[ANN] [MNT] Registration open for Monartis - the currency and online store

[Monartis]

WEBSITE | TWITTER | FACEBOOK | TELEGRAM | WHITEPAPER | CROWDFUNDER REGISTRATION

https://www.monartis.com/images/announcea.jpg
https://www.monartis.com/images/announceb.jpg
https://www.monartis.com/images/announcec.jpg
https://www.monartis.com/images/foundersa.jpg
https://www.monartis.com/images/announced.jpg

Bounty Program

A Bounty Program is being made available, with the link on Bitcointalk coming soon. We've taken great care to recruit a team of Bounty Program Managers who are well respected on the forum. We hope that you all approve. The link to the Bounty Program can be found here: Bounty Program Announcement

Social Referral Program

We will also soon be providing details of our Social Referral Program.

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[maxel2017]

I reserved Indonesian translation dev...if you wish...

[Monartis]

We're very pleased to be able to update the announcement thread with a link to our Bounty Program.

We spent considerable time seeking a reputable team of Bounty Program Managers, who are well respected on the forum. We hope that you'll agree that we were successful. You can find full details at the following location:

Monartis Bounty Program

[Buntel168]

Interesting project handled by needmoney as bounty manager, online store with associated currency will be great project, i will following this project and join the bounty, hope it will be succes.

[Monartis]

I reserved Indonesian translation dev...if you wish...

Thank you for your interest in the project - it's greatly appreciated. We've updated our original announcement with a link to the Bounty Program, where you'll find information about translations. You'll find the link here: Bounty Program

[maxel2017]

thanks so much deb....for fast respond..

I reserved Indonesian translation dev...if you wish...

Thank you for your interest in the project - it's greatly appreciated. We've updated our original announcement with a link to the Bounty Program, where you'll find information about translations. You'll find the link here: Bounty Program

thanks so much dev...

[Monartis]

Interesting project handled by needmoney as bounty manager, online store with associated currency will be great project, i will following this project and join the bounty, hope it will be succes.

It's great to hear that you share our excitement and enthusiasm about the project. It's great to have you onboard.

[Monartis]

thanks so much deb....for fast respond..

I reserved Indonesian translation dev...if you wish...

Thank you for your interest in the project - it's greatly appreciated. We've updated our original announcement with a link to the Bounty Program, where you'll find information about translations. You'll find the link here: Bounty Program

thanks so much dev...

You're very welcome - thank you for your interest.

[Monartis]

Just to confirm, for those who may not have seen it at the top of the thread: our Telegram group is also live.

[SeveralQ]

Hi everyone! Just added Monartis ICO to my website https://concourseq.io/Q/Monartis. ConcourseQ is a collaborative due dilligence community that researches and reviews ICOs. Anyone with an account can submit information to your page, so we are reaching out to this community to get you all involved in the discussion. Thanks! (PS: Team welcome to add sale details)

[Monartis]

Hi everyone! Just added Monartis ICO to my website https://concourseq.io/Q/Monartis. ConcourseQ is a collaborative due dilligence community that researches and reviews ICOs. Anyone with an account can submit information to your page, so we are reaching out to this community to get you all involved in the discussion. Thanks! (PS: Team welcome to add sale details)

Thank you for taking the time to reach out here. We'd be very happy to provide further information to assist with: would you like us to provide that here at Bitcointalk, or via another avenue?

[Alex3011]

What about the airdrop for this coin?

[Monartis]

What about the airdrop for this coin?

Hello Alex,

Many thanks for your intervention on the thread.

Monartis coins won't be released via an Airdrop. If you would like to read more about the project, then you can visit our website at www.monartis.com

Thanks again for your interest.

[Alex3011]

Hello Alex,

Many thanks for your intervention on the thread.

Monartis coins won't be released via an Airdrop. If you would like to read more about the project, then you can visit our website at www.monartis.com

Thanks again for your interest.

Thanks dev for your answer, I'll look the info on your website.

[bribed]

The concept sounds pretty interesting! One question though. Will the prices in the online store (as one is paying with MNT) be constantly changing due to volatility in the cryptomarket? I mean you cant peg the price to a certain amount of MNT right? Otherwise eighter buying the token is unattractive because its to expensive compared to the value of the products or the investors will rather use their MNT to buy the goods in the store than hold their MNT. So in conclusion, it would only make sense to peg the prices in the store to dollar value. But what would be the incentive to use the store then? Please evaluate a bit and correct me if I got something totally wrong here. All the good to you!  

[Monartis]

The concept sounds pretty interesting! One question though. Will the prices in the online store (as one is paying with MNT) be constantly changing due to volatility in the cryptomarket? I mean you cant peg the price to a certain amount of MNT right? Otherwise eighter buying the token is unattractive because its to expensive compared to the value of the products or the investors will rather use their MNT to buy the goods in the store than hold their MNT. So in conclusion, it would only make sense to peg the prices in the store to dollar value. But what would be the incentive to use the store then? Please evaluate a bit and correct me if I got something totally wrong here. All the good to you!  

Hi bribed - thank you for your great question!

The online store integration will allow us three options at the outset (and the same will apply to other retailers adopting Monartis payments, via Shopify from the beginning and then from the additional e-commerce platforms over time). Those options are essentially:

1. Set pricing in MNT
2. Peg the price directly to another currency (eg the dollar, as you mention)
3. Peg the price directly to another currency (eg the dollar) and then apply a price modification

In the case of our initial store, we envisage using option 3. So to take how that will work in practice:

Product A might be priced at $50. We will perform the conversion into MNT and then discount, allowing us to shown an MNT price against the dollar price.

