Singapore, Singapore – (NewMediaWire) – Nov 20, 2022 – The Simandou protocol, created by Probe Builders, recently declared the “Second Curve” of Crypto, vowed to introduce all RWAs into the probe ecosystem and become the most popular “Real Protocol”.
The Simandou Protocol, launched on November 18, 2022 in Simandou, Guinea, unlocked the “reality” of the crypto industry, from which, the Simandou Protocol aims to allow the “Real Protocol” of the Probe Ecosystem to begin be of greater importance than the “Smart Contract” of the Ethereum Ecosystem.
Simandou Protocol, based on the concept of “Protocol First”, whose idea lies in the different protocols that Probe has launched. Simandou Protocol focuses on RWA-CeFi, RWA-DeFi and Myth Mines, it is known as the first one to be igniting and illuminating the “secondary curve” that the entire industry has been searching for.
Simandou Protocol relies on physical mining from the Simandou mine to support its cryptocurrency economic model. The Simandou mine is a large iron ore mine located in the Simandou mountain range, in the Nzrkor region of southern Guinea, representing one of the largest iron ore reserves in the world, with estimated reserves of 10 billion tons of ore with a grade of 65% iron metal
In November 2019, WINNING CONSORTIUM OF SMEsa consortium created by Singapore’s Winning International Group, China Hongqiao and UMS Guinea, wins the bid for the 360-square-kilometre North Blocks 1 and 2 of the Simandou iron ore deposit at a price of $14 billion, and was granted the Mining Concession in March 2021. Simfer SA, a joint venture between the global mining giant red river and global aluminum giant Chinalco.
About the probe.
The Probe Consortium is the central force in the initial construction of the Probe Ecosystem (also known as Probe.Builders) tenure Serving 3 billion digital nomads in the 21st century as your mission. On the home page of its official website, the slogan “Uniting the wealth of web2 and web3” is particularly eye-catching and inspiring. And unlike traditional mining industry practices, the multi-billion dollar worth of mines acquired by the Probe Consortium are this time positioned as RWAs (Real World Assets), which were to be injected into the recently launched Probe Ecosystem. The importation of assets of this size is the first time the crypto industry has seen in the last ten years or so.
On Simandou protocol.
The Simandou Protocol consists of three different essential parts, namely RWA-CeFi, RWA-DeFi and Myth Mines:
1. 20% of the mining concession will be pledged to a renowned international commercial bank, with the objective of obtaining a fiat currency liquidity of not less than $500 million, so that the demand for fiat currency liquidity is partially satisfied in RWA-DeFi;
2. 30% of the mining concession will be listed through IPO or SPAC with a schedule of no later than Q3 2023, to raise $1 billion from the public market to build the largest steel plant in Africa in Guinea and other supporting infrastructure, with a view to officially start mining no later than 2025.
On RWA-DeFi and Myth Mines
The remaining 50% of the mining concessions are committed through the Simandou DeFi contract in the ProbeChain who vowed to become the world public ledger, and on the basis of which 5 billion “Simandou tokens” (SIM) have been issued. All SIM holders are entitled to collectively share up to 50% of the profits generated by the production of the mines and the Guinea steel plant until 2038.
1.500,000,000 SIM: open for public purchase at the price of 1 USDP/SIM in the Myth Mines app. The Simandou DeFi contract will be automatically activated after 7 days of purchase. The lock-in period will be 360 days and the 15% annualized interest will be released daily. Unlocked SIMs can be pledged to a specific commercial bank, or exchanged for Simandou shares on the traditional capital market, or invested in other mines in the Simandou Protocol;
2. 500,000,000 SIM: through cooperation with the Economic Community of West African States (ECOWAS), by the end of Q1 2023, will be airdropped to 50 million wallets in the Myth Mines app (including 10 million for citizens of Guinea). Users can use their SIM cards in the stores and applications within the Probe ecosystem, helping Probe to complete the first non-linear growth and reach the level of tens of millions of users;
3. 4,000,000,000 SIMs: Distributed to games in the Myth Mines app, users can only get them by playing games. The first batch of games will be officially released at the beginning of the second quarter of 2023.
In the near future, Simandou Protocol will launch the airdrop of mines of myths.
More rules: official probe Twitter
Official email: [email protected]