MINERVA-The World’s first reverse merchant processor

 

Minerva is a platform built on the Ethereum blockchain and its cryptocurrency is the OWL ERC20 token. The aim of Minerva is to address mainstream cryptocurrency adoption issues and provide partnered businesses with incentivized payment solutions.

MINERVA DIFFERENT FROM BITCOIN

The core differences between Minerva and Bitcoin is that Minerva is designed to reward platforms that accept its OWL token with reverse transaction fees, as well as address the challenges of mainstream cryptocurrency adoption. Minerva is a platform and its OWL token is its currency. In addition to being a cryptocurrency, we are the world’s first reverse merchant processor.

MINERVA BE USED

Minerva will be used on carefully selected platforms which are subjected to rigorous auditing and transparency agreements. It is unlikely will consider parterning with any platform with a > 15,000 Alexa ranking.

USE MINERVA TOKENS
 ERC20 compatible wallets such as MetaMask, MyEtherWallet or TREZOR (with firmware >= 1.5.2 due to a recent security issue) for a physical cold storage solution.website

TOKEN CROWDSALE

As displayed in the pie chart above, the token crowdsale is divided between multiple factions. 70% of the tokens will be distributed amongst crowdsale participants. 10% will be distributed amongst the founding team and advisors. 10% will be reserved for long-term operational costs and new advancements. 5% will be reserved to be distributed to new partnerships in the form of signing bonuses. The remaining 5% will be reserved for and split between our promotional bounty and diligent bug bounty programs. All value transferred in exchange for OWL tokens during the crowdsale is the revenue of Minerva Technologies S.a.r.l.

MINERVA ADVANTAGE

New cryptocurrencies are introduced almost daily and their values can grow exponentially from inception. At the same time, many are abandoned after their novelty and market “honeymoon period,” thereafter quickly falling out of meaningful use. Despite these nascent cryptocurrency market features, it is clear that several statistical properties of the cryptocurrency market have been stable for years. The number of active cryptocurrencies, the market share distribution, and the turnover of cryptocurrencies remain fairly predictable.

SPECIFICATIONS

 TECHNOLOGY

Minerva is presently an ERC20 token and smart contract system built on the Ethereum blockchain. Following this standard, Minerva tokens are easily transferable between customers and approved merchants using ERC20-compatible wallets, and can be smoothly integrated into exchanges.

SERVICE AND APPLICATION LAYER

Certain OWL tokens will be held and issued to approved merchants to serve as “signing bonuses” subjected to a slow-time-release algorithm and distributed on a first-come, first-served basis at a variable percentage of the bonus vault until a point where the vault becomes nearly exhausted and a signing bonus is fiscally inconsequential.

 

This is in addition to bonus Minerva OWL tokens issued to approved merchants via Proof-of-Transaction at a variable rate designed to ease inflation and combat violent price swings. With this model, OWL tokens can be exchanged for services on integrated platforms and released back into the market by approved merchants, thereby creating the added monetary value. Excluding the initial token distribution event, OWL tokens cannot be generated by any other method.

 

This fundamental revenue-generating aspect of Minerva allows approved merchants to increase their revenue immediately upon implementation, and grants more flexibility to these merchants to reward their customers with discounts.

CRYPTOGRAPHIC AUDIT

The Minerva team commits to subjecting its platform to comprehensive security audits. We will implement multiple strategies to provide maximum transparency in our funds management. The goal is to prove the following:

1. All profits are properly recorded.
2. The company is in possession of all declared funds.

For each platform that accepts the Minerva OWL as a payment method, we will create a view-only API key which will allow anyone to verify the balance and trade history of its account. To prevent abuse, monitoring and resource tracking will limit users from the exploitation of reward rate loops.

INTEGRATION

PLATFORM INCENTIVES

Minerva provides a generous reward system for businesses that accept it as payment. Upon receiving Minerva OWL tokens, each business is issued a bonus that resembles a credit card’s “cash back” incentive. When Minerva OWL tokens are received from their customers, they are automatically liquidated.

