Digital Currencies
What Are Munhumutapa Currencies?
Munhumutapa Currencies are monetary digital tokens issued on the platform through the Shamwari betaChain.
These currencies are equipped with an array of customizable monetary properties that together may form a workable monetary policy for any issued currency.
Munhumutapa Currencies can only be issued by the developers of the platform on behalf of the governor of the currency. However full control of the currency is with the governor from its issue.
Shamwari Bank APICurrency Monetary Properties
Currencies issued on Munhumutapa are furnished with a set of monetary properties which allow governors to control and administrate their issued currency.
Currency Supply
Currency supplies can be increased through minting up to a preset total quantity which provides flexibility for currency usage and governance.
Currency Divisibility
Based on the decimals assigned to currencies at issue, they can either be divisible to the set decimals or not at all.
Currency Hash Algorthm
Currencies can be issued under a hash algorithm type which secures the currency and determines its core encryption. This encryption also extends to minting of new currency units where currencies are issued as mintable.
Currency Governorship
Each currency is issued with a governing account. The governing account of a currency is the sole account that can change the properties of a currency and any property changes become binding to all current holders and future holders of the currency aa well as transactiona from the height of change.
Currency Types
Currency properties are dependent on the type of currency type assigned to it at issue. Types of currencies:
Taxed
Taxed currencies are those currencies that attract a tax deduction on transfers involving that particular currency. Tax rates for these types of currencies can be adjusted after a currency has been issued provided they are issued as a taxed currency type and thresholds for taxation can also be set and adjusted.
Limited
A currency is LIMITED if it carries transactional limits on its issuance properties. Transactional limits are set based on time periods i.e.
Controllable
Currencies that are controllable are only available for transfer to and from the currency governor exclusive and therefore their transactions are limited to those which involve the governing account.
Exchangable
A currency is EXCHANGABLE if it can be traded against the betacoin of its host chain i.e. WEALTH Coin. If not, the currency is subsequently not tradeable on the chain.
Mintable
Mintable currencies have supplies which can be increased from a current circulating supply to a preset maximum supply set for the currency. The increase in supply is achieved through minting/mining the currency. The minting process is based on a standard Proof-Of-Work(POW) process which mints new currency units.
Shuffleable
Shuffleable currencies are those which can be shuffled to mask transactions involving these currencies. Unlike othe currency types, shuffleability is an opt-out type and as such it has to be specified on issuance otherwise a vurremcy is issued as Shuffleable.
Bureau du Change
Currencies can be issued exchangeable or not on a dedicated decentralized Currency Exchange built in the system. The exchange allows for the conversion of currencies to the MARI betaCoin and vice-versa making it possible to exchange one currency for another. On the exchange, accounts can directly exchange currencies or publish buy and sell offers.
Currency Transactions
Tranfers
Currencies can be transferred from one account to any another provided the currency not a controllable. Transaction fees for currency transfers is paid in MARI betaCoin whereas taxes are paid in the transfered currency.
Exchanges
If exchangeable, currencies can be exchanged for WLTH coins or vice-versa through the Currency Exchange dex. Like transfers, fees for exchange offers to sell or by a currency are paid for in MARI betaCoin.