Islamic Digital Finance is based on core concepts of balance, which help ensure that the motives and objectives driving the finance industry are beneficial to society. in an interest based transaction, the owner of the wealth gets return without making any effort, and the borrower carries all the risk.
Wrong. Lenders poses a risk of default. The imterest that borrower paid is a compensation to this risk.
Benefits:
1: The ERC-20 tokens which anybody is holding and not borrowing, lending, Staking, Farming or not putting in other kind of interest based system and just holding in his/hers wallet will generate income.
~snip~
How it will work:
Anybody holds 100 USD worth of any ERC-20 Token including Ethereum and 100 USD worth of IDF for 1 complete week from UTC 00:01 Monday to UTC 23:59 Saturday will receive 2 IDF in his/hers ETH wallet.
Price data of ERC-20 Tokens for the purpose of distribution of IDF will be taken from coimarketcap.com and coingecko.com on Sunday every week.
How is this different from staking?
Initial price of 1 IDF will be 5 USD until it listed on coinmaketcap.com or coingecko.com. after listing IDF price data will also be collected from coin marketcap.com and coingecko.com.
2 IDF will be distributed every week to every wallet who holds the 100 USD worth of IDF and any ERC-20 no matter how high price will reach. As an example if ever 1 IDF reached to 10000 USD the holder of 0.01 IDF = 100 USD and 100 USD any ERC-20 will be eligible for the same distribution amount which is 2 IDF per week.
If anybody holds 10000 USD worth of any ERC-20 and 10000 USD worth of IDF will get 200 IDF in their ETH wallets.
Let me get this straight, assuming that IDF price reached $10,000 one day, anybody owned 0.01IDF, which an equal to $100, will receive $20,000?
Also, for your point of buyback, where does the profit to perform buyback generated from? As far as I get, you didn't offer any products or services or anything that can generate team any spare fund to perform buyback, so with what will you pay the buyback?