Inflation is the gradual loss of purchasing power the FIAT currencies suffer as central banks increase the supply of the currency. It is one of the biggest problems of our generation. One way to hedge against inflation is by investing in scarce assets that rise in price as inflation increases.
Florin Coin (XFL) intends to provide a hedge against inflation by implementing a structure that limits supply (much like other crypto coins). They also have a unique way of rewarding miners and holders of XFL.
FLORIN IS CRYPTO DESIGNED FOR VALUE
STORE OF VALUE
The developers state that the idea is simple: scarcity. Something that FIAT currencies don’t have. It is an easy-to-use crypto coin that uses proven technology to achieve this extreme scarcity, which grants it its value.
There will only be a max supply of 210,000 XFL coins. The current supply is 135,201. The current market cap is 55.62 Million.
Rewards For Holders
Holders can lock their Florin for a certain period of time and leave the Florin application on. The Florin blockchain randomly picks an active application to confirm transactions every 5 minutes. The holder that successfully confirms transactions receives 0.075 Florin.
In order to participate in the Holding system, you will need to lock your coins up for a minimum period of 2 months.
The maximum you can lock your coins up for is 3 years.
A holding account can be extended during the holding period but never shortened.
Florin Mining
Miners can use the Florin application to use the computing power of their computer to confirm transactions. Every 5 minutes a transaction can be confirmed. The miner that successfully confirms transactions receives 0.025 Florin.
Price Movement In February
The Florin Token started the month at $64. It is now trading at $467, a 730% increase for the month so far. It would be hard to attribute a reason for the incredible rise with certainty aside from a general rise in popularity and adaptation. However, the Consumer Price Index did print a 7.5% increase in price inflation earlier this month. That is a level not seen since the 1980s. See the following article:
Maybe it is more than a coincidence. Nevertheless, this is a coin to watch in the future.
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