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Banks do give interest but not very much! Magi does this better!
The Coin of the Magi is the digital currency of the future, fair unique and for all people living everywhere!
Rules for the Magi Proof of Interest 4 2016!
The base is very simple.
Time period: The Proof of Interest will last 3 months.
When can I register to participate? Registration will be open: 15-sept-2016 (Magi's birthday) & will be closed at 15-oct-2016.
How do I sign up? Tell me that you want to join the PoI here: WILL FOLLOW
Registration is done by posting your XMG address replying on Bitcoingarden or PM me here (Bitcointalk).
What information should I include? Write your participating wallet XMG address in a reply here: WILL FOLLOW
Only one address allowed to join. Reminder: No exchange wallet-address!!!
The team will check the address initial balance, and that balance will start participating in the Proof of Interest campaign.
(With the use of the Block explorers)
When will I receive my interest? Interest will be paid after 15-jan-2017 (Interest period will be 3 months)
What happens if I have more XMG in my wallet on 15-jan-2017? You will receive interest on the amount present in your wallet on that date. (Advantage participant)
What happens if I have less XMG in my wallet on 15-jan-2017?
You will not receive any interest from campaign, if your initial balance has decreased more than 15% at the campaigns end! (Drawback participant)
What happens if I have used XMG to pay for goods? This has no negative effect on your interest. (Receipt required)
How will be interest distributed? The interest will be distributed by means of a specific calculation. This can be influenced by the number of participants, level of the fund and total number of coins that participate. Team will check addresses random and record the coins in that address. Based on that the interest calculation will be done! (With the use of the Block explorers)
Who will pay the interest for this Proof of Interest campaign? I received donations (at the moment 25.000 XMG)
(Love this guy)
On his request, the donor will remain anonymous! Payouts will be done by me.
Interest will be paid to the designated wallet-address.
Changes of participating address during the Proof of Interest is possible only once per user in the 3 months period (changing is not advisable, though).
Exchanges or wallet-address on an exchange are excluded from participation.
Your XMG balance for joining the Proof of Interest has to be min. 1000 XMG.
To make it more fair for all people the max amount of XMG you can use to join the Proof of Interest campaign will be 25.000 XMG
Example: Dave joins the Proof of Interest campaign with his wallet-address. The balance of his wallet is from the start of the campaing 44.000 XMG
The Proof of Interest campaign will give him interest over the first 25.000 XMG.
This will be more fair and stimulates the idea of decentralized currencies. Otherwise only the richer get richer right?
NOTE: The team reserves it's right to send a warning to a drawback member, that his balance is decrease more than 15% on their regular random balance checks.
There will be a limit set for the amount of people who can join the Proof of Interest. Will Follow!!
Remember the more coins you have in your wallet the higher the amount of coins you will receive by interest!
NOTE: these are concept-rules! Please give your opinion or ask questions.
Magi likes to launch a fair & awesome new Proof of Interest campaign for the great community!
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