UNION CRYPTO | Liquidity PlatformUNION CRYPTO formerly known as HO CHI MINH COIN
The basis behind this project is to create a platform that allows for easier convert of low cap altcoins to fiat currency via a prepaid card. UNION CRYPTO will be the new brand name of MINH coin and will later fork to a new blockchain. We chose to 'takeover' an unused blockchain with an exchange listing vs creating one from scratch for this project. This entire project is community funded with the assistance of the ability to market and utilize the name brand of UNION Crypto service provider partners.
Common issues faced by low cap altcoinsA common problem with small cap crypto currencies is their lack of both liquidity and direct access to fiat markets. This prevents the direct usage of these crypto currencies in specific use case scenario?s. It may also contribute to an eventual ?death? due to the lack of interest and therefore the diminishing value which is a direct reaction of illiquid markets.
This lack of liquidity prevents banks and large exchanges who make fiat gateways work and provide services for coins such as Bitcoin, Bitcoin Cash, Ethereum and Ripple from even considering these small cap crypto currencies due to the high risk of losing money. This is also a concern of outside merchants who may seek to begin accepting crypto but have concerns about getting the correct value for the products they sell.
The Union solutionThe UNION Platform aims to provide users small cap crypto currencies and tokens with a service, acting as a market maker and a validation witness to bridge a gap between USD markets and Altcoins To do this UNION will test its service with the B Money Prepaid Mastercard, a cryptocurrency prepaid card allowing users to simply deposit Bitcoin which will automatically convert to fiat currency and load onto the card. More information can be found at
https://bmoney.io .
The UNION platform will accept altcoins that have limited access to fiat markets and considerably less volume than the top 20 ranked crypto currencies by market cap.
How does it work?
The service will work by accepting deposits of low cap altcoin and tokens and forwards the appropriate large cap crypto currency accepted by the card merchant. The large cap crypto currency will come from a platform liquidity fund that will be funded by both UNION Crypto and platform users wishing to earn a portion of fees accumulated as transactions occur.
The rate of exchange of the deposited low cap altcoin or token is determined by a mean average across the coins most reputable markets, up to 5.
UNION Crypto itself will be used for three main purposes on the platform. First, it will be used to pay all service fees by ?users? of the platform. These are individuals interested in loading their prepaid card with the altcoin or token the platform accepts. Second, it will be rewarded to liquidity fund providers for helping to make the platform function. Third, and the most important, UNION Crypto will alleviate any risk of loss by the platform during transactions and exchanges by acting as a reserve fund on the transaction. This way, even a slight variation in price from when the platform receives a deposit to when those coins can be liquidated back to Bitcoin on an external market can easily be recovered through the UNION held by the platform.
Union - The CryptocurrencyUNION Crypto is also a peer to peer decentralized cryptocurrency that will act as the engine and reward of the platform services via its users. It features fast and secure transactions that is easy to use with low transaction fees. UNION Crypto is crypto designed to benefit every stake holder.
Current Specifications
TICKER: MINH
SOURCE:
https://bitbucket.org/yalta1945/minhBLOCK EXPLORER:
http://explorer.vietminh.info:3001ALGO: X11 POS only
CURRENT SUPPLY: 6,225,214.00
POS RATE: 8% YEARLY
MAXIMUM STAKE AGE: 9 DAYS
MINIMUM STAKE AGE: 12 HOURS
PORTS: RPC-8158 and P2P ? 8157
Current specifications will cap the total amount of coins at 28,000,000 million.
Wallets
Signature
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[font=rockwell][b][color=#333]▌[b] Small Cap Crypto Liquidity Platform[/b] ▌[/color][/url]
[font=rockwell][b][color=#333]▌ Instant deposit onto a Prepaid B Money Mastercard ▌[/color][/center]
