Greetings!gold token won’t be listed on any exchange, correct? and let’s say if i want to buy it, given that it requires the ‘kyc’, how and where will you sell your token?
Initially, GOLD tokens will be traded at GoldMint website, the traders will need to pass the KYC procedure which will not take more than 30 minutes. Later on they can be traded wherever according to the terms and conditions of a particular exchange. Any gauranteed coin won't be dumped when it reaches exchanges ?
We can't guarantee a fast profit to our investors right after our first appearance on exchanges. We guarantee their profit after the development of the product. I see MNTP and MNT tokens here. What's the difference?
MNTP tokens can be found on the Ethereum blockchain. ● Initial emission of MNTP is conducted using the ERC20 interface. ● GoldMint’s blockchain, using the Graphene platform gor GOLD and MNT tokens will be launched after. With regards,
team GOLDMINT
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Greetings!if the gold is damaged or stolen, who will take responsibility for?
The gold we use to back GOLD digital assets is all insured. How can it be both backed by real gold and run on blockchain?
A GOLD token can be issued if only GOLDMINT has a troy ounce of physical gold or ETF available to back it. To back tokens with gold means to provide 100% guaranteed anytime GOLD tokens buyback by GOLDMINT their self. That will provide stable price for these tokens which is in lack on market today. What exchanges should we expect? I need liquidity on my investments.
We meet all the requirements of SEC regulations and our tokens can't be determined as securities. The final decision of listing us on exchanges lays upon exchanges their self. According to all this we will start listing negotiations right after our ICO. The first exchanges to list tokens are usually Liqui, YoBit, Tidex, HitBTC. With regards,
team GOLDMINT
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Greetings!how is it burned?
GOLD assets are burned, or destroyed, when physical GOLD is withdrawn from the Custody Bot. how can gold help me hedging risks on the cryptocurrency market?
The price of GOLD is set according to the price of gold at LBMA market. GOLD has gentler volatility than cryptocurrency, so the risks of receiving less for buyback are less than had you used, say, bitcoin to make your transaction. how can icos find gold profitable?
For the same reason as above. Generally, ICOs receive their funding in cryptocurrency which has unpredictable and dramatic volatility. GOLD, which aligns itself to LBMA, can hedge unpredictable money losses after the ICO has launched. With regards,
team GOLDMINT
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_______________________________________________________________ High-Tech Gold Vending Machines_______________________________________________________________  Convenience has driven human innovation since the dawn of time. Technology only furthers the desire to make our lives easier, and vending machines play an important role in catering to that. _______________________________________________________________ Quick History of Vending Machines_______________________________________________________________ Vending machines have existed since the Roman Empire. The first such instance was a holy water dispenser, allowing users to insert a coin and receive the sacred liquid. Modern vending machines, though, came about in the late 1880s, in England. Vending machines, of course, are popular because of their extreme convenience, and ability for you to complete transactions without human interaction. _______________________________________________________________ Different Types of Vending Machines_______________________________________________________________ When you say the word “vending machine”, a little box offering food or drinks often comes to mind. But, there are tons of other types of vending machines out there, varying from weird, to “I-wish-I’d-thought-of-that” type of brilliant.
Many zoos and museums have something called a “Mold-a-Rama”. This type of vending machine works by having the user select the type of figurine they’d like, often in the shape of animals or artifacts. From there, the machine makes the selected blow-molded plastic figurine. Once completed, it spits out the model, still hot from the press.
Japan is well-known for their quirky, atypical trends. Animals and animal costumes are no exception, in their love of going out-of-the box. So, it should come as no surprise that Tokyo offers vending machines for dog wigs and hats. Open 24-hours a day, they’re available to fix any pet apparel emergency.
The 90s brought about widespread changes, with regard to medical marijuana, which caused a huge spike in the cannabis innovation industry. It’s not shocking that a vending machine and MMJ were fused. First available in California, Colorado, and Canada, these machines were placed inside of regulated dispensaries, making the lives of card holders and budtenders alike much easier.
