Fig. 2 – Source: Investopedia 2022 - https://www.investopedia.com/younger-generations-bullish-on-cryptocurrencies-5223563. 

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Saladin aims to offer an avenue for tokenized investments with a moderate and manageable level of risk, providing a solution that was previously unavailable to investors hesitant to enter the cryptocurrency market due to personal, cultural, and religious considerations. This is enabled by following Shariah compliance.

 

Shariah compliant finance emerged in the early 1990s, with Saudi Arabia, Malaysia, and Italy pioneering its introduction into financial markets. Since then, it has gained considerable presence and recognition in markets such as the UK, UAE, Australia, and Singapore, becoming synonymous with ethics, transparency, risk mitigation, and social justice. In contrast to traditional finance, Shariah compliant finance eliminates conventional interest-bearing options; and it further prohibits investments in sectors associated with gambling, alcohol and speculative trading. Consequently, there has been a demand for investment options that meet these requirements, and the adoption of Saladin is expected to bridge the gap between Islamic finance and the cryptocurrency market. 

 

Adoption and Usage of Cryptocurrency in Muslim Communities Worldwide: 

- Middle East and North Africa (MENA) region received about $566 billion in cryptocurrencies between July 2020 and June 2021; and an on-chain value of approximately $390 billion in 2023. 

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- United Arab Emirates (UAE) is a leader in the adoption of blockchain and cryptocurrencies, for instance 30% of Dubai’s population now trades in crypto currencies; the government has introduced a Virtual Assets Regulation Authority to monitor the sector. 

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- Saudi Arabia has shown significant interest in cryptocurrencies, with growing adoption among the younger population. According to a survey by KuCoin, about 3 million people, or 14% of the adult population, have transacted in cryptocurrencies. 

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- Egypt has seen cryptocurrency adoption rise despite regulatory uncertainties. A survey by Statista in 2021 revealed that approximately 3.2% of Egyptians own cryptocurrency. 

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- Indonesia has seen a notable increase in cryptocurrency adoption. According to TripleA, an estimated 7.2 million Indonesians owned cryptocurrencies in 2021. The country ranks 6th globally in crypto ownership, with transactions worth $57 billion in 2021. 

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- Malaysia has established a regulatory framework for cryptocurrency exchanges. As of 2021, approximately 4.4% of Malaysians owned cryptocurrencies. 

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- Pakistan’s cryptocurrency adoption is growing rapidly. Pakistan ranks third in the 2021 Global Crypto Adoption Index by Chainalysis. 

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- Other Muslim majority countries have embraced digital currencies to address financial diversification and growth. Türkiye, for example, saw a significant increase in cryptocurrency use amidst economic turmoil, with about 16% of the population i.e. 13.4 million people owning cryptocurrencies in 2021. 

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Sources: 

https://blog.chainalysis.com/reports/2021-geography-of-cryptocurrency-report 

https://www.kucoin.com/blog/into-the-cryptoverse-saudi-arabia 

https://www.statista.com/statistics/1202468/egypt-cryptocurrency-ownership/ 

https://triple-a.io/crypto-ownership/ 

https://blog.chainalysis.com/reports/2021-global-crypto-adoption-index 

https://www.statista.com/statistics/1202468/turkey-cryptocurrency-ownership/ 

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MODEL 

Saladin’s business model is designed to support sustainable growth, social responsibility, and strategic investments. 

 

Pre-Launch:

Saladin will host an Initial Coin Offering (ICO). The funds raised through the ICO will be allocated into two areas. 

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- Shariah compliant investments portfolio:

This will include a diverse range of assets, such as real estate, commodities, and other permissible investment vehicles. This ensures that Saladin’s investment activities are aligned with ethical guidelines, providing peace of mind to investors. 

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- Liquidity pool on DEX:

The liquidity pool will facilitate the exchange of Saladin tokens within the cryptocurrency market, ensuring stability. By investing in a liquidity pool, Saladin will enable seamless trading of its tokens, reduce volatility, and enhance market confidence. 

