Custom coin

From Minter Wiki


A custom coin is any coin created by a user of the Minter network with individual characteristics and application area. Unlike other blockchain networks, Minter network allows all its users to issue their crypto-asset – a coin.

Characteristics of any coin are set by the user when creating the coin, depending on the functional features of the product or the project, for which the coin is issued. The characteristics cannot be changed later; to do that, the coin has to be destroyed first, and then a new one created.

Users issuing their coins are coiners.

Custom coins can only be used within Minter network.

Minter network offers unlimited issuing of custom coins, a procedure called Perpetual Coin Offering (PCO). It is different from ICO in a way that the number of coins issued is not limited to the initial emission which allows balancing the price of the coin.

Custom coins can be used in several ways: loyalty program, as game currency, as community currency, for voting, as a reward.

Each coin in the Minter network follows the PCO principle and therefore has the following characteristics:

  • Fairness;
  • Clarity;
  • Predictability;
  • Liquidity;
  • Independence;
  • Limitlessness;
  • Perpetuity

Creating a custom coin

Main article Creating a coin

A custom coin can only be created using the Console.

800pxcenter To create a coin, go to the “Create coin” tab and enter the following parameters:

  • Constant Reserve Ratio (CRR). CRR represents the amount of reserve in BIP tokens that support the new coin. The higher CRR, the greater the reserve and lower the price volatility, and vice versa. CRR values vary from 10% to 100%.
  • The number of coins for the initial emission. The price of the new coins depends on this.
  • The amount of BIP tokens to be reserved. The amount will be debited from the creator’s wallet and set as the initial reserve of the coin.

When creating a custom coin, a network commission is charged, in amount depending on the number of symbols in the ticker:

  • 3 characters – 1,000,000 BIP;
  • 4 characters – 100,000 BIP;
  • 5 characters – 10,000 BIP;
  • 6 characters – 1000 BIP;
  • 7-10 characters – 100 BIP

It is necessary to have a sufficient amount of BIP on the balance to create the initial reserve of the coin, which cannot be lower than 1000 BIP.

Removing custom coin from the network

A coin is removed from the network in case if one of the following conditions is met:

  1. Reserve of the coin is less than 100 BIP;
  2. The number of coins in circulation is less than 1;
  3. Price of the coin is less than 0.0001 BIP

In that case, all the coins are to be removed, and the reserve is to be returned to the users.

Custom coin review services

There are currently three services for the review of Minter network custom coins.

MonsterNode service

The service is available at http://monsternode.net/dex/ and has two modes:

1. “Coin list”

InterchainZone Coin list.png

On this page is a full list of Minter network custom coins with the main parameters:

  • Coin – Ticker and description of the coin;
  • Price, BIP – current price in BIP;
  • Volume, BIP – the number of coins in circulation;
  • Change – price change in the last 24 hours;
  • Reserve Ratio, % – Constant Reserve Ratio (CRR);
  • Delegated, % – the number of delegated coins as a percentage of the total number of coins in circulation

2. “Trade” The page is available at https://monsternode.net/dex/trade or by pressing the “Trade” button on the “Coin list” page and then clicking on any coin in the list.

MonsterDex Trade.png

This page provides more complete information on each coin:

  • Ticker of the coin with its description in the upper part of the page;
  • Current price of the coin in BIP, as well as the maximum and minimum price in the last 24 hours;
  • Price change chart with time range selection parameters (the maximum range is 3 days) and settings for saving to a separate file;
  • Current coin parameters are presented below the chart:
    • Volume, 24H – volume of trade in the last 24 hours;
    • Cap. – total capitalization in BIP;
    • Volume – total number of the coins issued;
    • Delegated – the number of delegated coins as a percentage of the total number of coins in circulation;
  • Basic coin parameters set when creating the coin;
    • Created by – creator’s address;
    • Initial amount – initial number of the coins issued;
    • Initial reserve – initial reserve in BIP;
    • Reserve ratio – Constant Reserve Ratio (CRR) of the coin;
  • Trade history – the latest operations performed with the coin in the Minter network;
  • The coin selection panel with some filters on the right part of the page.

MonsterNode is the first service to display the price change chart. Unfortunately, the price change is only displayed for the last 3 days.

Interchain.Zone service

Interchain.Zone service by BTC.Secure team is available at https://minter.interchain.zone/ru/coin/

Interchain coins.png

One can find here a full list of Minter network custom coins with the main parameters:

  • Coin – Ticker of the coin;
  • % CRR – Constant Reserve Ratio (CRR) level;
  • Rate – current price in BIP;
  • BIP – current reserve in BIP
  • Volume – the number of coins in circulation;
  • Launch – the coin creation date;
  • Creator – creator’s address

In the right upper corner, there’s a search field for finding a coin by its ticker.

By clicking on any coin one opens the following window:

Interchain coin.png

The window is divided into several blocks: 1. Price change chart with time range selection parameters. This service allows displaying the price change starting from the first day of issuing the coin;

2. Block with general information:

  • Ticker;
  • Description of the coin;
  • Current price in BIP;
  • Current price of BIP per coin;
  • Reserve – current reserve in BIP;
  • Volume – total number of the coins issued;
  • Delegated – the number of delegated coins as a percentage of the total number of coins in circulation;
  • Delegation price – the price of the coin in BIP for calculating delegation rewards;
  • Initial reserve – initial reserve in BIP;
  • Initial amount – initial number of the coins issued;
  • Initial price – the price of the coin at the moment of issuing;
  • CRR of the coin;
  • Date of creation – coin creation date;
  • Creator – creator’s address;

3. “Exchange transactions” block with the latest operations with the coin in the Minter network;

4. “Delegators” block with the addresses of the wallets from which the coin was delegated;

5. “Delegated coins” block displays the list of Validators, to which the coin was delegated;

6. “Beneficium β” block displays the wallets that have profited or suffered a loss from operations performed with the coin.

Minterscan service

Minterscan service by Minterscan team is available at https://minterscan.net/coins

There’s only one mode: a list of coins with their main parameters.

Mscam coins.png

A full list of Minter network custom coins with their main parameters is displayed here:

  • Ticker and description of the coin;
  • Current price in BIP;
  • The number of coins in circulation;
  • The current reserve in BIP;
  • Change – price change in the last 24 hours;
  • The number of delegated coins as a percentage of the total number of coins in circulation;
  • Constant Reserve Ratio (CRR) of the coin