While these off-the-wall ideas are innovative, it begs the question, to what extent can vending machines truly improve our lives? Answer: significantly — and in more ways than you could ever imagine. _______________________________________________________________ Gold Vending Machines_______________________________________________________________ Now, a gold vending machine isn’t an entirely new concept in and of itself. In fact, Westfield Mall located in west London, has been home to a gold vending machine (aptly named Gold to Go) for a number of years. Unassuming, yet it holds a booming presence because of the psychological draw — purchasing gold from a vending machine is novel, yet an increasingly smart investment.
Because gold does fluctuate, Gold to Go updates prices every 10 minutes, to ensure users are purchasing at an accurate market price. You can purchase in one g, 2.5 g, five g, and quarter-ounce sizes…all the way up to a 250 g bar. While exceedingly awesome in concept, there’s so much more that can be done with a gold vending machine, than solely dispensing gold. _______________________________________________________________ A Game Changer_______________________________________________________________ That’s where Custody Bot steps in. GoldMint is a blockchain-based company involved with tokenized cryptoassets — specifically gold. Their proprietary vending machine, Custody Bot, allows people to appraise, store, receive, and deliver gold, without having to interact with human beings.
Custody bot prototype is attached to the public blockchain, Ethereum, and works as a mediator. Moving forward, it will be associated with GoldMint’s custom blockchain, based on Graphene technology. Essentially, when someone initiates an action in the vending machine, a smart contract forms between the buyer and the owner of the machine (known as a creditor). Custody Bot audits and verifies the collateral, and spits out a unique identifier code for each item stored, recording the action accordingly on the blockchain.
Once someone places jewelry in the machine, it’s stored in a safe cell. From there, it conducts a spectrometer analysis of the gold, then hydrostatically weighs the gold. In other words, it’s weighed once in air and once in liquid. It then transfers data to secure computer in the machine, where it either approves or disapproves of the gold. If approved, the value is determined, and it spits out the aforementioned unique identifier code. If disapproved, it’s returned to the owner. While this concept is great for individuals, it is pawn shops who are extremely excited about gold vending machines. _______________________________________________________________ The State of Pawning Affairs_______________________________________________________________ Currently, the pawn industry is riddled with issues. As previously mentioned, wiring payments across borders is costly. Unclaimed pledges are a common issue, as well. Also known as pawns, these are items that have been handed over as collateral for a loan, only to be forgotten. And, because pawn shops exist worldwide, there’s truly no set standard for industry regulations.
Russia, Spain, and the UK house large pawn shop networks. Russia’s industry boasts around $1 Billion in its current asset portfolio. Spain rings in around $3 Billion. The UK, though, takes the cake at £6 Billion pounds. To say the pawn industry is gigantic would be an understatement.
Custody Bot solves many of the issues that plague pawn shops. It allows for gold to be recorded on the blockchain. With this information, pawn shops know exactly how much is in their portfolio, and to whom it belongs. Moreover, lending becomes much cheaper, thanks to the removal of expensive wire transfer fees. And, because pawn shops across the world can lend, trade, and sell with Custody Bot, a set of regulations and standards is easy to implement, given the extreme transparency and connectivity. _______________________________________________________________ Wrap Up_______________________________________________________________ While vending machines have been around for millennia, they’re still a useful tool when paired with today’s advanced technology. Because gold is considered a stable investment, it’s often used as collateral for a loan, especially by pawn shops. Many issues plague the pawn industry, but Custody Bot and other gold vending machines are a revolutionary take on the old technology, by abolishing international borders, and bringing in a new era of pawning. The future of pawn shops has arrived. |
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Greetings!Will this be ethereum based token or you guys will create a different wallet in order to store the GOLDMINT tokens?
Our ethereum blockchain usage is just a temporary solution. After the launch of our own Graphene based blockchain we will transfer all ERC20 kind MNTP tokens to MNT. Our custom-tailored blockchain will contain GOLD and MNT tokens only with its own wallet implemented.