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Post-Launch: 

Saladin employs a three-part business model, as delineated below. 

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- Revenue: 

Saladin incorporates a transaction fee of 2.5% on all transactions on DEX, in-keeping with market precedence. Additionally, Saladin will generate consistent returns on its portfolio of Shariah compliant investments. 

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- Sadaqah: 

In Shariah based terminology, Sadaqah denotes the voluntary act of giving charity in-order to alleviate poverty and establish social justice. To align itself with the principles of Shariah and social responsibility, Saladin dedicates 0.5% of its transaction fee to partner charities, supporting humanitarian welfare. 

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- Disbursement: 

2% of the transaction fee revenue serves as a tool to sustain the business by contributing to Saladin’s operations, marketing, research and development, ESG initiatives, and community building. Returns generated on investments will be channeled into short-term and long-term monetary growth via further portfolio investments, liquidity pool deposits, and periodic token buybacks.  

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Saladin represents a unique fusion of shariah based financial principles with modern cryptocurrency technology. By leveraging the strengths of both, Saladin aims to provide a stable, ethical, and profitable investment vehicle for its stakeholders. 

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TOKENOMICS 

Name: Saladin 

Symbol: SAL 

Total Supply: 15 billion SAL 

Max Supply: 20 billion SAL 

Blockchain: Ethereum (ERC-20) 

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Initial Token Distribution: 

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- ICO:

2billion Saladin allocated for ICO event to early adopters for project funding. 

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- Liquidity Pool:

1 billion Saladin allocated for DEX, to facilitate trading and provide stability. 

 

- Airdrops:

200 million Saladin reserved as incentives for founders, core team, and strategic partners contributing to Saladin’s development. 

 

- Long Term Reserve Pool:

11.8bn Saladin held for strategic initiatives, with batch-form releases, subject to transparent governance decisions. 

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INVESTMENT STRATEGY 

Saladin’s investment strategy is at the heart of its mission to provide ethical investment opportunities within the cryptocurrency space. Saladin’s portfolio is meticulously crafted to include assets that align with Shariah based financial principles. This is to strictly avoid investments in prohibited sectors such as usury, gambling, alcohol, and speculative trading. 

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Portfolio Criteria 

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- Asset Selection: 

The assets included in Saladin’s portfolio are chosen after a thorough screening process to ensure their compliance with the token’s vision and principles. This selection process has clear criteria and guidelines in place. 

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- Diversification:  

Diversification is a fundamental principle of Saladin’s risk management process, that governs a range of assets invested via various strategic partners and financial instruments in multiple geographies, to mitigate risk and provide investment stability. 

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- Active Management: 

Saladin’s portfolio is pro-actively managed to adapt to changing market conditions and seize opportunities that optimise risk and consistent returns on investments. 

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- Visibility: 

Performance of Saladin’s investment portfolio will be trackable by users on the website.  

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- Periodic Updates: 

Updates and announcements related to Saladin’s investment portfolio will be posted on the website regularly. 

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- Compliance Assurance: 

Saladin and its strategic partners operate as Shariah compliant business entities. 

 

 

FAST Reinvestment Strategy 

The Flexible, Agile, Sustainable, and Transparent (FAST) reinvestment strategy regularly siphons earnings from mature investments into new opportunities and perpetuates growth. 

 

- Flexible: 

Saladin's reinvestment strategy is characterized by its flexibility in allocating returns generated from maturing investments.  

 

- Agile: 

The reinvestment strategy is not static; it adapts to market trends and risk assessment. This responsiveness enables Saladin to remain agile in a rapidly changing financial landscape. 

 

- Sustainable: 

The primary objective of the reinvestment strategy is to fortify sustainable growth, by identifying new opportunities that are going concerns, in order to mitigate risk and ensure longevity. 

 

- Transparent: 

Regular reports communicate the outcomes of the reinvestment strategy to token holders. These reports provide insights into the contribution and performance of newly reinvested assets. 

 

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ECOSYSTEM | WEB3 

Saladin leverages the latest advancement within Ethereum's technological landscape, known as "Merge." This integration is pivotal in ensuring seamless transaction processing and secure record-keeping on the Ethereum network. 

