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Newsletter
June 2022 — Our first newsletter starts on a note of comparison. As most people know by now the Terra blockchain token known as “Luna” crashed last week. This token was labeled as an Algorithmic Stable Coin”. This token was started by a very young Korean man named Mr. Do Kwon who was a graduate of Stanford University. Mr. Kwon set up a bizarre scheme where one coin would always be worth a US Dollar because another coin (called Luna) would be adjusted constantly to support the first coin.
Many experts said this scheme would not hold up in real market conditions. These experts were pointing out the flaws for months before the crash. The MRC CEO was in complete agreement with the assessment that Luna would eventually collapse. This was a ticking-time-bomb and was not a real Stable Coin.
The MRC Coin does not depend on any other coin. Nothing else (token) is inflated or deflated to support MRC. The mechanism is not complicated as MRC is backed by Gold and start-up equities. MRC is not “mined”. MRC will be sold thru an ICO (initial coin offering) trading on one of the biggest exchanges in the world. Every time a coin is sold, Gold will be purchased with 80% of the funds raised at a world-renowned mint that has been regularly audited. The remaining funds will be used for a community shark tank. This means that the Hindu community will benefit in the future as Hindu entrepreneurs will have a chance to get funding.
The MRC has no complex algorithms, side tokens, or tethering to another coin. The MRC coin can not go below the Gold reserve, otherwise it becomes a free arbitrage. The Luna episode was cause by many factors, the primary factor being the necessity to sell non-stable tokens in a crashing market. MRC is a new kind of structure that has not been seen before. It offers the security of Gold, giving it a floor of value, but not having a low ceiling because to the future equities. In short, MRC gives owners the best of all worlds where Luna gave owners the worst of all worlds.
Should you have any questions please leave us a note. Thanks, and we’re looking forward to a secure and exciting future!
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