Minexcoin Report: Q1, Spring Harvest
Minexcoin detailed performance overview of the period from January to March 2018.
Hi, Community! The first quarter of 2018 made it essential that the bearish market isn’t just a consequence of Chinese New year, or crypto adverts ban by the main media, or whales machinations. We’ve just wrapped a big rally. The global crypto community had weeded out users behaving like “you-know-what-little-animal” and had prepared expecting conclusion of this correction. On the one hand, the ending of the hype is a misfortune for quick buck seekers. On the other hand, this is the best time for the teams to get back to work coming to grips with product development, notwithstanding the fact how many Xs their token/coin has or hasn’t made. We believe that times likes this will tell who is playing the long game and who is just following what’s trending. In this article we’re going through Minexcoin’s goals achieved to approve our dedication to the long game.
Product Development Retrospective
Firstly, in January we presented an upgraded Roadmap on 2018. In contrast to the last years’ version, we’ve changed some targets for our existing products and set new global goals for the MinexSystems. You can get acquainted with full version at this link. It should be mentioned that for the start of the spring we’ve achieved almost all goals that were set on the Q1 (like MinexBank for iOS or Atomic Swap technology). You’ll find more detailed info about them below.
Next big step is that MinexBank algorithm successfully passed its test-period. Now it demonstrates an adequate response to entirely different market scenarios, but the work on algo is still ongoing. The algorithm works in an autonomous mode with the manual verification of its solutions. Next goal is to make this product fully automated.
In January MNX team presented an application that helps to follow all MNX and MinexBank stats through Android Wear. It does not require authorisation. Just open it on the watch, and you’ll get the information about stats, Parking rates, price, trading volume or MNX rank in the top of cryptocurrencies in the real time.
Also, MinexBank debuted on the Apple devices. Similar to the Android version, MinexBank for iOS includes a wide range of features and allows to use MinexBank whenever and wherever. As we reported earlier, appearing in the App Store is a landmark event for us. The thing is, the app verification shows confidence in the project from Apple support and prove that MinexBank is transparent and clean on the law. The app is available for free.
And the latest top news, we introduced an Atomic Swap technology and had started its public testing. Despite the fact that teams usually focus exclusively on the development of their products, we try not only implement the best from the blockchain world but to contribute to the crypto-society either. Therefore, along with the core technology which allows making cross-chain exchanges between MNX and BTC (for the date of this release), we also released a user-friendly GUI making the Atomic Swap more accessible and understandable to average users. If you passed this news, you could find a detailed instruction how to change a test-coins with your friends via our interface here.
Market Situation
One of the most important first quarter achievements, which concerns MNX, became a release of our second Memorandum. All the goals stated in the first one was successfully reached. An updated version is focusing on strengthening coin’s position among other players of the crypto-market and setting goals on the period until September 2018. Recall that MinexBank set a new benchmark for the MNX to USD growth rate (based on the reached level of 20 USD/MNX) at a rate of no less than 84.88% per annum.
The full text of the second Memorandum available at this link.
Furthermore, we’ve made several powerful partnerships which opened up new opportunities to promote MNX among global crypto-society. For example, MNX is supported now by Coinomi (one of the oldest, most secure, and most popular multi-asset wallets in the world) and added to the Investing.com (one of the top investing resources). Also, MNX has listed at the CoinExchange with two pairs — MNX/BTC and MNX/DOGE.
And now let’s see traditional number indicators. On the end of the quarter they are:
· The number of MinexBank users is 9740.
· The number of Parkings rose to 13 256.
· 42 times MinexBank changed its parking rates in the Q1.
· MNX capitalization rose to 115,5M in March.
· Minexcoin rank in the first quarter was between 98 and 110 places at CoinMarketCap rating. We not only significantly improved our position compared to the last year but even fell several times into Biggest Gainers List while the biggest crypto-players were in the red zone.
And now let’s give the floor to our CEO Boris Shulyaev: “First of all, this Quarter has intimated our dedication to the project. We’ve demonstrated our willingness and ability to challenge complicated technologies such as Atomic Swap. And now, the team keeps working hard on other products declared at Roadmap. I’d like to highlight one more time that we create more than just a coin. To reach our main target — to become the global reserve cryptocurrency — we’re designing the complex finance infrastructure. Obviously, that such an ambition plans can’t be made in reality in a week or a month, furthermore even one year isn’t enough. This process is gradually carried out, step by step. Therefore, those who expect explosive growth or swift to-the-moon should reconsider MNX once again. That’s how we shall win!”
Further Plans
Our team keeps moving along Roadmap milestones. And the next release will be MinexWallet 2.0. Unfortunately, we had to move the deadline for this product from the first quarter due to some technical moments and final bug fixing. The development team is in the home stretch now. In the foreseeable future, we’re planning to introduce you a new design first and then released the final solution.
Moreover, we continue to develop the project’s infrastructure and work on strengthening our positions in the market. We’ve already outlined the scope of Q2 works, and (in addition to goals set in Roadmap) it includes:
- New listings.
- New partnerships.
- Some integrations with other projects. As a teaser, we can say that they’ll be not only from the blockchain sphere.
And last but not least, our community has grown by more than 3K people for last quarter, so thanks for your support and your help in spreading MNX ideas and philosophy around the world.