I am trying to wrap my head around the concept you described:
- 'GOLD' is a digital asset emitted by GoldMint’s custom-built blockchain platform.
- 'MNT' Token is what participants of this ICO is purchasing.
1) What is the relationship between 'Gold' and MNT Tokens?
2) How does holders of MNT Tokens in an exchange (eg, Hitbtc) collect the 75% of commissions from GoldMint Blockchain you mentioned?
The project does sounds like a keeper, hope it is a success!
We are going to develop a graphene blockchain containing two tokens: GOLD and MNT(MNTP). MNTP token are 7$ each and now available for sale here. MNTP tokens are not gold-backed but they bring profits to the holder by verifying transaction blocks according to tokens stake held. GOLD tokens are backed by a gold ounce each with an equal price. These will get issued in 2018 only after our blockchain launch. MNT token holders can get profits by holding tokens on our implemented wallet only. Have you passed the Howey test? You promise to "buy back" tokens at markets price it seems like a security token.
What exchanges will list your token?
Our MNT tokens pass Howey Test. We meet all the requirements of SEC regulations and can't be determined as securities. We can provide you more details such as a compliance review but only in our telegram chat: https://t.me/goldmintioWith regards,
team GOLDMINT
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Greetings!Found a really nice article about GOLDMINT in on a german crypto news page. Looks like an interesting project. Its there still a active signature campaign?
Here you can find bounty campaign details: https://bitcointalk.org/index.php?topic=2091804.0Did I understand this correctly that the price of the token is linked 1:1 to the price of gold or what should be the reason to back a currency with physical gold?
We are going to develop a graphene blockchain containing two tokens: GOLD and MNT(MNTP). MNTP token are 7$ each and now available for sale here. MNTP tokens are not gold-backed but they bring profits to the holder by verifying transaction blocks according to tokens stake held. GOLD tokens are backed by a gold ounce each with an equal price. These will get issued in 2018 only after our blockchain launch. Why limit to Gold, and not include also Platinium or any other precious metal.
Personally I would love to Hedge my trade with Platinium rather than Gold.
Gold is the most distributed precious metal in the world. But it's just the beginning of the project and bigger variety can come soon.
With regards,
team GOLDMINT
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Greetings!which is the maximum amount of gold emitted?
The amount of GOLD emitted depends on (a) the validation of deal/ details stored in the blockchain and (b) on the authenticity and value of gold inspected by Custody Bot. what are the commissions for transactions in gold?
Most times, when a person buys GOLD for fiat, the price for GOLD will be LBMA + 5%. When they want to sell their GOLD, the price will be LBMA +3%. The commission for managing gold is 0.2-0.8% per annum, depending on gold volatility and investor traffic. After analyzing the correlation between the value of gold and the stock price of the three largest ETFs - the GLD (announced expense ratio 0.4% ), the IAU ( 0.25% ) and SGOL ( 0.39% ) - we estimate that the real backlog of ETF shares in physical gold is about 0.7% (prices are taken from COMEX on the LME ). do gold commissions depend on the country/citizenship?
No. Rather, commissions and broker commissions are taken into account in calculating our commissions for GOLD. With regards,
team GOLDMINT
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Greetings!some people may wonder if they can exchange the gold token with the real gold bars. how are you going to explain this?
The price of one GOLD equals one ounce of physical gold on the LBMA. Applicants who want to trade GOLD for fiat need to undergo GoldMint's KYC procedure. If accepted, the applicant’s GOLD cryptoasset is transferred from his, or her, GoldMint wallet to a special GoldMint account and is converted to fiat. GoldMint sends this fiat to the applicant. So, the price with commissions you receive for buying GOLD is LBMA + 5%, selling - LBMA + 2%. Therefore the way fiat => GOLD => fiat will be 3%. what can i do with gold assets?
