#sidrabank ⚙️Regarding your questions about the Sidra coin⚙️
✍️Comparison with Ethereum or Bitcoin: It's not recommended to directly compare the price of Sidra coin with major cryptocurrencies like Ethereum or Bitcoin. These are established cryptocurrencies with different use cases, market dynamics, and factors influencing their value.
✍️Mission to Solve Access to Finance: The mission of providing access to finance for starting businesses is an important aspect of the Sidra project. However, this doesn't directly imply that the price of Sidra coin will increase. The focus seems to be more on fostering economic activity and circulation rather than holding the coins for long-term value appreciation.
✍️Zakat on Unmoved Coins: To encourage circulation and avoid the 'hodl' concept, Sidra has a policy where zakat equivalent to 2.5% is applied to unmoved coins held for more than a year. This is intended to promote the active use of coins within the ecosystem.
✍️Price Calculation Formula: The price of Sidra coin is calculated based on a unique formula:
✍️Total Coins Generated: First, the total coins generated via KYC-verified users in each country are considered.
✍️Average Wages: The average wages in each country are assessed based on global indexes.
✍️Country Coin Ratio: The proportion of coins from each country is calculated.
✍️Final Price Calculation: This ratio is then applied to the global amount of generated supply to determine the final price.
✍️This formula indicates a methodical approach to pricing, factoring in economic variables from different countries. Such a method is more reflective of real-world economics and user participation than speculative trading.
In conclusion, the Sidra coin's utility and value are closely tied to its ecosystem's activity and the broader mission of facilitating access to finance, rather than speculative trading or holding for asset appreciation. May God bless the entire process and endeavors of all involved.
Like ❤️ | Repost 🔄 | Comment 🖍️
Link to join https://www.sidrachain.com/u/otmfati
#sidrabank
#sidrachain
#sidracoin
#pi network
