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ريّان

Fixed-price lending with no interest.

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The problem

1.8 billion people can't use DeFi lending. Every lender charges interest.

$4.5TIslamic finance assets with no onchain lender
$20B+borrowed on Aave alone, off limits to all of them
1.8BMuslims bound by a prohibition on interest
0live DeFi lenders built on murabaha, before Rayyan
Pew Research 2024 · ICD-Refinitiv 2024 · DefiLlama
The solution

Rayyan replaces interest with murabaha.

80 to 90%

of Islamic banking runs on murabaha, a cost-plus sale with one price agreed up front. Rayyan brings it onchain and backs every loan with real collateral.

Price fixed at signatureCost cannot growForgiven on early exitSecured by collateral
01 · Fixed at signature

Your price is set the moment you sign. From there it can only go down.

You borrow100,000 USDC
Markup · 5% for 360 days+5,000 USDC
Contract pricethe most you can ever owe105,000 USDC

On a floating-rate lender like Aave, the same loan has no final price until you repay it.

02 · Linear accrual

The debt grows in a straight line and stops at that price.

Same amount every dayNo compoundingHard cap at the contract price
03 · When rates move

Saved on a $1M loan while floating rates hit 9% in 2024.

$44,174
$94,174floating $50,000Rayyan, 5% Jan 2024

Aave's floating USDC rate averaged 9.01% in 2024 and cost $94,174 on a $1M loan. Locked at 5% on Rayyan, the same loan cost $50,000.

04 · Ibra'

Repay early and the unused markup is forgiven.

You pay 101,250 USDC instead of 105,000, with no penalty and nothing to request.

05 · The pool

Depositors earn 85% of every markup.

Depositors fund the pool, and their share streams in daily as each loan's markup accrues.

Every loan shows its full cost before you sign.

This is what a borrower sees before signing.

You pledgeCollateral
WETHWBTCStaking tokens
You receive100,000 USDC
Most you can owe · 5.00% fixed, 360 days105,000 USDC
Sign contract
01 · Pledge

A collateral token

WETHWBTCStaking tokens
02 · Contract price

Fixed for 360 days

Principal plus a disclosed markup.

03 · Linear accrual

Capped, never compounds

The same amount accrues each day.

04 · Ibra'

Repay any day

Unused markup is forgiven on the spot.

Illustrative position.

Chains and neobanks that bring in a loan keep a third of the protocol's share.

Borrowers pay one fixed markup. Depositors receive 85% of it, and the protocol keeps 15%.

USDC deposits fixed-price loans markup, accruing daily 85% to depositors Depositorssupply USDC Rayyan poolfixed-pricemurabaha Borrowerspledge collateral Protocol 15% a third of it to the integrator ↓ USDC deposits ↑ 85% to depositors ↓ fixed-price loans ↑ markup, accruing daily Depositorssupply USDC Rayyan poolfixed-pricemurabaha Borrowerspledge collateral Protocol 15% a third of itto the integrator

A locked price cost $44,174 less than floating rates in 2024.

A fixed price caps the cost when rates rise. When rates fall, ibra' lets you repay early and borrow again at the lower price. Banks charge a premium for that protection.

$1M USDC · 360 days · 2024
Floating rate · Aave 2024, 9.01% average
$94,174
Rayyan · locked at 5%
$50,000

Aavescan 2024 average. Floating cost assumes continuous compounding.

$1,271

less even if rates never move from 5%

$37,500

of the cap forgiven by repaying on day 90

Built for three kinds of user.

One lending market, used three ways.

Borrowers

A cost you know on day one

Borrow USDC against a collateral token at a fixed price, and repay early with no penalty.

Depositors

85% of every markup

Fund the pool and earn as each loan's markup accrues, with no interest-bearing position.

Chains and neobanks

A lending layer you can offer

Integrate through the SDK and keep a third of the protocol's share on every loan you bring in.

Questions people ask first.

Longer answers are in the docs.

Is Rayyan Shariah-compliant?

It is built as murabaha: a price fixed and disclosed at signature, a cost that cannot compound, a known maximum, and forgiveness on early repayment. Formal certification comes from a Shariah board and fatwa, which come before mainnet.

Can I use it today?

On Arbitrum testnet, since July 2026. The contracts are unaudited, so there is no mainnet yet. Join the waitlist to hear the day it opens.

Is Rayyan only for Muslims?

No. It is a fixed-price loan, so anyone who wants a known cost can use it. The locked price caps your cost when rates rise, and ibra' lets you leave early when they fall. In 2024 that was worth $44,174 on a $1M loan.

What can I pledge?

Collateral tokens such as WETH and WBTC today, with staking tokens next.

The gate to halal DeFi

One email, on the day mainnet opens.