mEthereum Token - A token backed by ETH
Enhanced ERC20 token based on the Ethereum blockchain
Name
mEthereum
Symbol
METH
Currency coverage
ETH
Maximum number of tokens (Total Supply)
21,000,000 METH
Guaranteed nominal value of the token
1 ETH = 1000 METH
Decimals
15
Contract address
0x6077B61C0843F5124188e8fc9acbFFd068219BdF
About token
mEthereum token (METH) - the cryptocurrency backed by cryptocurrency
ERC20 token which worth not depends on somebody's else will, but unlike the most of modern cryptocurrencies (coins, tokens) its worth based on value that that token contains within itself.
There is a huge amount of tokens that were created per one click. These tokens have no coverage, these tokens had been not mined, but minted. Thus all their value is backed by promises of creators and owners.
Very often, crypto assets are compared with shares of companies. This comparison is not very correct. There is a feature that is inherent only in securities (shares of companies). This feature is the nominal value of the security (shares). Most existing crypto assets (tokens) do not have such a feature as the nominal value. And now we dare to propose to people our solution when the token is able to preserve its value in itself.
The smart-contract we propose provides a refund on investment in exchange for tokens. I.e. reimbursement of collateral takes place. The collateral is Ethereum amount, which is deposited within the contract. If Ethereum amount is deposited onto the token's contract, the tokens are issued to purchaser. If the tokens are transferred back to the contract, Ethereum amount is refunded to purchaser. Thus you see this token is backed by Ethereum without the participation of third parties, in unattended way.
The first benefit is, as we can see now, the token backed by Ethereum is the most security token, because its nominal value is guaranteed by blockchain. No one can steal this value neither transfer it, even the contract owner can't do that. If the owner once wants to get some tokens from the contract he must first pay proper amount of Ethereum to the contract. There is no difference between the contract owner and ordinary purchaser. The algorithm hasn't temptation to spend deposited funds or to issue unsecured tokens. The smart-contract has no backdoors through which there would be a leakage of nominal value. Smart contract has no pity, no deceit, no greed. It will hold your funds until you claim them.
Mission Statement
The new standard of security and utility tokens backed by cryptocurrency, guaranteed by blockchain, redeemed at any time
Key Features
Guaranteed
nominal value
Refund guarantee. The smart-contract provides a refund on investment in exchange for tokens. All invested ETH to the token smart contract will be refunded at any time you wish. It means you can get nominal value at any time. This is guaranteed by code of the smart contract and blockchain Ethereum.
Total supply
The smart-contract has finite amount of issued tokens, so-called Total Supply. When all the tokens are redeemed from the smart contract there will be no else additional issue. From that point we may consider the token as some kind of rarity that could be sold on secondary market with added value. Meanwhile, if the market is down the token could be returned to smart contract to refund with nominal value at any wished moment.
High Level Security
No one can steal contract value neither transfer it, even the contract owner can't do that. If the owner once wants to get some tokens from the contract he must first pay proper amount of Ethereum to the contract. There is no difference between the contract owner and ordinary purchaser. The smart-contract has no backdoors through which there would be a leakage of nominal value. Smart contract has no pity, no deceit, no greed. It will hold your funds until you claim them.
No KYC
METH doesn't require any KYC passing. The main purpose of KYC is declared as taking care about customers to protect them from some kind of fraud or scam. In this case, this role is played by METH smart contract that preserves customer's funds within itself. Thus no need to trust any third-party intermediaries. All funds are protected by an independent and trustable algorithm that acts in unattended way, with no one's intervention.
Introducing
Current Token Allocation
Token Distribution
Instructions
Mint METH token
To mint METH tokens, send any ETH directly to the Token Contract Address.
No ICO!
Redeem ETH
To redeem ETH, send METH tokens to the Token Contract Address. You'll be refunded within the transaction.
Token Contract Address is
0x6077B61C0843F5124188e8fc9acbFFd068219BdF
Exchanges
You may trade METH here:
Recent News
16.7.2018
Contract creation
Publication of the smart contract on the Ethereum blockchain
View the contract on etherscan >>
1.9.2018
Site creation
Publication of the site
FAQs
mEthereum token (METH) is the cryptocurrency backed by cryptocurrency. It's an ERC20 token which worth not depends on somebody's else will, but unlike most modern cryptocurrencies (coins, tokens) its worth based on the value that that token contains within itself.
Developers get 1% of tokens in the token redeeming process. If the purchaser returns his tokens to the smart contract, he gets back 99% of the invested ETH. 1% of ETH remains in the smart contract for its developers, until the developers refund it for their tokens.
This is because 1% ETH is held for developers and it will stay inside smart contract untill developers refund it for their tokens. You get 99% of the ETH invested.
In fact, you shouldn't. Moreover, you shouldn't trust to anyone except of the smart contract when using METH. The idea of METH was that algorithm deployed into blockchain is more honest and trusted than human-factor. Technology of blockchain guarantees that smart contract is not changed, is not hacked, is not rewritten.