The Token Economy
What is Miris X
The Miris X platform was built by Miris to remove the friction that comes with investing in property. Miris X makes raising capital for new projects faster, cheaper and more efficient while giving you, our investor, full control and transparency into your investments at all times.
How does it work?
Miris X has removed the costs and friction associated with issuing traditional bonds and equity by tokenising these traditional financial instruments on a public blockchain. Our tokens are built with smart contract technology and function identically to their traditional counterparts with the added benefit of being completely tamper-proof and recognised by the Norwegian regular.
For every token sold on the platform, records are updated constantly and logged with the Norwegian companies registrar, making the Miris X platform completely transparent and auditable.
How do I invest?
- Sign up on the MIRIS investor platform by filling in your details
- Provide the necessary KYC documentation
- Deposit funds from your bank account into the platform
After you have completed these steps, you can browse all active projects on the platform. From there investing is as simple as picking a project that suits your requirements, clicking the “invest” button, choosing how you would like to fund your investment and how much you would like to invest.
How long am I locked in to an investment?
Unlike many traditional financial instruments, tokenised investments are very liquid. At minimum you will be ‘locked into’ a project until it has been fully subscribed (funded), after this you will be able to sell your tokens on the marketplace, or swap your investment between projects.
What is a token?
Tokens are an immutable digital representation of a particular asset or utility. Tokens usually reside on a blockchain that acts as a publicly auditable ledger or registry that keeps track of their contents and transactional activities (how they are used or exchanged). Tokens can represent any asset that is tradable, from currency or commodities to loyalty points. Within the Miris X platform, an equity token is a representation of an investors ownership stake in a particular project, while a debt token can be thought of as a traditional bond which pays interest over time.
Why use blockchain?
The main benefits of a blockchain is its transparency and its immutability. This means that all transactions that take place on Miris X are visible to the public. While personally identifiable information remains private, anyone, including the regulator but especially you as an investor are able to see all the transactions that take place on the Miris X platform. What this means is you are able to see exactly where the money you have invested in a project is being used, you can see if that money is going to suppliers or some place else. You are able to see exactly how much money each project has raised, how much money it has spent over time, how much other investors have invested in it, how many other investors have invested in it. Miris believes that as an investor you have the right to see exactly how your money is being used.
Regulators are easily able to audit and monitor the contractual commitments and financial flow activities of the ecosystem to ensure that all legal and ethical requirements are met.
What is a Stable Coin?
A Stable Coin is a type of tokenised fiat currency where its price is always pegged to a fiat currency. It is not impacted by the price volatility of cryptocurrencies such as Bitcoin or Ethereum. Stable coins are always collateralised by fiat and thus always redeemable for fiat. They are a very good way to move money on the blockchain transparently and without currency risk.
Why is there an 'M' before the currency symbol in my balance?
The 'M' is for Miris. All fiat currency is prefixed with the 'M' symbol on the platform to represent that it is a Stable Coin created by Miris and pegged 1:1 with its fiat counterpart.
What is Fiat currency?
Normal money, backed by the government such as EUR, USD, NOK, GBP, JPY etc.
Who creates these tokens?
Tokens are issued or “minted” by Miris. However the supply is finite and limited to the funding goal of the project. Once a project has been created and tokens minted, Miris can not tamper with the tokens in circulation. If Miris needs to raise additional funding, there would need to be consensus among the existing investors before Miris could create an additional round of funding.
Who sets the prices of the tokens?
Miris decides on the starting value of a token while they are selling these tokens to investors. Once all tokens have been sold, the pricing will be determined by the marketplace where investors are able to trade their tokens freely with other investors.
How to withdraw my money?
If you are holding currency tokens, you are simply able to add your bank account and request a withdrawal directly from within the Miris X platform. Withdrawals are processed immediately, but may take a few days to clear in your bank account depending on the banks clearing schedule. International accounts can sometimes take up to 7 days for funds to clear.
What currencies does Miris X support?
At the moment we are only accepting funding in NOK, EUR and USD, we will be adding multiple currency support in the future.
I don’t have an email address, how can I invest?
Please contact Miris support on the contact number provided and we can discuss setting up and managing an account for you.
How long does it take for my profile to be made active after signing up?
If you have made sure to submit the required documentation, your profile can take up to 3 days to be validated.
I made a deposit but it’s not showing up yet
Depending from which bank you are making the deposit it could take up to 7 days to clear into our account. Once it has cleared it will be added to your balance immediately.
What happens if I forget my password?
You can reset your password by using this form.