On September 28, 2022, there was an important meeting – an AMA session with Alfred Hamzin, MinePlex marketing partner. During this session, many questions related to the MinePlex project and its future development were discussed.
AMA (“Ask Me Anything”) is a meeting format in which participants have the opportunity to ask questions to a specialist or expert and get direct and detailed answers from them. In Alfred Hamzin’s case, he told us about his role in the MinePlex project and shared some interesting information about the project itself.
Alfred Hamzin is an experienced marketing partner who has been promoting crypto projects for over 5 years. He said: “My name is Alfred Khamzin and I am a marketing partner at MinePlex. I’ve been working in cryptoproject marketing for over 5 years and I can say with confidence that MinePlex is one of the strongest projects I’ve met.”
People are passionate about the project and support it. We have 38 thousand active holders and 150k members in our community, and new ones are added every day. This can be seen in our explorer. We want the project to belong entirely to the community. And it’s already happened.
Next, a representative of the exchange asked to tell us more about the project MinePlex.
MinePlex Banking is a new generation mobile cryptobank with its own liquid token. The project is based on an exceptional balance of traditional financial systems, blockchain technology and mobile applications.
We have developed our own processing that allows you to make bank payments using cryptocurrencies (the product is called MinePlex.Money), we have issued our own debit cards, while we support both the issuance of physical cards and virtual ones, in addition to the debit cards, we have released solutions for POS-terminals and businesses that can accept payments in cryptocurrency.
In order to implement the project, we are developing our own unique blockchain with a Liquid Proof-of-Stake (LPoS) consensus algorithm, which combines such advantages as simplicity, operating speed and decentralisation.
He also discussed the role of the $PLEX token and his tokenomics
As you could know we have 2 tokens: Mine and Plex. Plex is
Limited issue liquid token. Due to the limited emission, its speed and size decrease over time.
Main destination for Plex is to be a payment tool. We use Plex in most of our products. Our own processing (part of Mineplex Money, debit cards, pos-terminals), MinePlex Marketplace, where people use plex to buy and sell products etc.
Maximum emission of plex is 414 720 000. Around 70% tokens in circulations now
The emission of PLEX tokens is divided into 4 stages. For each stage 25% of the total emission will be issued – 103 680 000 PLEX.
Right now we’re on the 3rd stage and the current block reward is 150 plex tokens. But next halving is coming
Also, asked a question about how users get rewards for blocks? Alfred answered it this way:
We call this process ‘Plexus’. To get the right to receive a share of the PLEX token, which is generated in each block, a Plexus of the Mine token must be done. Plexus can be compared to stacking. However, in the Liquid Proof-of-Stake (PoS) algorithm, the stake itself means the ownership of MINE tokens. Unlike Delegated Proof-of-Stake (PoS), the address itself is delegated, not tokens. So users always have access to their tokens and can use them or change the delegate (Plexus Pool) at any time. As for Mine token. It is our base token, a unit of the processing power of the MinePlex blockchain required to generate new tokens on the network. Means of payment for internal commissions. Not subject to volatility, face value – $ 0.01.
When asked about his strategy for attracting new users and investors to the platform and retaining them in the long term, Alfred answered as follows:
Let me explain our vision. We are working on solving a fundamental problem – the integration of the fiat and cryptocurrency world of finance. Without such projects as MinePlex, the development of the crypto industry would be impossible as my opinion. Therefore, our focus is primarily on creating products that people will use in everyday life, and this is the answer to both questions. For example. The user who received our debit card will certainly use Plex. The store owner who uses our terminal will also become our user and investor People see what products we create, see that we always do what we talk about, and therefore understand that the company will cost much more in the future In addition, tokenomics itself stimulates demand from new and old investors. After the next halving, the production per block will be halved. Users already understand that keeping plex is valuable
He also talked about MinePlex’s future plans, that in Q4 2022 there are plans to transfer Visa and Mastercard payment system to MinePlex processing (commission and cryptocurrency transactions without intermediaries), integration with Tezos and MinePlex development in directions: South Africa, Australia, India, Brazil and other Latin American countries
It’s worth mentioning that MinePlex is celebrating our birthday in Dubai on October 25. There will be a lot of activities and guests from all over the world: Vietnam, Germany, the Republic of Belarus, Dubai, Kyrgyzstan, etc.
