Ormeus Global announces the release of Ormeus Coin (asset symbol ‘ORME’). The real-world value of this new token is secured and cryptographically linked to a publicly verifiable reserve of Bitcoin, the ‘gold standard’ of cryptocurrency. The bitcoin reserve known as the Ormeus Reserve Vault (hereafter “ORV”) is a multisignature Bitcoin wallet funded by the ongoing industrial bitcoin mining operations of Ormeus Global.
These operations have an initial baseline hashing power of 30 PH/s. This hashrate will be continuously upgraded by allocating proceeds derived from the sale of ORME tokens. Unlike other static or semi-static bitcoin-backed cryptocurrencies (which are historically highly speculative in nature and backed by token sales alone) Ormeus Coin will be backed both by token sales and a geographically diverse industrial cryptocurrency mining operation.
This predefined mechanism to facilitate the continual accumulation of hashing power will result in the ORV having a constantly increasing reserve store of bitcoin which eectively distinguishes ORME as a stable store-of-value.
Ormeus Coin
