MercuriEX, a U.S cryptocurrency exchange, is adding Minds Tokens. MINDS can be traded for Bitcoin or TrueUSD, a stable-coin pegged to the US Dollar.
Minds is a cutting edge cryptocurrency based social media platform with more than 1 million users. Last month Minds launched their Minds Token Sale. Minds Tokens are currently used as a means of exchange for services on the Minds platform, such as boosting posts for more views.
However, there is currently no way for content creators and contributors to “cash out” or benefit monetarily from Minds Tokens . Now that MINDS is listed on MercuriEX a market will be created, giving value to the Minds Token.
How will this work?
MINDS is currently pegged to Ethereum (0.2ETH = 400 MINDS), causing the value to fluctuate with the price of Ethereum. At the start of the Minds Token Sale, 1 MINDS was worth around $0.24. Currently, 1 MINDS is worth around $0.14.
This change in value provides an opportunity to make the market and create value for the MINDS token. Speculators can anticipate changes in prices and content creators can monetize their content.
TrueUSD is a stable-coin, meaning the value of 1 TUSD is equal to 1 US Dollar. MINDS/TUSD exchange pair
How would a Minds content creator sell their tokens and benefit monetarily?
Here is an example using MINDS and the TrueUSD (TUSD) exchange pair:
A speculator sets a large buy order for MINDS at 10 cents (.10 TUSD). A Minds content creator thinks 10 cents is good enough to sell at that price. The content creator now has TrueUSD (TUSD) and can redeem for US Dollars through the TrueUSD app enabling monetization of his/her content.
If a Minds content creator wanted to trade MINDS for Bitcoin(BTC), the above example would be the same, except after selling MINDS they would hold Bitcoin. They could then choose to hold that Bitcoin and sell in the future, or exchange it for currency.