The cryptocurrency market is full of tokens that are both of great use and others that have no utility whatsoever. The former tokens or crypto are leading the charts of Coinmarketcap. Opposingly, the latter grade of tokens is usually short-lived and carry no intrinsic value and utility. Minebase is one of the few projects we have seen so far that require attention and we are about to learn why it is so important to the industry.
Minebase has developed an algorithm that governs the token supply and therefore alters the number of tokens in circulation based on the market behavior of the MBASE token. You can already find MBASE listed on the leading exchanges, operating and currently used as the utility token for transactions, staking and store of value. But where is the breakthrough you may ask!? It comes from the fact that you too can earn MBASE by making transaction on top blockchains and by walking with your phone in your pocket. Still, there is even more!
What is Minebase (MBASE)?
Minebase (MBASE) is an ERC-20 token with a total supply of 250 million. It’s released into circulation through Creative Token Production (CTP), a revolutionary energy-efficient algorithm that is controlled by a smart contract. CTP allows the supply of MBASE tokens through transaction fees on Etherscan, the top 20 decentralized exchanges (DEXs), and the Bitcoin network.
The token is issued by Minebase, a project that’s transforming Web3 with an innovative algorithm that increases circulation of MBASE crypto tokens without harming the environment. CTP — the environmentally-friendly algorithm that takes advantage of the transaction fees generated by global blockchain activity.
How it Works
The starting CTP price of MBASE is $6.50. This means that 1 MBASE token is created when the transaction fees in a wallet connected to Minebase hits $6.50. The entire token has to be created for the user to receive it. The creation of MBASE tokens continues as the fees accumulate. Users will receive these tokens regularly until the CTP price is $8,633 (the price at 12 months). After the first 12 months, MBASE tokens will be issued annually. The fees paid determine the value of the token.
CTP creates Minebase tokens through four methods:
- Period of time
- Automatic wallet addresses
- Personal wallet address
- Walk to earn
Here’s how you can create minebase tokens for free using these methods:
Period of Time
The period of time token generation method is a quick and easy way to create a Minebase token for free. It enables users to create 1 MBASE cryptocurrency in slightly over 24 hours after installing the app.
Minebase credits a user’s MBASE wallet with $0.26 immediately after app installation. Every hour, the price grows by $0.26 until it reaches the token creation price of $6.50 at the 25th hour. A code is then generated and is accessible on the user’s dashboard. To receive 1 MBASE token, they must input the code in the required field.
Automatic Wallet Addresses
This method allows users to create MBASE tokens with as many as 20 wallet addresses. Users can mint Minebase tokens with 1 wallet address if they have 10 MBASE tokens in their wallet. Once the token creation price hits $6.50, 1 MBASE token is created.
A new wallet address is automatically formed in 72 hours, replacing the previous one. If the former wallet has not accumulated $6.50 in fees, the amount will remain and will continue adding up in the new wallet till it reaches $6.50. Each wallet is charged separately to create MBASE tokens.
Below is the number of tokens you need to deposit to mint Minebase tokens with multiple wallet addresses.
- You need 10 MBASE tokens in every wallet to mint tokens with 1-5 wallet addresses.
- You require 20 MBASE tokens in each wallet to mint tokens with 6-10 wallet addresses.
- You should deposit 30 MBASE tokens to each wallet to create tokens with 11-15 wallet addresses.
- You must deposit 50 MBASE tokens to every wallet to create tokens with 16-20 wallet addresses.
In total, you require 550 MBASE tokens to mint tokens with 20 wallet addresses.
Personal Wallet Address
Besides automatic wallet addresses, you can generate MBASE tokens with your own wallet address. All you need to do is register it on Minebase and send some crypto to verify you’ve added a wallet address. For instance, if you want to add an ETH wallet address, deposit ether to the ETH Minebase wallet in your account. Minebase will verify the added wallet address in 48 hours.
The wallet address will start minting MBASE tokens through the transaction fees it generates from the transfer of coins. When the price gets to $6.50, 1 Minebase cryptocurrency is produced. This method does not require the depositing of MBASE tokens. Also, users can register a maximum of 5 wallet addresses. Each wallet address is charged independently to mint MBASE tokens.
Walk to Earn
Walk to earn is a CTP-powered token generation method that will be introduced in Q3 of 2023. Put simply, it means that users will be able to mint MBASE tokens with their own energy. To use this method, you will have to install the Minebase app and walk 6 kilometers (3.728 miles) to produce 1 MBASE token.
The price accumulates as follows:
- $0.00108 at 1 meter (0.00062 miles)
- $1.08333 at 1 kilometer (0.621 miles)
- $6.50000 at 6 kilometers (3.728 miles)
At $6.50, you will receive a code which you should enter in the respective field in your account to get 1 MBASE token. You will generate 1 Minebase token the faster you walk or jog. This method helps users stay healthy while earning free tokens.
Anyone can create Minebase tokens through the methods described above. By joining the project early, you will have the advantage of creating MBASE tokens at a lower price since the CTP is designed to make the creation price rise with time. Moreover, your chances of creating more MBASE tokens are higher now than later when the creation price climbs. So, don’t miss the chance to experience our revolutionary energy-efficient algorithm. Join MineBase today!