MYCE 101 – A “Mini” Whitepaper

  1. MYCELIA – WHAT’S IN A NAME?
  2. A DAO
  3. YCE COIN
  4. CITIZENSHIP
  5. BLOCKCHAIN PRODUCTS
  6. MARKETING
  7. FINANCE


MYCELIA

“Creating amazing underground networks that are unseen but sprout up as beautiful mushrooms.”

Nature represents a collective behavior. Moving en masse in the same direction. An emergent behavior arising from simple rules followed without any central coordination.

The nature model follows three rules:

  • Move in the same direction
  • Remain close
  • Avoid collisions

A DAO – A self-funded blockchain-operated business.

A financial network enhanced by blockchain technology.

At its core, MYCE designed a Decentralized Autonomous Organization (DAO). A structure that allows the trustless exchange due to shared objectives.

The primary purpose of the Governance System is to provide a self-sustaining autonomous mechanism for the advancement of the DAO. To pay for its continued existence (development, marketing, etc.) from its blockchain.

YCE COIN – An independent digital asset

Genesis block: 1st of March 2018

YCE coin has a highly efficient proof-of-stake consensus algorithm that solves sustainability and scalability problems. Is inherently more secure by design than previous blockchains.

Through clever protocol design, MYCE Blockchain enables Masternodes. To enable a Masternode, an investor can accumulate 100,000 YCE coins.

Masternodes replace miners and have an active role on blockchain validation. This is why they receive the equivalent of a percentage of the daily rewards that depends on the total number of masternodes involved.

There is also a second possible way to actively support the blockchain and receive rewards. Known as Staking and you do not have a minimum amount of coins to hold.  

The YCE Coin is a digital asset with features for everyday use.

Every investor has software to interact with the blockchain that functions across all major operating systems with open source code: A wallet.

CITIZENSHIP

One special aspect of a Masternode project is the trustless contract between a Masternode holder and the blockchain. An individual does not need to sign any paperwork to be compensated for running a Masternode, they simply need to run the Masternode. It is an easy 10-minute task with Mycebot that turns them into a MYCE Citizen.

Citizens trust the network, even know the system itself is trustless (individuals do not need to know or trust each other for the system to work).

On a traditional company, only a few individuals have an opportunity to act as directors. On MYCE DAO those who will choose to participate are called Citizens.

It is our vision that MYCE Citizens will be among the first participants in a blockchain project with a truly decentralized governance system. Either by creating businesses on top of the DAO or by a governance decision-making process citizens will enjoy increasing benefits available.

Every crypto user can take part by presenting proposal to work on, but only Citizens decide on approaval.  One Masternode equals to one vote.

SIMPLE BLOCKCHAIN PRODUCTS

What MYCE does is help crypto users become successful managers of their own digital money by building products that relay blockchain information.

MYCE has decentralized products that turn blockchain interactions into simple experiences.

These products generate the required revenue for MYCE to grow. In the last 6 months MYCE Bots handle more than 50 Millon USD worth of tokens for clients in critical areas.

“We are teaming up with MYCE to realize our vision of decentralized customer support, deploying blockchain support bots to boost our operational capacity. “

Cryptobridge – A Top 100th Exchange Coinmarketcap.com

As technology and MYCE evolve, products will grow beyond the use of bots. The team is vigilant in keeping up with the latest trends and developments.

MYCE Brand awareness

MYCE develops products that have customers. The challenge is to convert clients into citizens of MYCE. Creative approaches are needed to transform us not only into a solutions provider but also into an investment opportunity to be analyzed.

It is not only about generating new investors but also about retaining old ones. The full potential of MYCE depends on ordering and enhancing the ambition of existing MYCE Citizens.

A better approach to help, one that involves partnering to innovate and achieve winning scenarios in which we can activate commitment and where, at the same time, we can provide profitable products and services.

None acts better as a propagator of a successful message than an active and convinced investor in a project. This is the real marketing challenge.

Finance

MYCE never received external investment.

Other existing cryptocurrencies (such as Bitcoin and other altcoins) rely mostly on off-site budgeting, with several ways of obtaining funding: pre-sale of coins, donations, venture funding, etc.

Self-funded with payments that come from the products we develop. This is how businesses survive and we shouldn’t underestimate the value of having products used by real crypto users.