MNEE Stablecoin
PROJECT OVERVIEW
Projduct: MNEE - USD-backed stablecoin
Industry: Digital Payments / Financial Services
Website URL: https://www.mnee.io
Geographic Reach: Global, with early focus on Africa and underbanked regions
BSV Integration Start Date: Q1 2024
BUSINESS CHALLENGE
Identified Issues:
Traditional stablecoin platforms often suffer from high transaction fees, long confirmation times, and network congestion.
Financial exclusion persists in many emerging markets due to limited access to affordable digital payment tools.
Conventional systems lack scalability and often rely on intermediary-based infrastructures, introducing latency and trust issues.
Limitations of Traditional Systems:
Ethereum-based stablecoins like USDC and USDT are prone to gas fees and network slowdowns.
Fiat payment systems have high friction and are ill-suited for microtransactions or low-cost remittances.
WHY BSV?
BSV as the Ideal Solution:
BSV offers extremely low fees (fractions of a cent), high transaction throughput, and a stable protocol suited for financial applications.
The ability to mint and transfer tokens instantly using the 1Sat Ordinals protocol allows for seamless peer-to-peer settlement without gas tokens.
Comparison to Other Blockchains:
Unlike Ethereum, which requires gas tokens for every transaction, MNEE on BSV avoids these overheads.
Compared to Solana and Avalanche, BSV offers better protocol stability and scalability at a significantly lower cost.
SOLUTION ARCHITECTURE
Overview:
MNEE is a USD-backed stablecoin built on the BSV blockchain using the 1Sat Ordinals protocol for instant, secure, and efficient token transfers.
Key Components:
Tokenization: Each MNEE token represents a 1:1 value backed by USD reserves.
1Sat Ordinals Protocol: Tokens are inscribed directly onto satoshis, enabling instant transfers and simplified tracking.
No Gas Fees: Transactions incur ~1/10th of a cent, enabling micro and nano-payments.
Partners/Vendors:
MNEE works with custodians to ensure USD reserve backing, and plans further integrations with fintech partners and wallets.
IMPLEMENTATION PROCESS
Rollout Phases:
Phase 1: Token design and launch using 1Sat Ordinals protocol (Q1 2024)
Phase 2: Wallet and API integration, public minting
Phase 3: Expansion into retail and remittance use cases
Integration with Legacy Systems:
Planned API connectivity with banks and mobile money platforms.
Stakeholder Onboarding:
Educational outreach to merchants and fintech developers; integration with wallets and payment apps to improve accessibility.
OUTCOMES & BUSINESS IMPACT
Quantifiable Improvements:
Transaction Fees: Reduced from $0.30+ (traditional platforms) to <$0.001.
Settlement Speed: Near-instantaneous token transfers.
Accessibility: Support for micropayments and underserved markets.
Before vs After:
Traditional stablecoins: Slow, expensive, and require gas.
MNEE: Fast, cheap, user-friendly, gas-free transactions.
Feedback:
Positive responses from developers and early adopters; strong interest from African fintechs looking to expand cross-border services.
CHALLENGES & MITIGATIONS
Challenges:
Educating users unfamiliar with Ordinals and BSV ecosystem.
Establishing trust in the USD reserve backing.
Mitigation Strategies:
Transparent reporting and reserve audits.
User-friendly documentation and wallet integrations.
FUTURE VISION
Expansion Plans:
Broader rollout across Africa, Latin America, and Asia-Pacific for remittances and ecommerce.
Partnerships with local fintechs and neobanks.
Upcoming Features:
Integration with POS systems and QR-based payments.
NFT-styled digital collectibles and programmable financial instruments on 1Sat Ordinals.
Last updated