MITHRIL tokenomics Update - "How it Works" + PayPal integration

Way back in February I quietly released the Mithril Tokenomics, which I am happy to update today. We have been working on our "internal wallet", user database and backend api's for many months now, plus our unique toolbox continues to grow.

This includes a slowly but surely growing batch of "Premium Tools", which clients pay for in "gold". So far we have Whisperbox - Encrypted Messaging Mailbox, YourFrontEnd instances, and now new "Emerald" onboarding toolkit that we are starting to beta test as we roll it out.

What is Gold?

Gold is our "in-game" currency, or "in-app" currency you might say, and its directly tied to HIVE. In our previous announcement, we allowed HIVE to be converted 1:1 into MITHRIL - and MITHRIL swap price is equal to 100,000 Gold, gold is the 6th digit of HIVE tokens. Users could since February swap their MITHRIL to gold, and now with PayPal integration, clients can also purchase gold with PayPal and in the future we hope to eventually allow users to swap their Gold back into MITHRIL, with a dynamically priced swapping mechanism.

With regards to backing, @mithrildestiny has at least one Hive Power for each MITHRIL in circulation. We power it up, and "earn interest" on it, which is the way the blockchain works; it makes sense then that HIVE is also the lubricant that makes all our services work.

PayPal integration - and markup

Yes of course there is a markup on our PayPal integration, so "those in the know" who already have HIVE accounts can get ~70% off our services by converting HIVE to MITHRIL by pressing "Buy". Our Emerald account token sells for $4.99 but can be purchased with just 250,000 gold, or ~2.5 HIVE, a discount to the 3 HIVE current cost. More about our anonymous account creation service soon.

But today, we are talking about MITHRIL tokenomics, and that means talking about our most important "Gold" integration.

Daily Gold for MITHRIL holdings have been enabled:

If MITHRIL is a deposit slip for your HIVE held with us, then Gold is your "dividend payment" from us to use our services. We will always be working on more utility for Gold, but let's explore the ecosystem as is for today.

The uses for Gold are the following:

Tools such as Whisperbox - edge storage of all your encrypted memo messages sent and received over the years, and YFE: YourFrontEnd - a customizeable feed of HIVE content hosted for you, become valid reasons for buying MITHRIL, as some sort of life time subscription, where the "dividends" pay the hosting and you can "cash out" the deposit when you no longer require service.

Now, we still don't have the ability on the site to "cash out" MITHRIL, though that is on our roadmap - we may have to power down HIVE POWER to do "buy back", and especially at the beginning it could be tricky or at least time consuming - so this should not be seen as any sort of "light investment". Its explicitly for people who plan to use the Gold on the site and hopefully participate in the testing and development of a broader range of Hive-as-a-service elements and modules.

Unlimited months of YFE feed hosting for 334 HIVE deposit?

At 25 cent HIVE this seems like a pretty good deal to me, and unlocks the "hosting power of HIVE" - which I hope can rekindle some spirit among the community. We are looking to encourage our first clients to switch onto this "life time hosting plan" - we will keep you informed with how it goes! Every time there is a first, a new feature, a new user experience - its also called "beta testing".

We are iterating as we go along, along our roadmap, and out in the open on our blogs - follow along and Vote our @synergy.witness!

Freedom and Friendship