Mu Continent — BTC Mining Vaults Beta Introduction
It has been 10 years since the concept of Bitcoin was proposed in 2008. In the context of the global epidemic and inflation, the value of BTC has been recognized by the world, while Ethereum has further improved the ecosystem in the development of decentralized finance, NFT, and meta-universe applications. Blockchain technology and the concept of decentralization have been recognized all over the world. At the same time, because the transparency and immutability of blockchain technology essentially protect people’s wealth, the US dollar economic system is experiencing the impact of the decentralized economic system. People believe more in the security of wealth brought about by the certainty of technology than in the lies of politicians. The endless printing of money by the US government is diluting people’s wealth. This behavior has been shaken by blockchain technology today.
We have seen the explosive growth of various lending and wealth management platforms in the field of decentralized finance (DeFi), and there have been well-known projects such as Safmoon, Pig, FEG, and so on. These projects rely on decentralized infrastructure to design very good economic models:
(1) Excellent decentralized ecosystem. The development of the DeFi project relies on decentralized infrastructure. The current availability of platforms such as Ethereum, Binance Smart Chain, and Matic provides sufficient support for the DeFi project.
(2) The deflationary macroeconomic model. The inflation model will continue to dilute wealth, while the deflation model will continue to increase wealth. The code-guaranteed deflation model provides theoretical support for deflationary DeFi projects.
(3) The wealth-making effect of successful people. People like Musk greatly enhanced the visibility of the project and quickly established a strong community consensus.
However, these projects did not solve the core problem that financial products have no value support. We can intuitively observe the serious problems caused by the lack of value support through the price trend charts of Safmoon, Pig, and FEG (similar to other projects). Once the project has no new investors, the value of the project will not rise. If community members lose confidence in the project and sell tokens, the price will continue to fall, the bubble will burst, and the project will collapse completely. In order to solve the above-mentioned core problem, the Mu project designed an economic model pegged to Bitcoin. This design is like a currency pegged to the US dollar, making it stable while using the DeFi mechanism to form sustainability.
(1) Safmoon price chart
(2) Pig price chart
(3) FEG price chart
Compared with Safmoon, Pig, FEG, etc. which directly burn all transaction taxes and only focus on token deflation without considering the sustainability of the project, 1/3 (33.333%) of each MU transaction tax is sent to the Mu vaults pool. The funds will be used to purchase BTC riggers to mine additional BTC, that is, use part of the transaction taxes directly destroyed by Safmoon, Pig, FEG, and other projects to continuously get BTC. This design enables the Mu project to use the value of BTC to obtain additional revenue. 50% of this revenue will be redistributed to MU holders, 40% of the revenue will be used for MU “buy-back & burn”, and 10% of the revenue will be used for the development of the Mu project. Here we want to emphasize that after investors invest in Safmoon, Pig, and FEG, they only get the tokens of these projects, and the design of Mu’s economic model makes a reasonable plan for the part of the transaction taxes that should be destroyed. Let us further discuss this design with the concept of traditional finance:
(1) 50% of the revenue will be redistributed to MU holders
When we invest in traditional financial wealth management products, financial institutions use our money for investment and distribute part of the profits to us (we will definitely take risks). In fact, we don’t know anything about the investment made by financial institutions, and Mu’s BTC mining product makes it clear that the investment product is BTC riggers. Thanks to the global consensus of BTC, no matter what the price of Bitcoin is, as long as you have MU tokens in your hand, you can always get 50% of the profit from BTC mining (extra profit), in simple terms, We can share the value of BTC by holding MU tokens.
(2) 40% of the revenue will be used for MU’s “buy-back & burn”
This design makes MU tokens rise steadily and continuously. Assuming that Mu’s users unconditionally support the project, they only buy but do not sell, and Mu’s community does not grow. In this case, 40% of the BTC mining rewards will continue to buy back and burn MU tokens, which will make the price of MU rise continuously. The rising price will definitely attract investors, which will further increase the price of MU. Since the Mu project has been in operation, the Mu project has purchased BTC riggers and started testing BTC mining products (the official website has shown the current real-time hashrate of BTC riggers). From a long-term perspective, even if holders sell MU after the price rises, the “buy-back & burn” mechanism can still make the price of MU tokens rise continuously.
(3) 10% of the revenue is used for the continuous development of the Mu project
The success of any project depends on the continuous development of the product, and the development of the project requires the support of manpower. 10% of the BTC mining rewards is used for part of the cost of the development team, which guarantees the funds for the development of the Mu project. It is worth noting that the acquisition of this fund is not obtained through the sale of MU tokens or external financing but by the benefits of BTC mining products. To put it simply, the Mu project is closely related to BTC, and the stability or growth of the BTC price will provide a strong guarantee for the development of Mu. So what happened to the BTC crash? This question is actually a false proposition. If BTC fails, then the entire industry is gone, and it is meaningless to discuss the Mu project. We have closely linked Mu with BTC because we believe that the development of BTC goes far beyond that.
