MonetaryCoin, a new startup, which is an interesting symbiosis of the blockchain technology and an economic science. The token sale was launched on July 10, 2018, and can be accessed via http://monetarycoin.io
Please Note: This is a Press Release
The MonetaryCoin founders decided to create a separate economic system and reduce money supply manipulation on a global scale. It is only the first step in the vision of algorithmic economy regulation. The scope of the project does not allow it to affect the economy globally but clearly illustrates that this kind of changes is possible in the future. It is an great example of the way blockchain technology can be used to improve the existing economic infrastructure.
The key features
Money Supply Depends On GDP
The MonetaryCoin token is based on the open Ethereum protocol ERC20 and designed as a supplemental currency. There are two types of tokens, MERO for EU and MCHI for China. Each of them is pegged to the region’s volume of economic activity. The number of tokens will depend on the country’s GDP level.
100% Of Tokens For Community
During the ICO, investors will be able to buy only 10% of the total number of tokens. The rest will be available for forging. This is another feature of the MonetaryCoin project — 100% of all tokens are available to the community. No token retaining – this way the founders chose to show the distribution fairness.
Proof-of-Stake Distribution Method
The total amount of tokens is finite and it is to be distributed by the Proof-of-Stake method. The use of Proof-of-Stake is the way to motivate users to participate in the forging process. A special app was deployed to help with the smart contract interaction: https://forging.mnetarycoin.io
Based on Novel winning economic theory
The key feature of MonetoryCoin is that the number of tokens available for forging depends on the GDP level. If a country’s GDP increases by 2.5%, the number of tokens goes up by 2.5% as well. However, when the GDP rate goes down, a mechanism, which is now in development, will create a special type of token — the M5 token. It also motivates users to be forgers even when the economy is having a hard time.
MonetaryCoin is the first project that offers an algorithmically controlled economic system encoded into the blockchain. The money supply depends on the real volume of the economic activity, are regulated by a computer, and have no state regulation. This is what makes MonetaryCoin exclusive. Homepage https://monetarycoin.org
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