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- Merge: 

A new blockchain standard shifting Ethereum from proof of work (PoW) to proof of stake (PoS) and increasing transaction capacity to 100,000 per second. This promises Saladin’s status as a high-performance cryptocurrency within the Ethereum ecosystem. 

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- Strategic Exchange Selection: 

Uniswap is the preferred exchange for Saladin’s launch due to its enduring decentralization, privacy, and liquidity incentives. It ensures user and asset security through smart contract audits, bug bounty programs, community monitoring, secure wallet integration, and emergency shutdown capabilities. For the latest updates, refer to Uniswap's official website and documentation. 

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- Token Trading and Accessibility: 

Saladin provides practical utility for its token holders, whereby they can trade tokens using local wallets or personal trading accounts, which allows them to be readily accessed and traded. This accessibility is not only convenient but also fosters liquidity, making Saladin a reliable and versatile entity. 

 

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ASSET SECURITY AND CUSTODIANSHIP 

Saladin places the utmost importance on security and integrity, and entrusts its investments to a range of custodians, as seen below. 

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- Financial Institutions: 

These form a critical part of the custodian network. They oversee, protect, and manage a substantial portion of the investments, ensuring investment in Shariah compliant assets. 

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- Independent Scholars: 

These are experts in finance and Shariah compliance; and they play a vital role in scrutinizing and approving investments. 

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- Legal Compliance Experts: 

They validate the investments to ensure adherence to local and international financial laws. Their involvement mitigates legal risks and upholds general regulatory compliance. 

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The inclusion of these custodians within the investment framework significantly enhances the trust and integrity of the entire ecosystem. 

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FOUNDERS 

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Jawad Saadi | Founder | Chief Technology Officer: 

Jawad is a senior full stack developer, boasting over 15 years of extensive experience in the realms of data science and the creation of mobile payment solutions. He conceived the idea and design of the Saladin project. Jawad brings extensive expertise in blockchain technology and cryptocurrency to the project, contributing to its success. 

In the past, Jawad has orchestrated an array of innovative solutions, encompassing a program for optimizing stock market portfolios through the application of the Markovitz model, the development of electronic wallets featuring tokenized bank cards, mobile peer-to-peer money transfer solutions, both for outdoor and indoor parking payment systems utilizing NFC technology, bus payment solutions integrated with NFC cards, as well as security control systems, among others. Most recently, Jawad has pioneered a prototype model for central bank digital currency (CBDC) grounded in Hyperledger Fabric (HLF) blockchain technology. 

His academic credentials include a bachelor's degree in mathematics and physics from Ecole des Mines de Rabat (Morocco), and MBA in finance from Laval University (Canada). 

  

 

Mastafa Saadi | Co-Founder | Chief Executive Officer: 

Mastafa brings a wealth of experience in finance and business development, gained from a successful tenure in banking and sales in the United Kingdom. 

With a keen understanding of the evolving landscape of trading, Mastafa is driven by his belief that the future lies within the cryptosphere. He joined Jawad in order to develop and sustain the business and client strategy of Saladin. His current aim is to provide compelling investment opportunities for individuals seeking exposure to the digital currency demand and ethical finance using a shariah compliant mechanism. 

His academic credentials include a bachelor’s degree in business administration from London School of Commerce (United Kingdom), and MSc in finance from University of Westminster (United Kingdom). 

  

 

Saif Halim | Co-Founder | Chief Operations Officer: 

Saif represents a unique blend of professional experience in finance, demand and supply management, commercial partnerships and IT infrastructure from United Kingdom. His ambition to become a purveyor of financial credibility and fill a gap in the crypto market with a simple, unique, and user-friendly Shariah Compliant token has partnered him with Jawad and Mastafa. 

His goal is to inform and deliver operational and compliance requirements of Saladin, to elevate it to a premium token system on the market. 

His academic credentials include a bachelor’s degree in business administration and corporate law from Kingston University (United Kingdom) and MSc in finance from University of Westminster (United Kingdom). 

