Via a Monday news release, the Board of Directors of the Southern New Mexico Trade Xchange (SNMTX), a U.S.-based trade exchange in Las Cruces, announced the launch of the region’s first Cryptocurrency called ZiaCoin.
According to SNMTX officials, ZiaCoin is an “asset-backed, peer-to-peer, utility token, built on the WAVES blockchain.”
SNMTX officials explain that as the volume of tokens exchanged for products and services grows, so does the transfer rate of the tokens. As the transfer rate increases, the value of ZiaCoin tokens increases as there is a finite supply of tokens available.
“The use case of ZiaCoin tokens is to create a marketplace that connects buyers and sellers that facilitate transactions utilizing ZiaCoin utility tokens as the preferred medium of exchange via the online marketplace...also, through the use of ZiaCoin Gold tokens as a joint investment share of accruing hard assets,” officials added.
“ZiaCoin consists of two utility tokens, ZiaCoin Classic and ZiaCoin Gold. ZiaCoin utility tokens are asset backed with the products and services of SNMTX Crypto Barter and Trade Xchange. ZiaCoin tokens are non-government, community controlled crypto-currency.”
ZiaCoin will begin distribution via AirDrop to SNMTX members and WAVES wallet holders who sign up via their AirDrop order form. To sign-up for the free AirDrop, click here.
For more details and to view the White Paper on ZiaCoin, visit the SNMTX website.