LAYER 2
Perpetual Sukuk
Islamic capital market instrument — ijarah-style profit distribution + embedded everlasting call option at ι=0 (AAOIFI SS-17)
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Ijarah-style: your USDC is deployed and earns periodic profit at the stated rate. At maturity you receive principal + embedded call upside (ι=0, no riba).
Shariah Compliance — AAOIFI Standard 17
Sukuk represent undivided ownership in a deployed asset pool, NOT interest-bearing debt. Profit = ijarah rent (proportional to deployment time and rate). Embedded call = mudarabah participation in asset appreciation above par. Interest parameter ι=0 throughout — no riba enters the pricing.