Greetings Phore community!
The Phore Team is very excited to share some additional information on our recent listing to the Masternode Index (MNI) hosted by Midas.Investments!
When listing coins to the index, Midas looks for coins of the highest caliber that include the following characteristics:
- History of developmental progress
- Long term stability
- Sustained price
- Professional core team
- Strong coin economics
The team is very pleased that Phore meets such a high bar and are ready to bring the entire industry to a new standard!
So, what is MNI?
The Masternode Index is a diversified investment of four Masternode Projects and Bitcoin. With the addition of Phore, the current allocation of funds is as follows:
- PHR: 20%
- DIVI: 20%
- ESBC: 20%
- MIDAS: 20%
- BTC: 20%
As the price of each asset fluctuates, coins that gain in value are sold and profits buy the dips on coins that decline in price. This rebalancing occurs every Friday. We’re extremely proud to be chosen out of the hundreds of Masternode projects in this space!
What does this mean for PHR?
Since its initial launch earlier this year, the Masternode Index has amassed a whopping 41BTC of value. At the time of writing, the price of Bitcoin is $11,120, which brings the total value of AUM (Assets Under Management) for the MNI to $455,920. With the current split, that means that listing PHR to the MNI will bring nearly $100,000 in new money into the project.
Constant buy support?
Since $455k of assets will be constantly rebalancing, and new money is constantly being added to the MNI as it grows in popularity, this means that there will almost always be fresh buy support for PHR. It’s impossible for this not to have an impact on the valuation. Take a look at the impact of the MNI on existing projects:
From 04/22 when the MNI launched to present, DIVI went into a massive bull run, rising from less than $.01 per coin to over $.07. While there were undoubtedly many factors that caused this, listing on the MNI was certainly a catalyst. We cannot guarantee any results, but new money and constant buy support will certainly aid in stabilizing the value of PHR.
Another added benefit of listing in the MNI is that holding PHR itself becomes a diversified investment. The rebalancing mechanism in the MNI effectively means that PHR can bootstrap the success of other projects. For example, if DIVI continues its bull run and outperforms PHR, DIVI coins will be sold and PHR will be bought.
How You Can Get Involved
Being a part of the MNI indirectly benefits all Phore holders for the reasons described, but if you would like to invest in the MNI yourself, here’s what you need to do.
- Head over to Midas.Investments and make an account. Google or Discord accounts can be used with the platform.
- Open up the MNI share card and click the “Invest” button. An address will generate. This is a BTC address.
- Send BTC to the address, and your share will be credited to you; (sometimes it can take a few confirmations).
BTC payouts (from Masternode rewards) are paid out to your account’s Bitcoin wallet once per week, usually on Mondays. Funds can be withdrawn from the MNI share card at any time.
If you have any questions, feel free to reach out to Midas support, or anyone on the Phore team!