Boris Shulyaev, CEO of Minexcoin, announced important monetary policy changes. Find out what awaits for the project in the short run.
Minexcoin, a payment system platform which is a part of MinexSystems, released communique by its CEO Boris Shulyaev. It contains information about a new phase of MNX development and сurrent market situation of the project. In particular, Boris mentioned that MNX project has successfully met all planned milestones for now and starts the adaptation of its parking rates. The interests paid to MNX holders will be equal to coin’s base rate of 70% per annum. You can get acquainted with the whole text below:
May 1st marketed six months since Minexcoin has appeared on the market. This is undoubtedly very important milestone that helps us to evaluate project results and the quality of the work we’ve done, and of course, to set ourselves new goals. Time has shown that the MinexBank mechanism operates according to the planned parameters and crypto-society, indeed, demonstrates interest to the Minexcoin. Here are just a few examples:
Minexcoin previously completed all the goals it set out in its first Memorandum and has achieved the following macroeconomic indicators:
The company is entering a new phase of MNX development. As you may have noticed from the figures above, today’s volume of parked coins is approaching 30% of the total number of all MNX in the market. For the team and you, dear community, it means two things.
According to the MNX development roadmap, meeting this target requires an adaptation of interest rates to the base annual rate(it is 70% at the current moment). Secondly, according to the basic economic principles, because of the excess of supply over demand, there is a disproportion arise. It puts pressure on the course of Minexcoin and hinders its further growth.
Based on these facts, MinexBank starts the process of adjusting interest rate policy. In 16 days after the publication of this message, the parking rates will be reduced to the base rate of 70% per annum envisaged by MinexBank Memorandum. The interest rates are as follows.
Half yearly 35%
Minexcoin want to remind the public that parking payments at the moment have reached 130 000 MNX per month. Such a volume of monthly increase in the monetary base negatively affects the exchange rate of MNX, that does not satisfy investors’ expectations. Reduction of parking payments and adaptation of interests to the base rate are aimed to achieve goals outlined in the second Memorandum, namely the sustainable planned growth of the MNX price of 84.88% per annum.
The company will ttake into account the fact that market might be affected by short-term negative trends after the implementation of new rates. Therefore, I’d like to focus that our team is completing work on mechanisms to neutralise such an impact. By the way, access to new exchanges is just one of them. The more detailed information you will get from our future publications.
Minexcoin are also aiming to conduct a completely open policy and to engage in dialogue every participant of the project. If you have any questions, our official channels are open to users 24 hours a day.
“Minex Systems Limited”, a Hong Kong registered company, specializes in blockchain product development. The company offers solutions which work on the unified MinexSystens ecosystem and include the best of both conventional financial and crypto worlds. To date, the company’s flagship products are Minexcoin cryptocurrency and MinexBank, an autonomous algorithm for controlling the volatility of the coin.
For more Information, visit the Minexcoin website at –
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Minexcoin on Medium – https://medium.com/minecoin-blog
Check out Minexcoin on Github – https://github.com/minexcoin/minexcoin
Find Minexcoin on Facebook – https://www.facebook.com/minexcoin
Contact Name: Alexey Marinich
Location: Kyiv, Ukraine
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