Bitcoin Press Release: Minexcoin celebrate their third week of being officially exchange listed, and announce a 900% increase in price over that time frame, seeing recognition from CoinMarketCap as one of their “Biggest Gainers”
November 22nd , Hong Kong, China – About three weeks ago Minexcoin was listed on exchanges and presented a Memorandum of the autonomous algorithm for volatility regulation, known as MinexBank. We took a second look at this project to see how’s it going.
In a matter of weeks, MNX managed to achieve a 9-fold increase in price, and got into the “Biggest Gainers” list on CoinMarketCap, and strengthened at the price of $11. Now, as developers explain, the algorithm is being calibrated and the control over volatility will be ensured after reaching a price of $20 per coin. For those who are looking for mid- and long-term investments, it would be useful to read the Memorandum again.
for the period of 2017-2018
Dear members of Minexcoin community and the cryptomarket participants.
While entirely recognizing our responsibility to reach the main goal of Minexcoin project, namely, securing MNX with the status of reserve currency on cryptomarket, we at MINEXBANK would like to address you with this Memorandum.
From the moment of starting MNX trade at the stock exchanges on November 1, 2017, MINEXBANK is going to consistently process complex financial policy which aims to ensure the following macroeconomic indicators:
The total volume of preliminary MNX emission is 5 500 000 MNX. MINEXBANK’s reserve is 1 500 000 MNX out of the above-mentioned amount. The developers’ compensation is 1 000 000 MNX.
Developers have decided not to bring their coins to the market until the end of 2017. Hence the net money supply is 3 000 000 MNX while MINEXBANK reserve is 50% out of the net money supply. This testifies high level of the Bank procedures’ durability provided to stabilize the MNX market.
With the increase of the MNX volume in the market due to additional emission (work and miners’ reward) a gradual replenishment and increase of the reserves amount will be required. This growth will be ensured by a progressive percentage of deductions in favor of MINEXBANK for each unit unraveled by the miners:
We’d like to pay special attention of the MNX market participants to the following circumstance. MINEXBANK’s activity will be aimed at keeping the MNX quotes to USD within the 5% range of fluctuations relative to the representing the estimated growth rate of 42,7% per annum from the rate of 20 USD/MNX.
MINEXBANK urges all market participants to refrain from making deals outside the 5% corridor of the exchange rate fluctuations in order to avoid possible financial losses.”
“Minex Systems Limited”, a Hong Kong registered company, specializes in the blockchain product development. The company offers solutions which include the best of both conventional financial system and cryptocurrency ecosystem, and works on the unified Minex Platform. To date, the flagship product is an autonomous algorithm for controlling the volatility of MinexCoin named MinexBank.
Visit the Minex Systems Website: https://minexsystems.com/
View the Memorandum:https://minexbank.com/index.php?r=site%2Fmemorandum
Disclaimer: Minex Systems is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. ROI cannot be guaranteed. Readers are urged to make investment decisions at their own discretion and the company will not be responsible for the outcome of such decisions. This press release may contain certain forward-looking statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations they are based on will occur.