So, to take a hypothetical example, product A might cost the buyer $50 (in fiat), but only $45 (in MNT).

That pricing structure allows us to encourage use of MNT from the beginning, which is important for two reasons:

1. We want the currency to be in use. Offering discounts in our own store is one means of encouraging spending.
2. We want transactions flowing through our store from the outset. That's important for demonstrating to other retailers that the integration is successful and that consumers are willing to spending via MNT in a digital store

We hope that answers your question, but do feel free to ask for any further clarification that you might require.

[bribed]

Hi bribed - thank you for your great question!

The online store integration will allow us three options at the outset (and the same will apply to other retailers adopting Monartis payments, via Shopify from the beginning and then from the additional e-commerce platforms over time). Those options are essentially:

1. Set pricing in MNT
2. Peg the price directly to another currency (eg the dollar, as you mention)
3. Peg the price directly to another currency (eg the dollar) and then apply a price modification

In the case of our initial store, we envisage using option 3. So to take how that will work in practice:

Product A might be priced at $50. We will perform the conversion into MNT and then discount, allowing us to shown an MNT price against the dollar price.

So, to take a hypothetical example, product A might cost the buyer $50 (in fiat), but only $45 (in MNT).

That pricing structure allows us to encourage use of MNT from the beginning, which is important for two reasons:

1. We want the currency to be in use. Offering discounts in our own store is one means of encouraging spending.
2. We want transactions flowing through our store from the outset. That's important for demonstrating to other retailers that the integration is successful and that consumers are willing to spending via MNT in a digital store

We hope that answers your question, but do feel free to ask for any further clarification that you might require.

Hi there, thanks for the detailed explanation. This cleared things up and makes sense to me. But you will still have to adapt prices in MNT if the value goes up or down right? I mean for example if product A is listed for $45 in MNT (lets say this would be 20 MNT) and one day later 1 MNT shoots up to $10 each, so you would have to adjust the pricing to 4,5 MNT for product A am I right? Nobody would buy product A anymore for 20 MNT because it would be equal to $200.

[smyslov]

A product is judged by the team behind it, and I must say this project has a good chance to take off based on the expertise of the team behind this, but do you have a ready platform for this or are you going to integrate to an existing one.

Will follow this project and see how it goes.

[Monartis]

Hi bribed - thank you for your great question!

The online store integration will allow us three options at the outset (and the same will apply to other retailers adopting Monartis payments, via Shopify from the beginning and then from the additional e-commerce platforms over time). Those options are essentially:

1. Set pricing in MNT
2. Peg the price directly to another currency (eg the dollar, as you mention)
3. Peg the price directly to another currency (eg the dollar) and then apply a price modification

In the case of our initial store, we envisage using option 3. So to take how that will work in practice:

Product A might be priced at $50. We will perform the conversion into MNT and then discount, allowing us to shown an MNT price against the dollar price.

So, to take a hypothetical example, product A might cost the buyer $50 (in fiat), but only $45 (in MNT).

That pricing structure allows us to encourage use of MNT from the beginning, which is important for two reasons:

1. We want the currency to be in use. Offering discounts in our own store is one means of encouraging spending.
2. We want transactions flowing through our store from the outset. That's important for demonstrating to other retailers that the integration is successful and that consumers are willing to spending via MNT in a digital store

We hope that answers your question, but do feel free to ask for any further clarification that you might require.

Hi there, thanks for the detailed explanation. This cleared things up and makes sense to me. But you will still have to adapt prices in MNT if the value goes up or down right? I mean for example if product A is listed for $45 in MNT (lets say this would be 20 MNT) and one day later 1 MNT shoots up to $10 each, so you would have to adjust the pricing to 4,5 MNT for product A am I right? Nobody would buy product A anymore for 20 MNT because it would be equal to $200.

Hi bribed

Thank you for your follow up question. In answer to what you are asking here: yes, it will be possible for prices to be updated dynamically, based upon MNT fluctuations. There are effectively two available models for such changes:

1. Using live data, allowing immediate pricing updates to be performed at the time of the user search
2. Scheduled updates. For example, we (or another retailer) might choose to update pricing hourly

The right model for an individual retailer is likely to depend upon their own preferences and the level of price volatility. If the price is particularly volatile at the outset, for example, then it's likely that live rates might be seen as providing the best option.

[Monartis]

A product is judged by the team behind it, and I must say this project has a good chance to take off based on the expertise of the team behind this, but do you have a ready platform for this or are you going to integrate to an existing one.

Will follow this project and see how it goes.

Hi smyslov,

Many thanks for your feedback and for your question.

The online store is being constructed using an existing platform (Shopify), with a custom integration. We took the decision to follow such an approach after some deliberation. We ultimately decided not to build a bespoke platform for a number of reasons:

1. The resource requirement in developing such an approach would have been considerably greater.
2. There were already a number of existing platforms that could already meet the requirement for the construction of an online store. We opted to proceed with Shopify, but there were other platforms available that could have worked too.
3. Perhaps most importantly, if we'd created a bespoke system, then we'd have been faced with attempting to persuade retailers to use that system too.

That 3rd point is critical. Since most retail partners will already have online stores running on existing e-commerce platforms, we believed that it was important that we should be able to integrate with those stores, rather than seeking to persuade retailers to overhaul their systems. Realistically, such persuasion would have been very difficult. By opting for Shopify, we have the means to offer rapid integration with numerous online stores worldwide.

We believe that represents the best approach and we're pleased to see that the project is being rated highly by those who are carrying out assessments.