DeFi
Breaking Barriers: HAQQ Network Integrates evmOS, Improving Developer Access to DeFi Features
KEY POINTS
- The integration will allow developers to create more sophisticated and innovative dApps.
- The partnership promotes transparent communication to unlock the full potential of DeFi within the HAQQ ecosystem.
- HAQQ’s ethics-first standards and evmOS interoperability expertise ensure smart contracts adhere to ethical principles
HAQQ Network, a leading ethics-focused Web3 decentralized finance (DeFi) ecosystem, has partnered with the EVM evmOS-enabled technology stack to expand HAQQ users and developers’ access to more DeFi capabilities by enabling cross-chain compatibility with the Cosmos blockchain platform and Ethereum networks. The partnership breaks technical barriers that block the potential of DeFi functionality.
HAQQ Network enabled developers to create smart contracts aligned with Islamic principles, giving them access to the huge Muslim population. With over two million HAQQ wallet downloads on the Google PlayStore and Apple App Store, users engage through the network’s native currency, Islamic Coin ($ISLM), the digital asset that not only respects Islamic conventions but also supports sustainable practices.
Although HAQQ has played a key role in facilitating a unique approach to blockchain development through its incorporation of Islamic finance principles into the modern financial framework, it has faced limitations due to siled communication between its EVM layers. (Ethereum Virtual Machine) and Cosmos.
Among the challenges encountered by HAQQ before the evmOS integration were issues related to on-chain governance and preventing the integration of Cosmos-based assets. However, evmOS enters the scene with a world-class framework for building application-specific blockchains, the Cosmos SDK and the consensus algorithm of the CometBFT distributed, fault-tolerant state machine replication engine.
The integration will not only provide developers with a platform that “feels” like Ethereum’s EVM, but will also enable direct interaction between Solidity smart contracts and Cosmos modules, ensuring seamless communication within the HAQQ ecosystem.
“This partnership with evmOS is a game-changer for HAQQ. By integrating evmOS, we overcome previous limitations and open up new possibilities for our developers and users. This collaboration enhances our DeFi capabilities and reinforces our commitment to providing a financial ecosystem focused on ethics,” HAQQ Network co-founder and CTO Andrey Kuznetsov told the International Business Times in a statement.
Under the HAQQ-evmOS partnership, developers can create sophisticated smart contracts and decentralized applications (dApps) without the concerns of most developers such as scalability, performance and connectivity, while adhering to ethical standards dApp development.
Specifically, Solidity developers can create smart contracts with advanced governance, real-time transactions, asset swaps, liquidity staking, and algorithmic trading strategies. They will also be able to use the EVM side of the Inter-Blockchain Communication (IBC) protocol, which is expected to increase the total value locked (TVL) of the HAQQ ecosystem since developers now have the power to provide innovative, compliant solutions to the community. to Sharia law. Functionality.
$ISLM holders can also benefit from HAQQ-evmOS integration features, including yield optimization and algorithmic vaults. By making a wider range of dApps and DeFi services available to users, the collaboration significantly improves the overall user experience.