1- iGold is a digital gold unit based on a smart contract on the Polygon network’s blockchain, and it equals 0.1 grams of actual gold.
2- iGold is a project developed and managed by ISLAMICOIN, designed specifically for low-income individuals who want to gradually save gold and replace their savings with actual gold ounces or keep them on the blockchain network for resale.
3-Investment programs for iGold can be developed for interested large-scale investors based on specific agreements.
4- iGold is subject to Islamic laws and regulations and is audited for Sharia compliance by the Halal Crypto Bureau.
5-The initial issuance of iGold is equivalent to 10,000 units, which equals 1,000 grams of actual 24-karat gold.
6-If the amount of iGold available for sale runs out, ISLAMICOIN cannot issue more of it until an equivalent amount of actual gold is available, under the supervision and written approval of the Crypto Halal office.
7- iGold can only be bought and sold on the decentralized ISLAMIdex platform within the ISLAMIwallet crypto wallet to avoid the risk of centralized platform failure.
8-The price of iGold is directly linked to global gold prices, rising with increases and falling with decreases. The price of one iGold unit is equivalent to the price of 0.1 grams of 24-karat gold.
9-ISLAMICOIN does not guarantee fluctuations in the price of gold, and buying and selling operations are at the investor’s own risk. Profit and loss are the responsibility of the investor.
10-Those who purchase iGold can request to exchange it for tangible actual gold only when they have accumulated 311,034,768 units of iGold, equivalent to the weight of one international 24-karat gold ounce, which is 31.1034768 grams.
11- In the first phase, and until further notice, actual gold delivery is possible for those who want to exchange iGold under specific conditions in Lebanon, the United Arab Emirates, France, and Switzerland, subject to delivery fees determined at the time.
12- The iGold units, which are replaced with actual ounces, are either burned or alternative gold ounces with the same terms and specifications are found to cover them.
13- iGold is bought and sold exclusively through ISLAMIwallet and only during global stock market trading hours, from Monday at 00:00 to Friday at 20:55 GMT. (Trading stops on Saturdays and Sundays every week.).
14- iGold holders can lock their holdings in ISLAMIwallet on the blockchain to ensure their retrieval in case of phone loss or wallet theft, using the Emergency Withdrawal feature, before the locking period expires, in return of a specified fee.
15- iGold holders are solely responsible for the safety of their storage in ISLAMIwallet and bear sole responsibility for maintaining the wallet’s passwords and emergency withdrawal password, and ISLAMICOIN assumes no responsibility in this regard.
16- The iGold smart contract is audited by the German auditing company Solidproof, as well as the locking contract in ISLAMIwallet, to ensure user security.
17- iGold is purchased in exchange for payment in the USDT currency on the Polygon network only, equivalent to the market price of gold.
18- The purchase and sale of iGold is subject to gas fees paid in Matic currency, typically around $0.01, and transaction fees paid in ISLAMICOIN currency, equivalent to 1% of the sale or purchase value. The ISLAMICOIN currency paid as fees is burned to boost the value of ISLAMICOIN by reducing the supply in the market to a certain level.
19- Each iGold trader agrees to these terms and conditions, which may be added to or modified as the project expands, to ensure the rights of the seller and buyer in accordance with Islamic Sharia rules.
