Maya Preferred 223 (MAPR), a stablecoin backed by precious metals assets, today announced that 21 million MAPRs have been transferred to escrow accounts. This amount, equal to the total number of Bitcoins, is intended as a way for Maya Preferred 223 to fully back Bitcoin with gold and silver.
The transfer process was successfully completed as the developers on the coin, U.K. Financial Ltd, had promised on June 26th, 2019. The purpose of this operation is to guarantee investors will see returns on their losses if the crypto market declines or Bitcoin weakens.The fact that MAPR is backing Bitcoin means transitively that BTC is now supported by silver and gold assets.
Before backing the flagship cryptocurrency, Maya Preferred 223 successfully supported the Digital Fantasy Sports (DFS) token, a utility gaming token based on Ethereum. It bought out over 51% control of DFS at $2.50 per token.
This is another sign that Maya Preferred is attempting to stabilize the cryptosphere. And this fact is all the more important when looking at Maya’s “forward split”. On August 1st, 2019 the price of the most expensive stablecoin in crypto history was reduced by 100 times – from $24,984.72 on July 31st, 2019 to $250 on August 1st, 2019, in an effort to make MAPR more affordable to investors. The coin can be bought for 0.025 BTC on the Cat.EX exchange at the moment.
This split provides end-users with a 1 million token buying opportunity that is set to last until September 30th.
James Dahlke, CEO and co-founder of Maya Preferred 223, had this to add:
“The split has attracted potential holders and given a boost to investor confidence. This is one of the unique things we are doing in the cryptosphere, alongside backing Bitcoin. The results will benefit BTC holders and, by extension, the entire crypto community. This will go down in history.”
The split encourages potential holders to acquire MAPR on special terms. Holders who already have MAPR, will see the number of their assets increase x100 for every individual coin on their Cat.EX accounts, including partial tokens. The dollar value of their holdings will remain the same.
Maya Preferred 223 (MAPR), developed by U.K. Financial Ltd., is a stablecoin backed by precious metals assets. Each MAPR is backed by $34,000 per token in gold and silver from 11 gold and silver mines in Mexico.
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