> For the complete documentation index, see [llms.txt](https://amanafis-organization.gitbook.io/amanafi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://amanafis-organization.gitbook.io/amanafi/what-is-amanafi.md).

# What is AmanaFi?

AmanaFi is the first multi-feature sharia-compliant decentralised finance application built on the Haqq Network, designed to facilitate transactions within the Haqq Network ecosystem. 

This platform adheres to Islamic economics and finance principles, ensuring compliance with Sharia law. AmanaFi offers three main features, each rooted in the ethical and financial guidelines of Islamic finance.

1. Productive Waqf Staking: 

AmanaFi enables users to stake $ISLM tokens as Waqf (endowment). The returns generated from this staking process are distributed among the stakers in the form of $DEEN, also to AmanaFi, and predominantly for social projects selected through AmanaDAO. These projects aim to bring societal benefits, such as constructing wells and public schools, thereby fulfilling the social responsibility aspect of Islamic finance.

2. USDC Rahn-Based Lending and Borrowing: 

This feature is based on the Islamic principle of Rahn (collateralised loan). Borrowers can pledge $DEEN tokens as collateral to receive $USDC loans. Unlike conventional loans, AmanaFi's lending model imposes a flat monthly fee agreed upon at the outset, ensuring interest-free transactions. The fee is shared between the lenders and the platform, aligning with Sharia compliance.

3. AmanaDAO: 

The decentralised autonomous organisation (DAO) of AmanaFi, known as AmanaDAO, allows users to submit and vote on proposals, particularly those concerning the allocation of Waqf funds. Governance is exercised through the $AMAN token, which grants voting rights and entitles holders to a share of the platform's profits, in line with the Mudharabah (profit-sharing) principle.

4. AmanaFi Open World: 

AmanaFi Open World is a virtual environment showcasing the projects funded by Waqf contributions. Users can explore the virtual world to see schools, public wells, and other socially beneficial initiatives built with the return from the Waqf Staking feature. This immersive experience highlights the tangible impact of AmanaFi's mission, making the results of your contributions visible and engaging.

AmanaFi stands out as a pioneering Sharia-compliant DeFi platform, offering ethical financial solutions while fostering community development and adherence to Islamic economic principles.

<br>