Hi guys,
Here is the promised update on the Manna Project. I received my second weekly airdrop right on time. The first week I received 29 manna coins. And this week I received 44 Manna coins. I have 2 verified referrals that signed up under me so I am assuming this is why I received more. There is no breakdown anywhere to determine how much I received because of referrals. All I have is my new manna total. There is no way to tell if this week's airdrop was the same as last week either. Perhaps these things will be added as the project matures. The devs seem to be happy simply because so far the airdrops are going off without a hitch.
It is very early days for the manna project, its wallet has no send or receive functionality yet. I read that this will be up and running in the near future. Its kind of vague, they claim to be still in testing phase of wallet, so we will have to wait and see.
On the plus side, the project seem to be growing very rapidly. And understandably so, it is free money after all! Here are the first week's stats that I received in an email from the Manna team:
11,490 people received UBI
3,938 people received referral bonuses
UBI distributed on March 1: 335,989.074810 manna
Bonuses distributed on March 1: 252,430.437846 manna
Value of manna distributed on March 1: About $10,000, according to the market price of Manna at the time of distribution.
80,000 people have signed up for our email list.
60,000 people have registered a user account on Mannabase.
20,000 people are approved for this week's basic income distribution.
We are averaging over 2,000 new signups per day!
Manna has been added to the coin market cap website about a week ago. You can check out its price chart here:
https://coinmarketcap.com/currencies/manna/
What I have seen and what the project devs have noted was that the price has reacted positively to the first airdrops. The price has gone up. You can see on the monthly chart that the price actually spiked and doubled on the day of the first airdrop. Since then it is maintaining a steady higher price.
I would also like to takes some time to address what many people must be thinking about this project. They think that it is some kind of socialistic welfare program that redistributes tax money. This is far from the truth.
Manna is a charitable organization and continues to receive donations. Manna was funded entirely by charitable organizations. People freely gave the seed money for this project. There was no tax money redistributed. This seed money was used by mostly volunteer devs to create the manna blockchain and the several year's worth of coins to airdrop. Once these are distributed by the weekly airdrops to people who have signed up, the future airdrops will be created from inflating the coin amount. This inflation is earmarked at 3.5%, similar to most industrialized nations experience right now.
So if you made it this far, please consider joining this program with my affiliate link:
https://www.mannabase.com/?ref=07733d4562
Hopefully this project will bloom to something big.
Interesting, so the idea is just redistribute all earning made on the sale of the currency on the open market?
The capitalist in me wants to hate the idea of a universal basic income because, I think it hinders economic growth but, I can't think of a better place than the blockchain to test it out, maybe I'll be wrong and this actually propels economic growth and development!
Well, I understand that it works like this: charities donated a bunch of money which was used to create a blockchain with 10 billion premined coins. These coins will be distributed weekly in small amounts to anyone who signs up and verifies their account. They say the supply will last maybe ten years, but I think they will be distributed much faster. The value of the coins will be determined by the free market. I think they are already being traded in small amounts on SouthXchange. I'm sure if the program has more success, that more exchanges will start to trade the coin.
I am also a big free market capitalist, but I think this a way for charities to use blockchain tech more than anything.
Good point. I'm all on board for spreading education about blockchain. The more people that know about it and how it works, the quicker we see adoption.
Nice post
Kryptonia @bitcoinpaul
Great and my Kryptonia account is @ianstevenson
nice post :)
kryptonia @vote-transfer
https://kryptonia.io/?ref=9D2YROV673
upvote :)
kryptonia @steemizm
If thats the case, this is really a manna from heaven!! Upvoted, commented and resteemed by rubelynmacion of krypto.
Yea, they gave the coin a pretty good name.
iulianpatache
upvote,resteem
kryptonia id@hokkaido