1. Instant liquidity via API from Minerva-relevant trading exchanges
2. The elimination of chargebacks and exchange fees
3. Additional protection from violent short-term price fluctuation
4. Reverse transaction fees. We pay them, not the other way around

RISK MITIGATION

The founder of Ethereum, Vitalik Buterin, has said, “There would then be multiple separate classes of cryptoassets: stable assets for trading, speculative assets for investment, and Bitcoin itself may well serve as a unique Schelling point for a universal fallback asset, similar to the current and historical functioning of gold.” While Bitcoin itself is not the unique Schelling point, our aim is for OWL to become a comparatively stable cryptocurrency which allows businesses to benefit by simply accepting it as a method of payment. The reward system is designed so OWL tokens enter the economy at variable rates, making efforts
to ensure that demand does not cause short-term violent price swings. As is evident below with our first and immediate use case, we will be integrating with a large company at launch, and future businesses requesting integration will require vetting through a rigorous security-focused protocol. Speculation, exchange scams, drug markets and the common negative publicity of cryptocurrencies will all have little-to-no impact on our partnered platforms. Minerva tokens have utility beyond speculative value as they represent an applicable purpose of value between platforms and customers, as well as agents, contractors, vendors, content creators and more.

USER BENEFITS

When customers pay using Minerva’s OWL token, approved merchants have more flexibility to offer them discounts. This is because, rather than paying transaction fees, Approved merchants can be paid bonus OWL tokens at the time of each approved transaction. Users are able to purchase OWL tokens from any exchange or market where they are traded, transfer them to one of many ERC20-compatible wallets and spend them on Minerva-integrated platforms.

CONCLUSION

Minerva is a platform and its token is designed to be used as a currency; employing methods to influence the supply of the OWL token, we aim to combat extreme short-term price swings that plague other cryptocurrencies. We employ a smart money cycle powered by real economic activity and business incentives. A positive feedback loop occurs that expands the Minerva market: The more incentives we provide for businesses to accept the Minerva OWL, the more purchases will occur. The more purchases that occur, the less impact speculation will have on Minerva’s market price. The less impact speculation has, the more stable the
market price will be. The more stable the market price, the more purchases occur. If the value of the OWL token increases, more incentives are provided to businesses to accept it as payment, therefore increasing the supply and stabilizing the market price. If the value of the Minerva OWL decreases, more incentives are provided to freeze Minerva OWLs in the MVP contract, effectively decreasing the supply and stabilizing the market price. In our quest to stabilize the Minerva OWL we have spent considerable time ensuring that our volatility model is both viable as well as the most optimal decentralized cryptocurrency stabilization solution to date (outside of fiat tethering, a system reliant on cash reserves that presents non-trivial risks of frozen assets via the direct and indirect affiliations to traditional bank accounts). Additionally, fiat tethering prohibits cryptocurrencies from appreciating or depreciating in value in a volatility-tolerable manner and is limited in its flexibility and application in comparison to Minerva. As an endeavor in “smart money” and “reverse merchant processing,” we assert no claims regarding any
initial high volatility in market behavior or outcomes for an unspecified period of time as Minerva becomes institutionalized through community participation, platform integration, and the utilization of MVP (Minerva Volatility Protocol).
Market simulations aside, we use real-world field testing to produce critical data with our immediate largescale use case. We expect to encounter challenges, and we expect to overcome them. We will continue to work with accredited economists, mathematicians and programmers with the goal of producing the most optimal Minerva-compatible stabilization model achievable.Though concerted time and effort will be needed, it is a realistic expectation that Minerva and its OWL token will become one of the most enterprise-friendly platforms and cryptocurrencies available.

FOR MORE DETAIL :

Website : https://minerva.com/

Whitepaper : https://minerva.com/whitepaper.pdf

Bitcointalk Profile : https://bitcointalk.org/index.php?action=profile;u=1299271