You can use GOLD assets for the following: Exchange fiat to cryptocurrency - Right now the fiat-cryptocurrency exchange market exceeds $400 million. Experts predict that this will reach billions once banks regulate the cryptocurrency industry. Hedge volatility risks - Traders and other cryptocurrency users can hedge their gold commodity with GOLD on any cryptocurrency trading exchange, without leaving that particular platform. Traders can also diversify their trading portfolio with GOLD assets. Payroll unit- Given its low volatility, you may prefer GOLD to BTC and altcoins for paying employees. Because of its low commissions, high speed, and affordability (no extra charges for transborder payments), you can also use GOLD instead of fiat for regular deals. ICO currency - ICOs can ask for GOLD donations instead of regular cryptocurrency funds to hedge the high volatility risks that tend to accompany cryptocurrency. Buy and transport physical gold - You can convert your physical gold into GOLD in any bank that uses the GoldMint blockchain platform. This not only protects cross-country gold transportation but also simplifies the process. how is gold emitted?
The amount of GOLD that is emitted depends on the amount of physical gold and ETF backing that GoldMint has in its reserves. The amount of GOLD in circulation can never exceed GoldMAn's reserves of physical gold. With regards,
team GOLDMINT
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Greetings!could you give us an example number of the cost storing gold? (e.g. in the usa or switzerland)
The average fee for storing physical gold is 0,25% from its estimated value a year. will there be any auditing of goldmint assets?
An auditor from an objective TOP 100 audit company checks GoldMint's accounts each month and confirms that its gold reserves tally with its accounts and with its GOLD emission. On top of that, GoldMint has its own GoldMint internal auditor check its accounts several times a month. how can i buy gold?
People who want to trade GOLD for fiat or cryptocurrency need to undergo GoldMint's KYC procedure. You can also get GOLD when you transfer your physical gold to Custody Bot or to GoldMint’s partner banks. With regards,
team GOLDMINT
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Greetings!What are some of the gold applications?
Custody Bot stores the user’s GOLD and/ or gold jewellery, coins and other other gold items as collateral and simply to protect them. It also serves as the conduit for inspecting the gold, therefore determining how much GOLD the user receives. What are graphene’s advantages compared to ethereum and other blockchains?
Graphene is cheaper, there is no charge for ether commissions. Graphene, too, is optimized for GOLD transactions therefore its executes its blocks faster and more effectively and it’s safer in that it uses its own coins rather than turing-complete smart contracts. How can mnt tokens be purchased?
MNTP is initially released via ICO, after which MNTP tokens will migrate to the GoldMint blockchain, using a 1/1 fork. Then they will receive an MNT ticker. With regards,
team GOLDMINT
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Greetings!How Custody Bot will be linked to a blockchain?
The Airalab Core platform links Custody Bot to the blockchain. We are consulting with them because they have a huge expirience about connecting various bots to blockchain Why don't you use ETH blockchain?
GoldMint’s blockchain, using the Graphene platform will be launched. Advantages of such a choice compared to using an Ethereum private fork are as follows: 1. Safer - GoldMint blockchain uses its own coins rather than turing-complete smart contracts. 2. More productive - GoldMint uses PoS, is optimized for GOLD transactions as there are no other ICOs on the same platform. 3. Cheaper - no charge for ether commissions. 4. The Graphene blockchain supports PoS. What is the use of API implementation?
The Application Programming Interface (API) regulates the GOLD, distributing these tokens to the following entities: E-commerce that can use GOLD for transactions. Local banks and Monetary Financial Institutions (MFIs) that can use GOLD as collateral. The API also regulates the GOLD that is used as escrow for bank accounts and as financial guarantees. With regards,
team GOLDMINT
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Greetings!What is gold?
GOLD is GoldMint's cryptoasset. It’s value is aligned to the current LBMA price of gold. One GOLD equals one ounce (31,1035 grams) of gold (999 quality) on the stock exchanges + 5% commission (max.) How can MNT tokens be purchased?
MNTP is initially released via ICO, after which MNTP tokens will migrate to the GoldMint blockchain, using a 1/1 fork. Then they will receive an MNT ticker. How can MNT tokens be purchased?
