Mithril Ore Token is a novel utility token for several unique reasons. It is first in the market to be backed by Ethereum. As a result, it will serve as the first â€˜Casperâ€™ mining pool to the digital token Market. â€˜Casperâ€™ is known as the â€˜Proof of Stakeâ€™ or POS upgrade of the Ethereum blockchain. This particular upgrade goes green regarding energy usage, in which the Ethereum blockchain no longer uses energy-wasting â€˜Proof of Workâ€™ mining, but rather, more secure, energy saving POS. In order for POS to be profitable for those with limited Ether, they will need to pool Ether with others. Mithril Ore is the first advanced staking pool to the market and will utilize this service in a crowd-friendly way.
One hundred percent of the Ethereum raised in the Mithril Ore token crowdsale will be placed into the Ether Pool â€“ with none taken as profits. As an additional feature of the Mithril Ore token, all staking gains from â€˜Casperâ€™ will also be returned to the Mithril Ore Ether Pool for increased stake value; thereby, adding to the Mithril Ore token base value.
Mithril Ore tokens are limited in number and therefore scarce. In future years, we will offer the â€œblacksmith option,â€ which will be offered to consolidate Mithril Ore tokens, generating new specialized item tokens. With consolidation, â€˜blacksmith mintedâ€™ item tokens offer annual, limited time, limited edition tokens that connote concentrated values and privileges to tokenholders.