Mithril Ore Utility Token
Mithril Ore Token is a novel utility token for several unique reasons. It is first in the market to be backed by Ethereum. As a result, it will serve as the first ‘Casper’ mining pool to the digital token Market. ‘Casper’ is known as the ‘Proof of Stake’ or POS upgrade of the Ethereum blockchain. This particular upgrade goes green regarding energy usage, in which the Ethereum blockchain no longer uses energy-wasting ‘Proof of Work’ mining, but rather, more secure, energy-saving POS. In order for POS to be profitable for those with limited Ether, they will need to pool Ether with others. Mithril Ore is the first advanced staking pool to the market and will utilize this service in a crowd-friendly way. Buy Mithril (MITH) India with BuyBitcoin. Buy Mithril (MITH) India – BuyBitcoin.
One hundred percent of the Ethereum raised in the Mithril Ore token crowdsale will be placed into the Ether Pool – with none taken as profits. As an additional feature of the Mithril Ore token, all staking gains from ‘Casper’ will also be returned to the Mithril Ore Ether Pool for increased stake value; thereby, adding to the Mithril Ore token base value.
Mithril Ore tokens are limited in number and therefore scarce. In future years, we will offer the “blacksmith option,” which will be offered to consolidate Mithril Ore tokens, generating newly specialized item tokens. With consolidation, ‘blacksmith minted’ item tokens offer annual, limited time, limited edition tokens that connote concentrated values and privileges to token-holders.
What will Mithril do exactly?
Mithril will be integrated directly into new and existing social media networks to reward users and their operator for their contributions to the network. MITH will leverage blockchain technology to ensure that transactions are secure and safe for all participants. This technology revolves around decentralized data storage that can record transactions between parties in an efficient, trustless, and immutable manner.
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MITH will launch as a utility token on Lit, an innovative social media platform that addresses the needs of this current generation of users. This younger generation of social media users seeks a platform that addresses both their needs as early crypto adopters as well as their evolving needs in social media. Features such as instant messaging, story feeds, and discovery of new friends are all built into Lit for launch. Lit will enable Social Mining of MITH to reward users for contributing their personal content to the network and seamlessly integrate into major social networks to help users more easily monetize their personal content.
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Annual ‘Blacksmith’ Item Token
- Once per year, there is an annual consolidation (in exchange for ‘MORE’)
- Akin to exchanging 5 U.S. pennies for one U.S. nickel – Offers consolidation and concentration of tokens.
- Mithril Arrows (MROW) available in 2018 in exchange for 2 Mithril Ore. – Mithril Arrow will, intuitively, have twice the relative Ether value as ‘MORE’
- As a result of participation, ‘MROW’ will give privileged, reciprocal voting rights
- Responsibility of Mithril Ore community will gradually be delegated through these ‘item’ tokens. End Result – decentralized control of the community to the members most vested.
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