a comprehensive guide to the Blockchain ecosystem and its tokenomics

by Arthur · April 17, 2023

MinePlex is a digital ecosystem that creates next-generation payment solutions to expand the blockchain’s potential and make using cryptocurrency as easy as traditional currencies. The company uses unique CrossFi technology to fulfill this mission, combining the stability of traditional finance with the transparency and security of blockchain technology, which is covered in detail in the project’s whitepaper (PDF).

Table of Contents

MinePlex ecosystem

The ecosystem is built on its own blockchain, MinePlex, and includes the following:

io: The project’s website with official updates and the latest news. It is also a unified point of entry into the MinePlex ecosystem, allowing users to easily navigate all products and services.
MinePlex Wallet App: A mobile application for iOS and Android that allows users to create wallets and securely store and manage MPX, XFI, PLEX, BTC and USDT tokens with just one click.
Explorer: One of the central tools of both MinePlex blockchains, where users can access all information about events that happen in blockchains, track the price and turnover of the original tokens of the project, see all the transactions with them, plus general information about wallets, validators and pools.
Money: Your personal account in MinePlex. It is a cryptocurrency based electronic payment system for transactions within the MinePlex ecosystem and Mineplex.Payment. It allows users to store and spend major cryptocurrencies, PLEX and XFI tokens, order cards and make payments offline and online.
payment: Crypto-based purchasing platform for businesses. It enables businesses to develop and accept cryptocurrency payments with ready-made pages to accept fiat and cryptocurrency online payments, proprietary MinePlex POS terminals, tools to create custom payment pages, and more.
Finance: A next-generation mobile financial platform that provides access to online banking and financial services in Euro, Pound Sterling, PLEX and XFI tokens on a mobile phone from anywhere. The updated app is scheduled to be launched in July 2023.
Marketplace: An online platform where users can buy goods directly with PLEX and XFI tokens. On top of that, an innovative product redemption tool allows users to get items for a fraction of the cost. The marketplace is currently undergoing an update. Pay attention!
Place: Our partners are a community of people who profit from cryptocurrencies and investments – a space for intelligent, modern, free and independent individuals.

Source: MinePlex Whitepaper PDF

Now, what kind of tokenomics binds such a vast ecosystem together and keeps it going?

MinePlex Tokenomics

A comprehensive description of MinePlex Tokenomics can be found in the associated PDF.

Now is an exciting time for the project due to MinePlex making a major update in 2023 by moving to a new architecture (here’s a roadmap PDF) with two brand new project-based coins: XMine (MPX) and CrossFi (XFI) , where MPX is a non-volatile token with unlimited emission, and XFI is a volatile token with limited emission.

Source: MinePlex Tokenomics PDF

* Maximum emissions available for mining for MPX staking. After the second phase of the transition to MinePlex 2.0, an additional discharge will be provided, and this indicator will be adjusted.

MPX coin

The MPX token serves as the foundation of the MinePlex blockchain network, providing the computing power required to generate new XFI tokens through staking. It is also used to pay transaction fees.

MPX tokens can only be acquired with XFI (new token) and PLEX (token from the previous generation of the MinePlex blockchain) at an exchange rate determined by their value on exchanges. XFI is scheduled to be listed on major cryptocurrency exchanges in May 2023. Currently, the price can be checked in the MinePlex Explorer app. Meanwhile, the nominal value of MPX is fixed at 0.01 USDT, which ensures stability and immunity to market volatility.

The MinePlex 2.0 blockchain runs on the Delegated Proof of Stake (DPoS) consensus protocol. So all MPX holders can choose one of the 64 validators to delegate tokens and start mining XFI, generating a basic return from their efforts. After delegation, MPX coins are put into operation immediately. Each new block of XFI coins is distributed among the delegators in proportion to their MPX stake.

For detailed information on the stake conditions and the MPX emission and distribution model, see the MinePlex Tokenomics PDF.

XFI coin

XFI is a utility token required to access all products and services in the MinePlex ecosystem, including wallet, finance, payment and marketplace. It is also necessary to generate new MPX coins on the network through conversion.

XFI is a highly liquid asset, which further enhances its versatility within and beyond the broad MinePlex ecosystem.

The release of XFI coins is designed for 20 years and consists of five stages.

Again, for detailed information on the XFI emission model and formulas for the XFI initial exchange rate and fundamental return, see the MinePlex Tokenomics PDF.

According to this document, during the XFI release period, the company’s strategic focus will be to achieve an approximately 100% MPX return per year, or 7% per month. This will be supported by various marketing activities, technological advancements, product releases, partnerships, ecosystem expansion and geographic expansion of MinePlex, making it even more interesting for early adopters. So be sure to DYOR and join the large and growing MinePlex community without delaying too much.