LAYER 4
iCDS — Islamic Credit Default Swaps
Riba-free credit protection — quarterly premium = Π_put(spot, recoveryFloor) × notional / WAD at ι=0 (Paper 2)
All Protections
No protections opened yet. Be the first seller.
Open Protection (Seller)
Deposit full notional as collateral. Earn quarterly premiums from the buyer.
Connect wallet to open protection.
Shariah Compliance — Paper 2 Framework
Maysir eliminated: Seller deposits full notional collateral — no naked bet.
Gharar eliminated: Credit event = on-chain oracle condition (spot ≤ floor), not committee-defined.
Riba eliminated: Premium = Π_put(spot, recoveryFloor) × notional / WAD at ι=0. Dynamic, not fixed rate.
Gharar eliminated: Credit event = on-chain oracle condition (spot ≤ floor), not committee-defined.
Riba eliminated: Premium = Π_put(spot, recoveryFloor) × notional / WAD at ι=0. Dynamic, not fixed rate.