To the last question “if you had to describe your project in one word, what word would it be? And why?” the representative received this answer:
I guess nothing describes our product better than the word ‘MinePlex’
The second part of the AMA asked questions that were selected from Bitget Global Twitter
It was mentioned that all services provided by traditional banks will soon be moved to blockchain, and MinePlex is one of the leaders of this transformation. Already, debit cards are being issued, there is its own processing, a Pos-terminal for offline payments has been launched, and this is just the beginning.
When asked about recent achievements, Alfred said that since last year significant improvements have been made in Mineplex Money, in particular in processing technology and implemented in a number of products such as debit cards, POS-terminals for offline trading. An undoubted achievement is considered to be the growth in the number of holders in their project, which currently stands at over 38,000 wallets and over 150,000 members of the MinePlex community. At the moment, they are working on the launch of Layer-2 blockchain, which will allow the project itself to scale even faster.
As for expanding markets, Alfred said that over the past six months, they have developed their international network very quickly. In Vietnam, for example, there were over 2,500 participants at their last community meeting. And you can see that their users from the Vietnamese community are also joining this AMA.
Regarding short-term plans, Alfred pointed out these points: MinePlex.Market update adding a B2B format: the ability to connect stores to sell their own items, payment transfer Visa and Mastercard (a system in MinePlex that handles fiat and cryptocurrency transactions without intermediaries), which were mentioned earlier. Integration with Tezos and the launch of its own NFT-platform.
In the Third Part of the AMA, Alfred selected the top 5 questions from users
Q: Could you tell us about your security strategies, audits and every measure that might protect your users funds and protect their privacy?
«We got audit from Certik. Let me add the links for certificates
Q: Do you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? can you share it with us?
«Thanks for this question! We’re really understand that for start people need to be educated first of how our platform works. I recommend to join our official telegram community and our admins will help you to explore all our tools such a staking Mine to getting rewards in Plex. Here is the link to our telegram group. But please be careful with other non-official groups. There are a lot of scammers.»
Q: Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?
«At first, we have 2 tokens as you could hear during the AMA – Mine and Plex
As for Mine token emission:The MINE token emission is 259 200 000 000. 10% of the emission (25 920 000 000 MINE) is a reserve fund for MinePlex Banking. These tokens will form an initial stake, which in turn will provide the starting price for a PLEX token. 20% of the emission (51 840 000 000 MINE) will be allocated for sale through your personal account. 70% of the emission (181 440 000 000 MINE) will be on a special smart contract that Exchanges PLEX tokens for MINE tokens inside blockchain.
The emission of PLEX tokens is divided into 4 stages. For each stage 25% of the total emission will be issued – 103 680 000 PLEX. Pools are getting Plex tokens as the result of Plexus process. Initial issue was 0 plex tokens.
Btw we have our own explorer where you could see detailed information about both tokens https://explorer.mineplex.io/
Q: Ambassadors play a very important role in every project. Do you have an ambassador program? If yes, how can I be one?
«Agree! Right now we’re preparing Ambassador program in our Collabor.place. Let me just give you short information about collabor.place since it’s very important part of our system as well. Collabor Place is a place that we have created for ourselves and our like-minded people. It’s community of people who earn money on the crypto and help each other. As i told before we pay a lot of resources to help our community to growth with us. So, if someone want to join to Ambassador program – stay tuned and join our telegram channel to be noticed once program will be launched»
Q: Without an working products any idea has zero value. We see many projects are on paper only and no product. So, kindly ensure us that your project is just not an idea and it’s already has an working products or practical usecases?
«I’m 100% agree that this is the most important thing. But we’re not startup who try to raise money for the idea of future. We have launched and revolutionized products already. I think the list of what we did is the best answer on this question:
We have developed our own processing that allows you to make bank payments using cryptocurrencies (the product is called MinePlex.Money), we have issued our own debit cards, while we support both the issuance of physical cards and virtual ones, in addition to the debit cards, we have released solutions for POS-terminals and businesses that can accept payments in cryptocurrency»