To show the true value of a cryptocurrency, creating a mechanism by which anyone can easily make payments is necessary. If more of a cryptocurrency can be obtained and the value of the cryptocurrency rises when the currency is spent, the number of users will increase and create one large community. If the value of the currency itself semi-permanently rises, the frequency with which people spend the currency will proportionally increase. This loop is the underlying mechanism of creating an economic zone on the axis of a cryptocurrency.
The currency called mine materializes this mechanism, which we call the mine economic zone. We firmly believe that only mine and the mine economic zone can realize the vision of creating a world where cryptocurrencies are widely used, which we seek, and lead people to richer lives.
Its basic element is to construct a vast mining farm with funds raised through an initial coin offering (ICO) and daily distribute the cryptocurrency that can be obtained through mining according to the number of mines held. In addition, the value of the currency constantly rises because reinvestment in the mining farm is automatically repeated. This is a mechanism that keeps raising the value as the mine is spent, which is a big difference from other cryptocurrencies and is what we call the mine economic zone.
By reinvesting the mining profits, we would want to see an infinite loop of this investment cycle put in motion, transactions accelerating reinvestments, and the practice of mining becoming widespread in the real world with the MoT network. We believe this will allow for the creation of a sustainable ecosystem that is the mine economic zone. In order to achieve that goal, it is essential to combine the following four elements: operations of the mining farms, which ensures that the mine token remains valuable; mine wallet, which serves as a bank within the mine economic zone; mine debit cards, which are used as a means of transaction; and MoT, which allows for wealth creation in the real world. We believe that the mine economic zone will allow us to leverage the practical and useful aspects of cryptocurrencies and make our lives much better and fulfilled by making it possible for us to freely buy and share things. Our ultimate goal is to create a cryptocurrency whose utilities can contribute to our society in such a manner as described above and build mine economic zones, which then can function as independent and vibrant communities.
While a typical ICO project will distribute some of the issued tokens to the issuer or their stakeholders, our project will allocate 100% of the issued tokens to the token sale participants.The reason for this arrangement is that we believe allocating free tokens to the issuer is unfair given the nature of our project, which is about investing in the mining farms. Consequently, we as the issuer will also participate in the token sale under the same conditions required for general participants. We plan to purchase $5 million worth of tokens. Note that, while there is no limit to the total amount of the mine tokens issued, the token’s issuance after the token sale will be implemented with the Proof of Use (usage of the debit card) mechanism only, ensuring that the value of mine tokens will not be reduced by the increased token supply.