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PROSPECTS AHEAD 

Saladin is positioning itself to become a dynamic entity. With trust, performance and innovation, a plethora of possibilities await. Let’s explore the avenues of research and development Saladin is poised to pursue. 

 

- Expanded Marketing: 

Efforts will be intensified to broaden our market presence through community events and strategic partnerships. Saladin’s reputation will benefit from deeper inroads in digital and conventional marketing areas. 

 

- Launch TPF (Token Purchase via FIAT) on the Saladin website: 

Implementation of the option for users to purchase tokens using FIAT currency on the Saladin website. 

 

- Launch Saladin Wallet: 

The Saladin wallet will be launched on both Android and iOS platforms, providing a secure and user-friendly interface for managing and transacting Saladin tokens. 

 

- Decentralized Finance: 

Collaboration with other decentralized finance (DeFi) projects to expand our ecosystem. This collaboration will focus on developing a range of ethical financial products, reinforcing our commitment to ethical finance. 

 

- New Sustainable Ventures: 

Pursuit of investment diversification by venturing into new and sustainable projects. This strategy is aimed at not only ensuring long-term profitability but also supporting ventures that promote sustainability and ethical practices. 

 

- Develop Partnerships with Academic Institutions: 

Partnerships with academic institutions and industry bodies to foster greater awareness and understanding among the broader Saladin community. 

 

- Invest in AI and Machine Learning: 

To stay at the forefront of financial innovation, there will be investment in research and development aimed at integrating artificial intelligence and machine learning. These technologies will be leveraged to optimize portfolio management, ensuring efficient and effective asset allocation. 

 

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DISCLOSURE STATEMENT

  

Introduction 

This overview pertains to Saladin, a digital asset operating on the Ethereum blockchain. Its purpose is to furnish users, investors, and participants with essential insights into the core elements and risks associated with participating in transactions involving Saladin. 

  

Essence of Saladin 

Saladin is a cryptocurrency developed with specific principles in alignment with Islamic financial ethics. It is crucial to recognize that Saladin, like any cryptocurrency, carries inherent risks. 

  

Adherence to Shariah Principles 

While Saladin is fashioned to always ensure adherence to Shariah principles, users are encouraged to conduct their own due diligence and seek guidance from knowledgeable Islamic finance experts to ensure alignment with individual standards and beliefs. 

  

Risks Associated with Investments 

Participating in cryptocurrency investments, including Saladin, involves significant risks. The value of Saladin may exhibit variance in performance, and investors could potentially incur significant loss. Participation is recommended only for individuals comprehending and accepting the financial, legal, and other risks associated with such investments. 

  

Tax and Legal Considerations 

The taxation and legal status of cryptocurrency transactions, including those involving Saladin, may vary by jurisdiction. Users are responsible for understanding and complying with all applicable tax and legal obligations within their respective jurisdictions. 

  

Technological and Security Challenges 

Blockchain and cryptocurrency technologies are subject to risks such as cyber threats, software vulnerabilities, and operational disruptions. While efforts are made to uphold robust security protocols for Saladin, users assume the risk of loss due to technological failures. 

  

Regulatory Landscape 

This disclosure does not imply an endorsement by any licensing or approval authority for either [i] the Issuer or [ii] the Virtual Asset. No representations or warranties regarding fitness for purpose, suitability, or regulatory status are provided herein. Users are urged to be cognizant of jurisdiction-specific regulations. 

  

Returns Are Not Guaranteed 

There is no assurance of profits or returns from acquiring or holding Saladin. The performance of Saladin is influenced by various factors, including market trends, technological advancements, and regulatory changes. 

  

No Third-Party Assertions 

No third party, including exchanges or wallet providers, is authorized to make representations or commitments on behalf of Saladin unless explicitly stated by Saladin's official channels. 

  

User Acknowledgment 

By acquiring, holding, or using Saladin, users acknowledge and affirm that they have read, comprehended, and accepted the risks and terms outlined in this disclosure.