MinePlex is a digital ecosystem that creates next-generation payment solutions to expand blockchain’s potential and make cryptocurrency usage as easy as traditional currencies. The company uses unique CrossFi technology to fulfill this mission, combining traditional finance’s stability with blockchain technology’s transparency and security, which is covered in detail in the project’s whitepaper (PDF).
MinePlex Ecosystem
The ecosystem is built on its own blockchain, MinePlex, and includes the following:
- io: The project’s website with official updates and the latest news. It is also a unified entry point into the MinePlex ecosystem, allowing users to navigate all the products and services easily.
- MinePlex Wallet App: A mobile application for iOS and Android that allows users to create wallets and securely store and manage MPX, XFI, PLEX, BTC, and USDT tokens with just one click.
- Explorer: One of the central tools of both MinePlex blockchains, through which users can access all information about events happening in blockchains, track the price and turnover of the native tokens of the project, view all the transactions with them, plus general information about wallets, validators and pools.
- Money: Your personal account in MinePlex. It’s a cryptocurrency-based electronic payment system for transacting within the MinePlex ecosystem and Mineplex.Payment. It allows users to store and use major cryptocurrencies, PLEX and XFI tokens, order cards, and make offline and online payments.
- Payment: Crypto-based acquiring platform for businesses. It enables businesses to develop and accept cryptocurrency payments with ready-made pages for accepting online payments in fiat and cryptocurrencies, proprietary MinePlex POS terminals, tools for creating custom payment pages, and more.
- Finance: A next-generation financial mobile platform providing access to banking and financial services online in euros, pounds sterling, PLEX and XFI tokens on a mobile phone from anywhere. The updated app is scheduled for launch in July 2023.
- Marketplace: An online platform where users can buy goods directly with PLEX and XFI tokens. On top of that, an innovative product staking tool allows users to get goods for a part of their cost. The marketplace is currently on an update. Stay tuned!
- Place: Our partners are a community of people who earn on cryptocurrencies and investments — a space for intelligent, modern, free, and independent individuals.
Source: MinePlex Whitepaper PDF
Now, what kind of tokenomics binds such an extensive ecosystem together and keeps it running?
MinePlex Tokenomics
A comprehensive description of the MinePlex Tokenomics one can find in the corresponding PDF.
Now it’s an exciting time for the project because of MinePlex made a major update in 2023 by transitioning to a new architecture (here’s a roadmap PDF) with two brand new project-native coins: XMine (MPX) and CrossFi (XFI), where MPX is a non-volatile token with unlimited emission, and XFI is a limited emission volatile token.
Source: MinePlex Tokenomics PDF
* The maximum emission available for mining for MPX staking. After the second stage of the transition to MinePlex 2.0, an additional emission will be issued, and this indicator will be adjusted.
MPX Coin
The MPX token serves as the foundation of the MinePlex blockchain network, providing the computing power required to generate new XFI tokens through staking. It is also used for paying transaction fees.
MPX tokens can only be acquired with XFI (new token) and PLEX (token from the previous generation of MinePlex blockchain) at an exchange rate determined by their value on exchanges. XFI is scheduled to be listed on major cryptocurrency exchanges in May 2023. Currently, its price chan be checked in the MinePlex Explorer app. Meanwhile, the nominal value of MPX is fixed at 0.01 USDT, ensuring stability and immunity to market volatility.
MinePlex 2.0 blockchain runs on the Delegated Proof of Stake (DPoS) consensus protocol. So all the MPX holders can choose one of the 64 validators to delegate tokens and start mining XFI, generating a basic return from staking. After delegation, MPX coins are put into operation immediately. Each new block of XFI coins is distributed among the delegators in proportion to their MPX stakes.
For detailed information about the staking conditions and the MPX emission and distribution model, see MinePlex Tokenomics PDF.
XFI Coin
XFI is a utility token required to access all products and services within the MinePlex ecosystem, including Wallet, Finance, Payment, and Marketplace. It is also necessary for generating new MPX coins on the network through conversion.
XFI is a highly liquid asset, further enhancing its versatility within and outside the broad MinePlex ecosystem.
The emission of XFI coins is designed for 20 years and consists of five stages.
Again, for detailed information about the XFI emission model and formulas for the XFI initial exchange rate and basic return, see MinePlex Tokenomics PDF.
According to this document, during the XFI emission period, the company’s strategic focus will be on achieving an approximately 100% MPX return per year, or 7% per month. This will be supported by various marketing activities, technological advancements, product releases, partnerships, ecosystem expansion, and geographic expansion of MinePlex, which makes it even more interesting for early adopters. So make sure to DYOR and join the large and growing MinePlex community without delaying too much.