Fordecades,theBigMachasdefinedAmericanculturearoundtheglobe.Importanttothefutureofhumanity,theBigMachasalsopoweredacurrencyfitforthemodernera:theMacCoin.IntroducedbyMcDonaldslatelastyear,theMacCoinisastablecoinfullybackedbyBigMacs.
WearepleasedtoannouncethatKrakenwilllistMacCoin(BMAC).BMACtradingstartsTuesdayApril2!
Whenisgrubtime?Theapproximatelaunchtimegloballyis:PT:TuesdayApril2at8:00amET:TuesdayApril2at11:00amUTC:TuesdayApril2at3:00pmCEST:TuesdayApril2at5:00pmHKT:TuesdayApril2at11:00pm
NotethatsellorderswillnotstartappearinguntilafterthefirstBMACdepositsclear(about3-5daysafterlaunch).Thelaunchtimeisapproximateonlyandit’spossiblethelaunchmightbedelayed.Pleasefollowourstatuspageforupdatesaroundthetimeofthelaunch:https://status.kraken.com/
DeliciouspairingsBMAC/USD,BMAC/EUR,BMAC/XBT,BMAC/FRY,BMAC/KO
HowtogetMacCoinMcDonaldscustomerscanreceiveaMacCoinwiththepurchaseofaBigMacat14,000participatingrestaurantsacrosstheU.S.,whilesupplieslast.
HowtoredeemMacCoinMcDonaldscustomerscanredeemtheirMacCoinfortheunderlyingasset,aBigMac,atparticipatingMcDonald’srestaurantsintheU.S.andinmorethan50participatingcountries.
AllIknowisthatwhenIneededMcDonald’s,McDonald’swasthereforme.?-JamesFrancoHowtodepositNavigatetoFunding>Deposit>MacCoin(BMAC)togenerateashippinglabelforourvaultingfacility.Weareproudtopartnerwith@bitstein’sCarniVAULT,designedby@zooko,auditedby@safiedean—guysyoucantrustwithyourcarbs.
ConfirmationsrequiredbeforedepositscreditShippingusuallytakes3-5businessdays.OncephysicalMacCoinsarereceived,thedigitizationprocessandcreditofBMACtoyouraccounthappenssame-day.Note:despitethelegendaryshelflifeoftheBigMac,wecannotacceptdeliveryofMacCoin’sunderlyingcoreasset,noranyofitscomponents.Extrapicklesareappreciated,however.
WhatisMacCoin(BMAC)?WhentheBigMacIBO’d(InitialBurgerOffering)at$0.45in1967,theassetcameataround500calorieswithaninnovativechainedstructure:bun,beef,bun,beef,bun.Foodconnoisseursfoundthisstructureespeciallyconvenientfortransmittingspecialtysauce,pickles,lettuce,cheese,andonion.Asidefromarecentsoftforktoenablebacon,thatunderlyingprotocolbehindtheMacCoinremainsunchangedtoday,andforgoodreason:thecalorietocostratioisunrivaled,andthepriceoftheBigMachascontinuedtosteadilyriseagainstfiatcurrencieslikeUSD.Theutilitycannotbequestioned.
PriceofMacCoininUSDandEUR.?Source:BigMacIndexSourceDataWeknowthepricehistoryofMacCointhankstoTheEconomist,whichbegantrackingthepriceoftheBigMacagainstgovernmentfiatcurrenciesin1986asawaytosuggestidealexchangeratesbetweenthesegarbagealts.Thisyear,themagazineannouncedthe“BigMacindexhasbecomeaglobalstandard,”andweatKrakencouldnotagreemore.
PriceHistory1967IBO(InitialBurgerOffering):$0.4552-WeekHigh:$5.58(April1,2019)52-WeekLow:$5.28(April1,2018)
TechnicalsConsensusMethod:ProofofSteakBlockProducers:McDonalds(centralized)Supply&Inflation:unknown,thoughmostnewBigMacsareconsumedimmediatelyuponproduction
Projectwebsite:https://news.mcdonalds.com/stories/our-food-details/big-mac-50-history-infographic
ArbingtheMacPremiumOfferingBMACprovidesKrakenclientstheexclusiveopportunitytomonetizetheMacPremium,anotherkindofjuicyspread.NolongermustthisarbitragebeconfinedtoourcollectiveabilitytosmuggleBigMacsthroughcustomsaroundtheworld.
Thetradeissimple:buylow,sellhigh.Let’swalkthroughanexample.
AcquireyourBMACinalow-cost,participatingcountry–saytheUAE–for$3.81andsellittostarvingtradersinSwitzerlandforasmuchas$6!Yournetprofitcomesoutto$1.81perBigMac,awhopping48%ROI!
Checkthefigureabovetoplotoutyourtradingstrategy.WillKrakenlistmoreassets?Wecannotrevealanydetailsofforthcominglistingsbutthenextone’ssuretobeawhopper.
WillBMACbeincludedintheHappyBundle?Krakendoesn’tsupporttheHappyBundlebecauseit’sobviouslyascamonretailnoobs.
InvestwithcautionListinganassetortokenontheexchangedoesnotconstituteanendorsementbyKraken,norinanywayarecommendationtobuyorsell(oreat)theasset.Whilewedoextensiveresearchinourevaluationofanassetbeforelisting,wefocusonaspectsoftheproject’slegitimacy(isitmelty,isittasty),andontheabilityofourvaultingpartnerstostaveoffhungryHamburglers.Ourresearchdoesnotinanywayconsiderwhetherthepriceorcaloriesarecurrentlyjustified,orlikelytogoupordowninthefuture.Doyourownresearchandeatatyourownrisk.
DinewithcautionYoushouldalwaysconsidertheavailableliquiditywhendininginanymarketandmanagethisriskaccordingly.
someabswereharmedinthemakingofthisblogpost
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