Singapore, Singapore – (NewMediaWire) – November 20, 2022 – Simandou Protocol, created by Probe Builders, recently has declared the “Second Curve” of Crypto, committed to introducing all RWAs into the Probe Ecosystem, and to becoming the most popular “Real Protocol”.
Simandou Protocol launched on November 18, 2022 in Simandou, Guinea, unlocked the “reality” of the crypto industry, from which day, Simandou Protocol is aiming to letting the “Real Protocol” of the Probe Ecosystem are beginning to be of greater significance than the “Smart Contract” of the Ethereum Ecosystem.
Simandou Protocol, based on the concept of “Protocol First”, the idea of which lies in the different protocols that Probe has launched. Simandou Protocol is focusing on RWA-CeFi, RWA-DeFi and Myth Mines, is known as the very first one to be lit, and illuminating upon the “secondary curve” that the entire industry has been looking for.
Simandou Protocol relies on the physical mining Simandou mine to support its cryptocurrency economic model. Simandou mine, is a large iron mine located in the Simandou mountain range of southern Guinea’s Nzrkor Region, representing one of the largest iron ore reserves in the world, having estimated reserves of 10 billion tonnes of ore grading 65% iron metal
In November 2019, SMB-WINNING CONSORTIUM, a consortium set up by Winning International Group from Singapore, China Hongqiao, and UMS Guinea, wins the tender for 360-square-kilometer North Blocks 1&2 of Simandou’s iron ore deposit at the price of $14 billion, and was granted with the Mining Concession at March 2021. The 370-square-kilometer Simandou South Blocks 3 & 4 are held by Simfer S.A, a joint venture between global mining giant Rio Tinto and global aluminum giant Chinalco.
The Probe Consortium is the core force in the early construction of Probe Ecosystem (also known as Probe.Builders) holding Serving 3 Billion Digital Nomads in the 21st Century as their mission. On the homepage of its official website, the slogan, “Bridging the Wealth of web2 and web3”, is particularly eye-catching and inspiring. And different from the practices of the traditional mining industry, the billions-of-dollars-worth mines acquired by the Probe Consortium this time are positioned as RWA (Real World Assets), which were to be injected into the newly launched Probe Ecosystem. Asset import at this size is the first time that the crypto industry has ever seen for the past ten years or so.
About Simandou Protocol.
Simandou Protocol consists of three different essential parts, namely the RWA-CeFi, RWA-DeFi and Myth Mines:
1. 20% of the mining concession will be pledged to well-known international commercial bank, with the goal of obtaining fiat currency liquidity of no less than $500 million, so as partially satisfied the demand for fiat currency liquidity in RWA-DeFi;
2. 30% of the mining concession will go listed through IPO or SPAC with the timetable of no later than the third quarter of 2023, to raise $1 billion from the public market to build Africa’s largest steel plant in Guinea and other supporting infrastructure, with a view of officially starting mining no later than 2025.
About RWA-DeFi and Myth Mines
The remaining 50% of the mining concessions are pledged through the Simandou DeFi contract on the ProbeChain which committed to becoming the Global Public Ledger, and based on which 5 billion “Simandou tokens” (SIM) have been issued. All SIM holders are entitled to collectively share up to 50% of the profits generated from production of the mines and the Guinea steel plant until 2038.
1. 500,000,000 SIMs: open for public purchasing at the price of 1 USDP/SIM in Myth Mines App. The Simandou DeFi contract will be automatically triggered after 7 days of the purchase. The lock-up period will be 360 days, and the annualized 15% interest will be released on a daily basis. The unlocked SIMs can be pledged to specified commercial bank, or exchanged for Simandou stocks in the traditional capital market, or invested in other mines in the Simandou Protocol;
2. 500,000,000 SIMs: Through cooperation with The Economic Community of West African States (ECOWAS), by the end of the first quarter of 2023, to be airdropped to 50 million Wallets in Myth Mines App(including 10 Million for Guinea Citizens). Users can use their SIMs in the stores and applications within the Probe Ecosystem, helping Probe to complete the first non-linear growth and to achieve the tens of millions of user-level;
3. 4,000,000,000 SIMs: Distributed to the games in Myth Mines App, users can only get it by participating in the games. The first batch of games will be officially launched at the start of the second quarter of 2023.
In the near future, Simandou Protocol will release the airdrop of Myth Mines.
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