FAQ of the MUXE Currency

What is MUXE?

MUXE is an cryptocurrency created for people and for daily usage. MUXE Ecosystem envisions to improve the ecommerce market segment and aims to fulfill its initial purpose of providing individuals and businesses with a fast, efficient and both a centralized as a decentralized way of making direct transactions.

What is the Mission of the MUXE Currency?

The mission of the people behind MUXE is to bring people around the world together by introducing blockchain transactions to our community members into their every-days life. The MUXE Currency makes it possible to engage in direct transactions quickly, efficiently and easily via a variety of third party product providers such as Parjar, LoMoStar, Guildchat and additional social platforms that allow you to share cryptocurrencies with others. With MUXE Currency, businesses and individuals have many options that allow them to either sending or to receiving payments. Within seconds, we support developers to build integrations and tools that allow the MUXE currency to be involved in an large scale transactions between merchants and small scale payments.

When was the MUXE Currency created?

The MUXE Currency was created on the 5th of January in 2018 under the name MUXE Token. The MUXE Token is created by the mother company of our organisation which is called MUXE B.V. The company releases tokens to its network over a period of time and will continue to do so until the total cap of is in circulation.

Is the MUXE Project a private company and how is it funded?

MUXE B.V is a private company owned by Velox Aqua B.V Holdings. The shares of the company belong to Jaimy de Vries. The family business network of Jaimy de Vries has great reach into the South Asian Market and MUXE B.V has been involved in the Asian market from day 1. We strive towards a future were Europe and Asia are interacting with each other on a day to day basis via the MUXE Ecosystem.

How Can I get the MUXE Currency?

There are a several options that allows you to obtain MUXE Tokens. The most common option is to buy them on a supported cryptocurrency exchange. Another way to obtain the MUXE Tokens is via one of the Social Tipping Social networks that have MUXE Tokens supported as a tipping payment solution. Currently MUXE has not yet introduced its  (using official Tipping bot), however, there are a variety of additional options to tip MUXE Tokens among them Parjar on Telegram, LoMoStar App, Guildchat App or the Biyong/Bchat app.

Where can I find technical documentation on MUXE Currency?

All though we are still creating our technical documentations and legal documentations you may find more information about the MUXE Project and its products and services on Support.muxe.io . MUXE is also planning to share some open sourced tools for Developers that want to help out expanding the MUXE Project.

Was the MUXE Currency pre-mined?

MUXE Tokens exist on the Ethereum network, therefor MUXE Tokens are ERC20 based cryptocurrency assets which were 100% pre-mined. Our Smart contract does NOT have the option to mine additional tokens which means that there will never be more MUXE Tokens then available on the market. Currently 17% of the entire currency is in circulation and a majority of the tokens are still being distributed among users that participate in our ecosystem.  The development team and contributors purchase the tokens via open markets or via our website directly at our own fixed FIAT rates. Those that purchase the Tokens via us directly choose to pay a higher price because the money that they will spent will be used to fund the goals of the MUXE Project. Others try to get the MUXE Tokens as cheap as possible and buy them anywere were they can make a deal thats most interesting to them.

What is the total supply of the MUXE Currency?

The maximum supply is capped at 10 billion MUXE.

Why is the total supply of MUXE 10 billion?

MUXE Currency is designed the way it is to allow for convenient payments around the world in an everyday use. For example: Bitcoins only have an total amount of 21 Million pieces available. With nearly 8 billion people alive  it would mean if everyone owned an equal amount of Bitcoin that each person would hold 0.002625 Bitcoin. MUXE have Pieces which means if everyone would own an equal amount of MUXE Tokens everyone would hold 1.25 MUXE tokens.  We decided that the MUXE Tokens would be most efficient as a micro transact-able cryptocurrency and believe that pieces will allow the MUXE token to to become a sustainable asset that will be used in a high variety of market segments in the future.

Is the MUXE Currency mother company planning to burn MUXE Tokens?