In addition to the above-mentioned revolutionary innovation, other mechanisms of the Mu project also provide a reliable basis for project development:
(1) The total amount of MU is 210,000,000,000, without additional issuance
The total amount of MU tokens is 210,000,000,000. The code is open source (https://bscscan.com/address/0xce262761df57c72999146b7a6a752da03835db4a#code), and there is no possibility of additional issuance technically.
(2) Extreme deflation model
100,000,000,000 (47.619%) of tokens were burned when the project was launched (https://bscscan.com/tx/0x2ae241cf5b02c5362b0dbd6c438f1145976917019bd3b60a55264f23301e8585). The actual circulation when the project goes live is 110,000,000,000. Through the transaction burn and black hole mechanism, the current circulation is only 100686218223, which burns 52.05% of the tokens. That is to say, nearly 5% of the tokens have been burnt in 3 months. As the project continues to run, the burn ratio will further increase.
(3) Referral reward
1/12 (8.333%) of every buy order transaction tax is used for the referral reward. You can be the Advocate by sending the Referral 1,000 MU token. When the Referral converts, the advocate receives 10% of Referral’s every buy order transaction tax. Referral marketing is a tool used by various businesses and corporations across a wide variety of different industries to grow and build customer bases. Modern-day referral marketing now heavily relies on social media and the internet, allowing the scope of referrals to increase dramatically by reaching a far broader audience. Most recently, referral marketing has allowed companies such as PayPal, Dropbox, and Airbnb to grow exponentially with their personalized referral programs.
(4) Best promoter reward
1/12 (8.333%) of every transaction tax is sent to Advocate Reward Pool. Advocate Reward Pool funds will be evenly distributed to the top 21 advocates. “Top 21” means the total trading volume (buy order — sell order) of advocates’ Referrals every 7 days. It is a strategy to encourage existing community members to help promote MU Continent. The best 21 promoters will get the reward from the Advocate Reward Pool. One-level Referral marketing with a reward pool helps build community.
(5) FOMO reward
1/6 (16.667%) of every transaction tax is sent to the FOMO Pool. If there is no transaction within 120 minutes, 10% of the FOMO Pool funds will be sent to the last valid buyer of the previous FOMO winner who buys no less than 100,000 MU. The design of this mechanism considers two very important factors:
* Improve community fault tolerance. In the initial stage of the project development, because few users know/understand the MU project and buy orders are very limited, then community members will try their luck and keep trying to buy 100,000 MU; As the community grows, the value of MU is recognized by more and more people, the price of MU will become higher and higher, especially with MU’s MEME mechanism. The cost of buying 100,000 MU may be US$20 or even US$200. At this time, maybe community members are not willing to try to buy 100,000 MU to join the FOMO bonus game. At this time, the competition of the FOMO reward will decline, and then it is very likely that there will be winners. This “Gambling and Playing Chess” process will always run through the MU project, and the MU project will have continuous attention and transaction volume.
* Price turbo. When community members participate in “Gambling and Playing Chess”, every transaction will make passive contributions to the LP pool, vaults pool, FOMO pool, and burn. We believe that this model will further strengthen all the features of the Mu project, for example, the income of RFI Static Rewards.
The Mu project has all the known mechanisms such as LP Acquisition, RFI Static Rewards, Black Hole, etc. The specific information can be viewed at https://www.mucoin.us/features/. Our community has also analyzed these mechanisms, which can be found at https://mucommunity.medium.com/mu-continent-mechanism-analysis-be09854abfd
We believe that the Mu project will be the final form of DeFi projects such as Safmoon, Pig, and FEG. We have introduced sustainability solutions (pegged to BTC) on the basis of these projects, which gives the Mu project a huge potential. The development of the Mu project is inseparable from the efforts of the R&D team and the support of the community. Let us work together for the success of the Mu project.
Next plan:
(1) When the BTC mining hashrate reaches 3200TH/s and the holders reaches 20,000, we will launch staking product. Users who stake MU tokens can share 50% of the BTC mining profit.
(2) MuSwap, a decentralized exchange, is tentatively scheduled to go online when the holders reaches 100,000.
(3) NFT function, is tentatively scheduled to go online when the holders reaches 200,000.
(4) The game, Metaverse, is tentatively scheduled to go online when the holders reaches 400,000.
(5) Research and develop a BTC mining rigger trading platform based on the NFT mechanism.
(6) post-quantum cryptography.
Twitter: https://twitter.com/MUConFinTech
Telegram: https://t.me/mucontinent
Github: https://github.com/MuConFinTech
YouTube：https://www.youtube.com/channel/UCbXy0g1sIMP2ZEvfeloF1dw
Bitcointalk: https://bitcointalk.org/index.php?topic=5348015.msg57403953#msg57403953
Coingecko： https://www.coingecko.com/en/coins/mu-continent
CoinMarketCap： https://coinmarketcap.com/currencies/mu-continent/
Bscscan: https://bscscan.com/token/0xce262761df57c72999146b7a6a752da03835db4a
