Re: [ANN] Minter. The Internet of Money (TON & Libra will be integrated)
I have been watching Minter project for a long time, but only recently I decided to study in detail all the features of this platform.
What do I want to say?...
This is very interesting and promising, but it is clear to the naked eye that the project is only on the way to its formation, probably will not be more than one year, when Minter will work in full force...I hope
My question is: what are the advantages of this project over similar "giants" (Tron, Ether, etc.)?
What do I want to say?...
This is very interesting and promising, but it is clear to the naked eye that the project is only on the way to its formation, probably will not be more than one year, when Minter will work in full force...I hope
My question is: what are the advantages of this project over similar "giants" (Tron, Ether, etc.)?
The first thing that caught my view was that when you create Custom Coin, it have collateral from the very beginning.
Hence to that it have value and tradable right away.
Compare that with ERC20 tokens on Ether or on TRON, which have no value.
Second thing when you do airdrop of your Dapp ERC20 token your user still can't use it because they need to put some Ethers on wallet to pay gas fee.
In minter you can make airdrop of your custom coin and user can pay fee with your custom coin also, because it already have value.
For me looks like Eugene and Daniil researched most common problems of top public blockchain, solved them and created Minter.
If there is collateral in creating the custom coin but the creation of coin is an easy peasy task, would the possibility of turning it out as crap coin would be low or the same?
Or there is really no guarantee in this crypto business regarding the outcome of the projects because it depends on the team working behind it?
Would this platform help minimize or lessen at least those scammy projects to proliferate in this business?
I think that on any blockchain someone can issue a scam coin. And the investor should always analyze the project and the team that issued the coin.
However, the good news is that Minter really made a decision that would help mark fraudulent addresses on the network. Here's how it will work:
Quote
We created the SCAM coin. In the upcoming week, we will distribute it among top validators who will then be able to mark malicious addresses at their own discretion. The addresses of validators themselves will not possess the mark (a lifetime whitelist); they will just act as storage for the coin. Over time, the top 100 delegators will also receive #SCAM to be further transferred to the actors engaged in wrongdoing.
The coin does not have any value, and votes flow only in two directions: Team address -> Validator/Delegator -> Scammer. This means that any address that will get SCAM from validators and top delegators will be automatically added to the blacklist to be shared with all Liquidity Providers.
SCAM can be sent in any amount, and its weight depends exclusively on the share of the validator or stake of the delegator. Meaning if someone flags your address but their stake is insignificant, the trust to such a reaction will be close to zero. And vice versa: 0.01 SCAM from the BTCSecure-level validator can put operations of a particular address to an end.
We want to stress the fact that the network itself does not limit the actions of the addresses. What it does, though, is highly recommend that the community does not cooperate with a given actor.
Those who thought we had the Wild West here have certainly set their time machine for a wrong period.
If you remember, we initially had an idea to label illicit addresses with KARMA, but we eventually decided to introduce a specific coin for straightforward scams. With it, no one will make a mistake spotting such an account.
The coin does not have any value, and votes flow only in two directions: Team address -> Validator/Delegator -> Scammer. This means that any address that will get SCAM from validators and top delegators will be automatically added to the blacklist to be shared with all Liquidity Providers.
SCAM can be sent in any amount, and its weight depends exclusively on the share of the validator or stake of the delegator. Meaning if someone flags your address but their stake is insignificant, the trust to such a reaction will be close to zero. And vice versa: 0.01 SCAM from the BTCSecure-level validator can put operations of a particular address to an end.
We want to stress the fact that the network itself does not limit the actions of the addresses. What it does, though, is highly recommend that the community does not cooperate with a given actor.
Those who thought we had the Wild West here have certainly set their time machine for a wrong period.
If you remember, we initially had an idea to label illicit addresses with KARMA, but we eventually decided to introduce a specific coin for straightforward scams. With it, no one will make a mistake spotting such an account.
Source: https://t.me/MinterTeam/152
Initial Minter Offering
Many of us have felt FOMO, or “fear of missing out,” after the launch of a new coin. Sometimes, what a new asset brings is not positive emotions but rather a disappointment: whales stock up while speculators dump in their pursuit of quick money.
Organized by validators—the acknowledged pillars of our community—IMOs will solve a problem for all of those people who would like to take part in the start of a new project in a quick and safe way.
IMOs will have three stages:
1. A project releases the documentation and reveals all details;
2. A validator publishes terms of participation and the address to which prospective users of the project will send their coins. Fundraising begins;
3. A validator issues a coin, later distributing it among all participants—including founders. Next step: trades are executed as usual, through the simple conversion via Wallet.
Validators can also act as a trusted third party, i.e., hold the founders’ coins until the latter have fulfilled some specific terms of participation.
In the first-ever IMO, the CAT validator (supported by Minter One) plans to launch its own coin under the ticker symbol CAT. Announcements will follow in the coming days.
If projects such as TIME and ZERO were to lead their own IMOs, more users would gain access to the coins on favorable terms. Besides, the scam issue is also almost resolved as validators would never risk their reputation.
By the way, CAT will be the first validator to operate in both Minter and Telegram Open Network.