You can use GOLD assets for the following: Exchange fiat to cryptocurrency - Right now the fiat-cryptocurrency exchange market exceeds $400 million. Experts predict that this will reach billions once banks regulate the cryptocurrency industry. Hedge volatility risks - Traders and other cryptocurrency users can hedge their gold commodity with GOLD on any cryptocurrency trading exchange, without leaving that particular platform. Traders can also diversify their trading portfolio with GOLD assets. Payroll unit- Given its low volatility, you may prefer GOLD to BTC and altcoins for paying employees. Because of its low commissions, high speed, and affordability (no extra charges for transborder payments), you can also use GOLD instead of fiat for regular deals. ICO currency - ICOs can ask for GOLD donations instead of regular cryptocurrency funds to hedge the high volatility risks that tend to accompany cryptocurrency. Buy and transport physical gold - You can convert your physical gold into GOLD in any bank that uses the GoldMint blockchain platform. This not only protects cross-country gold transportation but also simplifies the process. With regards,
team GOLDMINT
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Greetings!
It sound quite interesting. I have heared Goldmint on ICObench, it has a high score and is one of top projects on this website reviews ICOs. But I think the target value of Goldmint quite vague, because 1 GOLDMINT = 1 oz of Gold is very high price while total supply tokens of this project also quite big.
Goldmint will issue 2 kinds of tokens: GOLD and MNT(MNTP). On crowdsale there is MNTP tokens offered which are not gold backed. GOLD tokens to be issued in 2018 after the launch of our own Graphene based blockchain. Each GOLD token will get backing of a gold troy ounce. Can US/Singapore citizens participate in the ICO?
I think not, because if I could participate it would be described at the beginning of ANN. Let's wait for someone responsible to answer, because I also have this doubt US and Singapore residents are not officially allowed to participate in the crowdsale. Those who are still in search can check for secure VPN on internet. destruct,
Is it going to be Proof-of-stake or Delegated-proof-of-stake?
It will be Delegated PoS. With regards,
team GOLDMINT
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Greetings!if I invest 1 ETH, the only benefit I get is a 20% discount, if you manage to intrude GMT in some big exchange house? or do I have any more speculative benefits?
already contacted some big poloniex exchange, bittrex, in case investors need liquids and be able to sell their currency?
Our MNTP tokens can't be determined as securities as meet all the requirements of SEC regulations. How do I receive the MNTP I bought? If I got it right, you're going to develop a Goldmint wallet application. So the only thing I need then is to download it from your Website and sync it with my ETH-address?
Goldmint wallet will be implemented after the launch of our Graphene based blockchain in 2nd quarter of 2018. You should have been received them on you ERC20 kind wallet. MEW for example. is the real price of one MNT is 7$? since your ico went live, how much you are considering as your soft cap?
Our Soft cap is $1M. With regards,
team GOLDMINT
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Greetings!Hey destruct,
You said it is going to be Graphene-based (just like BitShares and Steem are). Is it going to be Delegated Proof-of-Stake just like those other Graphene-based blockchains? Delegated means it is voting-based, which means our stake means we can vote for the witnesses / block producers / miners (whatever people like to call them).
I don't know any Graphene based blockchain that is purely Proof of Stake as you said. All of them are voting-based (DPoS). Please clarify that for us!
By the way, Graphene is awesome.
Thanks for your attention!
It is going to be DPoS consensus algorithm. Hey what was the price and bonus in earlies hours?
I received 49,02 MNTP for 1 ETH on morning today, but now offer is 49,89 MNTP for 1 ETH... Is it because of ETH rate rised?
Price on a website given is including bonus already. Price could change regarding ETH course fluctuations only. I'll be looking at this project later! Is the bounty campaign still going on?
Our bounty campaign can be found here - https://bitcointalk.org/index.php?topic=2091804.0With regards,
team GOLDMINT
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Greetings!What happens if the miner doesn’t have enough computing power to verify a transaction?
The miner can buy more from from other miners on the network. Does mnt act like a goldmint share?
MNT token does not imply rights to participate in company management of GoldMint and is not a share. Which data will be stored on graphene blockchain?
