MASS stands for Masternode And Staking Service, also, because of the mechanics of the project, and the ability for all of the assets in the MASS pool to grow, we felt this was a perfect name.
Masternode and staking service
$1,416,404 raised. MASS is an acronym for Masternode And Staking Service, indicating the proposition behind the MASS project - users contribute to a fund in exchange for MASS tokens that entitle the holder to a share of the staking reward proportional to the amount of MASS token value users have assigned for staking. MASS will use the Ethereum collected in their crowdsale to purchase sufficient amounts of various cryptocurrencies to run a masternode if the option is available (e.g. Dash, where 1000 coins must be staked to become a masternode operator) or to stake high reward coins that will retain or appreciate their value. 10% of MASS generated in the crowdsale will be routed to an operational fund to help the MASS team optimize the security and smooth operation of the platform during the first year, and 100% of payments from masternodes and staking rewards will be distributed proportionally among token holders. MASS will use a private network with VPN tunneling to a DDoS protected public IP address to maximize the security of both user allocated funds and of the masternodes and staking wallets themselves. The total value of contributed Ethereum will be used to fund the nodes and wallets, but only users who stake their MASS tokens will receive payouts in proportion to the total amount of all tokens they hold and the duration of a payout period the tokens have been staking (i.e. tokens that were unstaked and then staked halfway through a period will receive 50% of the associated proportional payment), while any undistributed payments go back into the pool of funds. A smart contract will administer the funds and will also publish all relevant information, including the address of staking wallets, listing the current and upcoming staked currencies, and keep a public record of all expenditures and payments made to contributors.Users wishing to exit the program will be able to remove and burn their MASS tokens for the equivalent amount in the funded Ethereum pool less a 10% fee to discourage impulsive or predatory withdrawals.
Provides a new method of investing into proof-of-stake (PoS) cryptocurrencies that pays out block rewards automatically and fairly across all token holders
Masternode And Staking Service
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