PICISI, a pre-launch start-up, is a crowdfunding site designed to accept national currency (USD, EUR, GBP, etc …) and crypto currency (CC). It is being positioned as an influential player in the CC space. Recently it quietly issued its currency (Pi) on NXT’s Monetary System.
The currency affectionately name Pi, short for PICISI, has a currency code NUMUS, which is latin for currency. Pi was designed with a specific supply, demand, and value in mind.
The total supply is fixed at 500,000 units approximately 5x the anticipated average monthly use volume,
Primary demand for Pi will come as a:
• short-term debt instrument to raise funds for site development and multiple licenses,
• day-to-day means of paying for global services rendered,
• CC option for campaign organizers, and
• CC payment option for PICISI sponsors
Major factors that will determine Pi’s value are the prices PICISI will pay for global services rendered to it by the various Promotion Contractors that complete various assignments and subsequently paid with Pi; and the rate at which PICISI will buy Pi on the open market. PICISI uses fiat derived from earned fees to purchase Pi at the exchanges where Pi is listed. If an official exchange sponsor is present PICISI will purchase Pi exclusively at that exchange.
NXT developers have indicated that NXT’s MS currencies are not designed for ‘off the shell’ integration into any exchange platform. However according to jl777, an influential CC developer and high performing NXT Asset manager: ‘for the exchanges that already support NXT assets, they would simply change “transferAsset” API calls to “transferCurrency”. since they use nearly the identical syntax’.
Pi is viewed as an ideal test subject because PICISI is in pre-launch mode and it has a small community of supply-side and demand-side participants: investors, sponsors, admins, and Promotion Contractors. An undisclosed number of CC exchanges are being approached to test Pi at their respective exchanges.
Will Pi live up to the expectations place on it, will it find a place among NXT’s proven high performing instruments, only time will tell for sure, but my guess is ABSOLUTELY.
NXT has grown from an innovative CC to a financial ecosystem. As a currency NXT performs at the upper levels of all ranking charts, as an asset platform NXT has a stable of high performers burning up the charts; and now with NXT’s new Monetary System more high performance is expected.
Read more about Nxt Monetary System