Details of the miner rotation, miners’ rewards and incentives as well as details related to Custody Bot operations (e.g., assessment, weight, when allocated and withdrawn). Also stored on Graphene are all details related to GoldMInt’s GOLD transactions. With regards,
team GOLDMINT
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Greetings!What do you want to gain with your project?
Today there are more than 60,000 tonnes of gold from the earth extracted, half of which finds its way into the pockets and accounts of “ordinary” people. Our idea is no short of revolutionary: we plan to convert this gold into blockchain-encrypted tokens to help owners protect their valuables, to help investors move their gold can more rapidly and easily from one part of the world to another, and to help companies and individuals hedge their gold against market volatility. We plan to move in three stages: To gain access to 1% of global gold circulation (over 300 tonnes) by launching Custody Bot automated storage facilities in pawnshops around the world. To gain access to another 5% of gold circulation by introducing Custody Bot to shopping centers. To gradually gain access to a final 10% of gold reserves, worth more than $100 billion, and to develop a special version of Custody Bot for popular installation. How will be distributed tokens during ICO event?
Release of MNT tokens are done by Ethereum-based smart contracts, specially used for distribution of tokens. 80% of 10 000 000 MNT are released during ICO launch. GoldMint team receives two million MNT tokens, and no more than 500 000 per quarter distributed via a special wallet. Some consultants receive MNT tokens two months after ICO launch. Smart contracts can automatically trade ETH into MNT. The number of tokens to be transmitted to a particular user depends on the sum at the time of its receipt by GoldMint. What happens in case the loan is not repaid?
If the borrower defaults, his GOLD cryptoassets are transferred to GoldMint. With regards,
team GOLDMINT
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Greetings!How will be distributed tokens during ICO event?
Release of MNT tokens are done by Ethereum-based smart contracts, specially used for distribution of tokens. 80% of 10 000 000 MNT are released during ICO launch. GoldMint team receives two million MNT tokens, and no more than 500 000 per quarter distributed via a special wallet. Some consultants receive MNT tokens two months after ICO launch. Smart contracts can automatically trade ETH into MNT. The number of tokens to be transmitted to a particular user depends on the sum at the time of its receipt by GoldMint. How was the idea of GoldMint conceived?
The idea of GoldMint reached Dmitry Pluschevsky's mind when he worked as a director of a venture fund in Russia and was looking for niches for a new business. Any gauranteed coin won't be dumped when it reaches exchanges?
We can't guarantee a fast profit to our investors right after our first appearance on exchanges. We guarantee their profit after the development of the product. With regards,
team GOLDMINT
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Greetings!Which rights does mnt provide its holders with?
MNT tokens holders are allowed to vote on GoldMint’s platform in proportion to their number of tokens. This means that when changes are made to GoldMint’s platform, MNT token-holders vote on whether or not to accept these changes. They also have a right to validate blocks and get rewards in GOLD. There was something written about API? What is about?
GoldMint plans to develop an Application Programming Interface (API) to regulate GOLD. This will achieve the following: ● E-commerce can use GOLD for transactions. ● Local banks and Monetary Financial Institutions (MFIs) can use GOLD as collateral. ● GOLD can be used escrow for bank accounts and as financial guarantees. How is it burned?
GOLD assets are burned, or destroyed, when physical GOLD is withdrawn from the Custody Bot. With regards,
team GOLDMINT
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Greetings!Do gold commissions depend on the country/citizenship?
No. Rather, commissions and broker commissions are taken into account in calculating our commissions for GOLD. What is the limit of the loan?
The limit of the loan depends on the GOLD or the value of the gold that is used as a collateral. Can MNT holders participate in GoldMint company management?
Is GoldMint a DAO?
The internal MNT token does not give rights to participate in company management of GoldMint and is not a share. MNT tokens holders recieve a right to vote on GoldMint platform proportionally to the number of tokens they hold. This means that in case some changes are to take place within GoldMint platform, MNT tokens holder vote on whether to accept it or not. With regards,
team GOLDMINT
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