networks. The partnership breaks the technical limitations that block the potential of DeFi functionalities.

HAQQ Community has empowered builders to construct sensible contracts aligned with Islamic ideas, giving them entry to the large Muslim inhabitants. With over two million HAQQ pockets downloads throughout the Google PlayStore and the Apple App Retailer, customers have interaction by the community’s native foreign money, the Islamic Coin ($ISLM), the digital asset that not solely upholds Islamic conventions but in addition helps sustainable practices.

Whereas HAQQ has performed a key position in facilitating a novel strategy to blockchain improvement by its incorporation of Islamic finance ideas into the trendy monetary framework, it did face limitations because of siloed communication between its EVM (Ethereum Digital Machine) and Cosmos layers.

Among the many challenges confronted by HAQQ previous to the evmOS integration have been points associated to on-chain governance and the prevention of integrating Cosmos-based property. Nevertheless, evmOS enters the image with a world-popular framework for constructing application-specific blockchains, the Cosmos SDK, and the consensus algorithm of distributed, fault-tolerant state machine replication engine CometBFT.

The combination won’t solely present builders with a platform that “feels like” Ethereum’s EVM, but in addition allow direct interplay between Solidity sensible contracts and Cosmos modules, making certain that communication is seamless throughout the HAQQ ecosystem.

“This partnership with evmOS is a game-changer for HAQQ. By integrating evmOS, we overcome previous limitations and unlock new possibilities for our developers and users. This collaboration enhances our DeFi functionalities and strengthens our commitment to providing an ethics-first financial ecosystem,” HAQQ Community co-founder and CTO Andrey Kuznetsov advised Worldwide Enterprise Instances in an announcement.

Below the HAQQ-evmOS partnership, builders can create subtle sensible contracts and decentralized purposes (dApps) with out the issues most builders have corresponding to scalability, efficiency, and connectivity – all whereas adhering to moral dApp improvement requirements.

Extra particularly, Solidity builders can create sensible contracts that function superior governance, real-time buying and selling, asset swaps, liquid staking, and algorithmic buying and selling methods. They will even be capable of make the most of the EVM aspect of the inter-blockchain communication (IBC) protocol, which is predicted to spice up the HAQQ ecosystem’s complete worth locked (TVL) since builders now have the facility to offer the group with revolutionary Shariah-compliant performance.

$ISLM holders also can profit from HAQQ-evmOS integration options, together with yield optimization and algorithmic vaults. By making a broader vary of dApps and DeFi providers out there to customers, the collaboration considerably improves the general person expertise.