MITHRIL Tokenomics - How it works
We have been working quite hard over the last month, and our first premium B2B Hive as a service product has been released (still free for limited time to those HIVE users willing to give it a try!)
Over the next few weeks we will be "soft launching" our MITHRIL token, and so before anyone asks, it is important that we layout what we are trying to do and how it works.
Read more to be informed.
The world has already changed, they just don't know it yet. We are just charging the battery. - Eco the Exploiter Wizard
MITHRIL = HIVE
To stake MITHRIL, users send HIVE to mithril.destiny with their UUID memo line, just like on an exchange. This can also be done seamlessly through TheCrazyGM Profile Page for users that are logged in.
MITHRIL has been reserved on Hive-Engine but none have been minted yet.
Every MITHRIL token in circulation is backed up by AT LEAST 1 HIVE Power. So you might say that MITHRIL is designed to be "as good as HIVE" in any one moment.
And we are the Bank.
Mithril can be swapped for Gold, in our virtual liquidity pool. Currently the swaps are only enabled in one direction.
Deposit functionality is built (limited to 1 Hive at a time right now) and withdraw functionality is being built for later.
Why do I want gold?
Gold can be used on any one of our current or future premium services, in-game purchases, or other in app purchases.
The only spendable currency on thecrazygm.com will be gold.
Why did you make this so complicated?
We can now easily and legally sell "gold" for paypal, and thus any B2B service for paypal, stripe, cashapp etc. This is all.
TL;DR:
MITHRIL is not, and will never be, a "moon token" but a "bank token" and you shouldn't buy it unless you "need it", or want it for some other reason, reasons which at this time only include a Private Encrypted HIVE-powered Mailbox.
So don't get freaked out, it's not even the most interesting thing I did this week, and though we put in a lot of time now, this is mostly a "for later" thing that I need to make an "official post" about.
As always, reach out to me anytime, request tools and features for HIVE, vote our HIVE witness and:
Interesting project, I will wait for more updates.
!BBH
!BEER
Im super jealous of your wallet right now jajajaja
View or trade
BEER.Hey @ecoinstant, here is a little bit of
BEERfrom @edgerik for you. Enjoy it!Learn how to earn FREE BEER each day by staking your
BEER.Nice, that Mithril is backed by staked Hive power :)
!BBH
Sound as an interesting concept. I’m waiting for the official post to get more details on this :)
!BBH
We are just getting started! But always willing to collaborate with a top hive-engine witness!
🫡
Fascinating concept, eyes on. What is "UUID memo line"? Can mithril be purchased directly through hive-engine?
!BBH
We will have it available on hive-engine, just not yet.
We made wallet ids, which show on the site when you log in. On our site, Hive account is not the " unique user identification" variable.
Hi, @ironshield,
This post has been voted on by @darkcloaks because you are an active member of the Darkcloaks gaming community.
Get started with Darkcloaks today, and follow us on Inleo for the latest updates.
Lots of immediate, related questions follow from my reading of this post, @ecoinstant, just shortly after publishing my latest on the One Bitcoin Club (OBC) UI, over which I have interacted with you, in the past:
I could ask more, but that's enough. I am glad to follow you and your team's work on this, as it sounds like it has very interesting prospects for the future.
P.S. I hope related questions like this are deemed acceptable. If not, feel free to straighten me out, as I will not be offended.
Let me start at the bottom and work my way up:
to your post script - I personally prefer any and all questions to the alternatives, awkward silence or belligerent assertions.
re: peakd - I will soon be publishing an interview I did with jarvie - peakd is not open source, and have never recieved funding. @peak.open has received funding, and we have worked with a few of their releases including sting chat, and the hivehub governance api for our dhf viewer.
To OBC, they are using an open source "breakaway community" front end, released by @ecency - which is more suited to their needs as a community. Our recent front end release is not a community - its a "show less" front end for users to display their (or other's) content in certain ways, that they control. I do look forward to working more with these repos and ideas tho - in the future, including the SkateHive release mentioned by @mengao. The fact is - there is a lot that HIVE can do!
I want to make sure there are easy tools to do many things, and
Okay, @ecoinstant. Thank you for both the confirmation my questions are not out of line and for the clarifications and explanations you have provided in answering them! 🤝