Moonlite is a new cryptocurrency mining startup that will allow anyone to buy a stake in the mining of a variety of stable coins via Moonlite's ERC20 token (MNL).
After its upcoming ICO, the company plans to establish crypto-mining data centers in areas with low electricity costs and “clean and green” power plants. The first such center will likely be located in Iceland.
Investors will be able to buy into Moonlite via its MNL token, which is currently in pre-sale in the run-up to a late February ICO. Once the business is running, MNL token holders will be able to vote on how Moonlite distributes the revenue it generates from mining.
MNL token holders will be able to trade their tokens on public exchanges, but Moonlite is also offering a unique token buyback program on the Ether Delta exchange.Every six months, holders will be able to sell their tokens back to Moonlite for the token's market price plus 35% of Moonlite's annual corporate profit. Tokens the company buys back will be “burned” – permanently destroyed – so that the number of MNL coins in circulation will drop steadily over time.
Why is the data center located in Iceland?
Advantages of mining in Iceland:
Records based on finance, cryptocurrency and trade will be checked and the results published publicly. MoonLite issues tokens MoonLite (MNL) and works on the basis of smart Ethereum contracts.
Distribution of proceeds from mining
The proceeds from operations on mining will be distributed as follows:
MOONLITE PLATFORM ICO AND TOKEN (MNL)
Moonlite token (MNL) will be released during the contribution period. Moonlite will sell ERC-20 compatible Ethereum-based MNL token. The aim of the token sale is to provide a discounted participation for the early adopters of the decentralized platform. By purchasing MNL tokens, the early adopters receives a discounted price for using the decentralized platform. The ICO has been structured to give the best opportunities to anyone who would like to participate from the very beginning, providing maximum flexibility and control for the participants.Moonlite token (MNL) will be used for secured and fast payment within the Moonlite ecosystem. It will also be used to provide incentive for early adopters.
TOKEN DISTRIBUTION
Initially, Moonlite will focus on mining Bitcoin and Litecoin. Using specialized mining rigs from Bitmain, Bit Fury, and Pin Idea, it will begin mining Bitcoin at a rate of 28,000 TH/s and Litecoin at a rate of 540,000 MH/s.In its second phase, Moonlite will add DASH mining capabilities at 15,000 GH/s, and up its Bitcoin hash rate to 56,000 TH/s.Its final planned phase will see capabilities increased again across the board: Bitcoin to 120,000 TH/s, DASH to 30,000 GH/s, and Litecoin to 1,008,000 MH/s.
To enable this power growth, Moonlite has built frequent equipment replacement into its business plan. This, the company says, will allow it to keep up and remain profitable as the mining difficulty increases across its target cryptocurrencies.Moonlite may also mine Ethereum depending on its profitability, although Ethereum specifics aren't included in the company's three-phase mining plan.
The Roadmap
Moonlight project plans to increase the cost of the tokens. To do this, a well-chosen team of the company uses the latest technologies to the maximum to achieve and exceed the intended goals.The blockchain-team believes in absolute transparency. All executive, investment and administrative decisions are sent to a public vote, where the owners of the tokens should say their last word. All financial, cryptocurrency and trade records will be audited annually and will be publicly disclosed.The project can remain profitable in a constantly changing cryptoeconomy, because it uses a lot of cryptocurrencies.
Team
The company has a talented team that supports efficient operations of data centers. Qualified support for advisers helps in the planning and execution of a successful launch. The company is very selective in matters of recruitment and works exclusively with talented staff.
