[PRESS RELEASE – Kingstown, St Vincent and the Grenadines, January 10th, 2024]
MNT, the proprietary token of Minutes Network is a groundbreaking initiative that democratises the international minutes market and converts Minutes Network’s net revenues into MNTs and distributes them to network participants as rewards.
Rewarding Mintech, Stakers, and Users.
Three specific groups are rewarded for their contribution to Minutes Network’s operational performance and expansion.
Mintech, the creative innovation hub of Minutes Network receives 15% of the total rewards to support innovation and service development. With Minutes Network working to expand from international voice calling, to domestic calls and SMS services, there is an intensive development roadmap to execute against.
Minutes Network Switch and Validation Node stakers will share from a pool of 60% of all rewards subject to an algorithmic, deflationary burn formula. The only way to secure these nodes is by buying and staking MNTs. There are 500 Switch Nodes available costing 50,000 MNT each and 2,500 Validation Nodes costing 10,000 MNTs. The nodes are essential as they provide the capacity and security to allow Minutes Network to operate and grow without service interruption.
Uniquely amongst telecommunications service providers, 25% of the redistributed tokens are shared amongst network users, callers and callees. Each user’s phone number will be linked to its own custodial wallet accessed through the MNT token portal. To ensure token utility, users can use the token rewards to purchase the lowest-cost international minutes available through the MNT integrated dialer.
Houssam Berry, Head of MNT token, expressed his enthusiasm, stating, “We are thrilled to bring tokenisation to telecommunications and being able to share value with all those who add value to Minutes Network. To our knowledge, no other telecommunications business has ever been able to do this. It is only possible because of our decision to leverage blockchain technologies within our solution.
Buy-back, burn and redistribute
“As a limited supply token and in-built deflationary mechanisms and continuous buy-backs and redistribution, we think the MNT token is a very special proposition.” Having recently opened the MNT private sale, targeting high net-worth individuals. Berry adds, “The interest and demand in the private sale is surpassing our expectations, and we now expect the close much earlier than we initially anticipated.”
About Minutes Network Token (MNT)
MNT is a limited supply utility token (500 million). It is the rewarding mechanism of Minutes Network. Minutes Network Token LLC is registered in St. Vincent & the Grenadines.
For more information, please visit minutesnetworktoken.io
This press release is for informational purposes only
Minutes Network Token LLC