Hello! This is Daniil Lashin, the lead developer of Minter team.
Minter’s latest test network has already seen over 200 000 blocks generated, and not a single problem has surfaced. This is the time to launch the main network! The blockchain of Cosmos — which uses the same engine as Minter — has successfully gone live and enabled transfers. Since the time of the initial coin offering, the project’s native digital coin’s price has skyrocketed 30 times!
Minter Mainnet
The mainnet starts on May 15, 2019, at 15:05 UTC.
The deadline for submitting your address for receiving BIP is May 10, 2019, 10:00 UTC.
The how-to article is available at https://minter.link/guideline.
On the road to mainnet, there are several important events ahead:
- On May 10, 2019, at 10:00 UTC, we will disable the feature that allows you to ask other participants to assign their BIP balances to you via the Early Access Dashboard. We will also disable the option to submit a mainnet address and release the final Genesis file with all addresses and balances on the same day.
- Complaints regarding the contents of the Genesis file will be accepted up until May 12, 2019, 10:00 UTC. After that, it will be finalized.
- On May 12, 2019, at 11:00 UTC, we will run the final testnet with the finalized Genesis file.
Voting for the Price of BIP
While we all wait for the start of the main network, there is still one important thing to settle. It is the initial price of BIP. Let me remind you that it is this price that will be used for buying and selling BIP through the Validators’ Bank. After the main network goes live, the price of BIP will change by a maximum of 1% in either direction on a regular 24-hour basis.
The coin’s price will be denominated in USD.
Voting for the initial price of BIP will occur in the next testnet. Before it starts, we will once again notify all of you about the importance of voting. The process will last through blocks 1 to 50 000. To vote, you will need to send a transaction with any sum to the address Mx00000000000000000000000000000000000000A1 before the block height reaches 50 000. In a transaction message, you will have to indicate the price that you vote for — e.g., 0.5:
You can set any price instead of 0.5; the value can be as low as 0.01 and as high as 1. On block 50 000, all votes will be counted. The weight of a particular vote will be determined by the number of coins in stakes and address balances (as of block 50 000).
For example,
Address #1 with 100 BIP in balance and stakes votes for the price of $1,
Address #2 with 50 BIP in balance and stakes votes for the price of $0.1,
Initial price of BIP = 1*(100/150)+0.1*(50/150) = $0.7.
Before you vote, we suggest that you discuss the price in chats so that you could make an informed decision that would best fit the interest of market participants.
