Specific Utilities (AZKA, vAZKA, dLP)

The utility and features of the AZKA token and its byProducts are as folows:

AZKA

The AZKA token can be used to participate in governance to influence protocol resources and initiate parameter changes. Outside of these core features, there may be significant desire by third party protocols and individuals to:

i) introduce their token within the AZKA protocol as the subject matter of Murabaha, as a currency type used to facilitate Murabaha or as a collateral type. Such proposals will be subject to voting before being assigned for internal Shariah and Risk assessment.

ii) Deciding on the distribution of eAZKA rewards allocated for Murabaha activity. (Only dLP holders can vote on eAZKA emissions).

iii) In phase 3 there may also be institutions/entities that would like to use their voting power to initiate the whitelisting process such that they are approved for non-collateralised Murabaha.

There is also Future potential to add AZKA token as a collateral type and as the subject matter of Murabaha sale (subject to the growth and market depth of the AZKA token)

vAZKA (vested AZKA)

vAZKA is a non trade-able non-transferable byproduct of the AZKA token that can be obtained by converting AZKA to vAZKA at a 1:1 ratio. It can also be earned through participating in the dLP program (Dynamic Liquidity Pool). Staked vAZKA earns a portion of the protocol's fees, paid in azTokens and in the form of AZKA tokens obtained from periodic token buybacks .

Earning vAZKA can be done in the following ways:

1) Providing liquidity to the AZKA/ETH pool on Uniswap and time locking for dLP. (Earn a pro-rata share of Unconditional vAZKA emissions )

2) Depositing Liquidity into any of the Currency Pools used to facilitate Murabaha. (subject to meeting the dLP eligibility requirement).

3) Having an active debt incurred through executing Murabaha. (subject to meeting the dLP eligibility requirement).

4) Disqualifying ineligible dLP holders from earning vAZKA (also subject to meeting the dLP eligibility requirement).

vAZKA also carries the same rights to governance as the AZKA token. Each vAZKA represents one vote. Converting vAZKA back to AZKA is also done at a 1:1 ratio however, there is 90 day vesting period whereby AZKA is is unlocked linearly.

vAZKA holders also gain access to the DeFi tool suite, a set of tools geared towards asset management in DeFi and a special discord channel catered to the support and discussion of asset management in DeFi.

dLP (Dynamic LP)

AZKA token holders can contribute liquidity to the AZKA/ETH pool on Uniswap and then lock their Uniswap LP tokens for a chosen duration to engage in the AZKA dLP program. The amount of AZKA dLP they receive is influenced by a multiplier, which varies based on the length of the staking period. This multiplier enhances the users dLP, consequently increasing the holder's proportional share of 'unconditional vAZKA rewards'. The longer the lock-up, the higher the multiplier, enhancing the holder's share in the distribution.

AZKA dLP holders are also eligible for 'conditional vAZKA' rewards linked to Murabaha activities, contingent upon meeting specific eligibility criteria. Those that meet the eligibility criteria can also participate in 'Disqualification Bounties.' These bounties are designed to ensure the compliance of other AZKA dLP holders with regards to the eligibility requirements. The lock-up period's multiplier is crucial not only for determining the holder's share of unconditional rewards and fees but also for managing eligibility for eAZKA rewards associated with Murabaha activities

Additionally, AZKA dLP holders also gain governance rights, with each dLP token representing the value of the underlying AZKA in the LP position. They also get access to a suite of DeFi tools for asset management and a dedicated Discord channel for DeFi asset management support and discussion.

It's important to note that AZKA dLP is non-tradeable and non-transferable.