We will not burn any MUXE tokens that are in existence. Our theory is that we have created MUXE tokens which will never have the option to premine another set of MUXE Tokens. Meaning that 10 billion pieces are the maximum amount of MUXE Tokens that shall ever exist. However, over time there will be people who lose access to their MUXE Tokens or people who forgot that they ever had them when they burned their old computer or smashed their old handphones. When this happens, some people will lose their funds forever without ever being able to replace them. This means that the burning process of the MUXE currency is in the hands of its users. The MUXE team is continuing to distribute MUXE Tokens among active members who are truly helping the MUXE project to grow, and most of these people share the MUXE tokens they receive with an larger amount of people that they have brought into the community. This is allowing the MUXE currency to reach the market further and further step by step.

Is the MUXE token an inflationary asset?

The MUXE Token exists out of pieces and has no inflationary function. The total circulation is capped at 10 billion pieces and will therefor only decrease based on those that lose their tokens or decide to burn the tokens themself by sending them to an impossible cryptocurrency wallet address.

How much are the transaction fees of the MUXE Token?

Due to the fact that MUXE tokens are an ethereum based asset there are fees in Ethereum, however, MUXE is working on a variety of solutions that will allow users to store their MUXE Tokens elsewhere and to transact them with ease of use via alternative blockchain technology implementations that allow to avoid the Ethereum Mainnet.

How fast are the transactions of MUXE Tokens?

The transaction speed of the MUXE Tokens are completely depending on the speed and load time of the Ethereum network, it varies between 5 and 25 seconds on an average day but may take up to minutes on crowded days.

What is the transaction capacity per second of MUXE Tokens?

The capacity of transactions per second of the Ethereum network are 15 transactions per second. In theory this means that the capacity of MUXE Token transactions are also 15 transactions per second, all though we are sharing the Ethereum network with an high amount of additional ERC20 based currencies so therefor the transaction speed truly depends on the usage of the Ethereum network on the moment of an transaction.

When will the maximum supply of MUXE Tokens will be reached?

The maximum supply of MUXE Tokens are currently already reached. Its a matter of years before the entire amount of MUXE Tokens in existence are spread among millions of people and to build demand for the MUXE tokens from thereon.

How can I accept MUXE Tokens for my business?

We are currently still creating payment solutions and integrate-able vendor plugins for business owners to accept the MUXE currency as a payment solution for their business.

How can I support the MUXE Currency project?

We are very grateful to anyone that is willing to support the MUXE project in anyway that they believe is supporting the project. At MUXE we are flexible towards our community members and we dont believe in enforcement of will. Therefor our group exists outof people that truly want to be at MUXE. We have members that are around on a day to day basis but we also have members that say hi from time to time and that contribute to the MUXE project in their own unique ways. If you believe you have the intention to support MUXE then you are already supporting our project and anyway you see fit that doesnt harm anyone is a win win situation for everyone.

How Is MUXE Development Funded?

The development of the MUXE Business is funded via a variety of ways. Our income exists out of Private investors who are purchasing MUXE Tokens from us directly on a monthly basis, Businesses that decided to become our clients in our service expertise area such as professional website development & maintenance, Webserver  and IT Management, Online Security improvements for small business owners and our income from our pilot mvp platform that exists out of ads and sales based revenue.

Where Can I View the MUXE Tokens Rich List/Blockexplorer?

MUXE Tokens are available on a variety of Blockexplorers among them Etherscan.com, Etherplorer.io, Blockchain.com, Cryptoprofile.com, Cryptocoinstart.com and many more.

Where Can I Learn More About MUXE?

You can learn most about the MUXE project on token.muxe.io directly but should you believe that you want to learn further we encourage you to join our socialmedia to interact with us on a daily basis. We love to see you online at www.muxe.online to get involved with the MUXE Ecosystem more and more.

Where Can I Find the MUXE Roadmap?

You can find our Roadmap on the Homepage of our website but also in the footer of our website which has a URL Database of all important websites that are related to MUXE. These urls are available on every page of the MUXE.io Website.