pitihcoin: AIS : Mongolia's First Cryptocurrencies Exchange

The blockchain technology started from Bitcoin that had publicated by Satoshi Nakamoto since 10 years ago. There are about 1600 cryptocurrencies distributed network systems. The number of cryptocurrencies increases. It is meant the number of cryptocurrency exchanges will also increase. As the number of cryptocurrency increases, the need for a safer, simpler, easy-to-use cryptocurrency exchange will also increase. The cryptocurrencies are utilized as personal financial assets. The AIS Project plan to establish a one of kind cryptocurrency exchange in Mongolia. By investing in cryptocurrency mining and resource mining, AIS will be able to share with the coin holders profits from the exchange platform and mining projects. Choosing the right cryptocurrency exchange will become very important with the most trading amount the best, the most listed cryptocurrency the best, the transaction data is safe, functional the management system, the cost per transaction.

Mongolia is a state surrounded by Russia in the north and China in the south. Mongolia is one of the unique countries with the population concen-trating in a single city. Real-estate investment became a boom. Mongolia has an enormous amount of mineral resources that attracted the attention of the world. Mongolia is a resource-rich country. The Mongolian government promotes the development of the mining sector for gold, bronze, coal, and rare metals. The mining sector has been one of the largest domestic industrial sectors. By affiliating with a bank in Mongolia, account activities will become possible with the bank and the cryptocurrency exchange AIS-X.

Registered user of AIS-X will be able to set up a bank account with the affiliate bank. Purchasing of cryptocurrency using legal currency on the AIS-X exchange. Exchanging cryptocurrency retained in AIS-X exchange account to legal currency (MNT, USD). Issuing a new debit card from affiliate bank.

Business Partners in Mongolia

a. NI Bank (National Investment Bank of Mongolia)

b. Sharyn Gol JSC Mining Company

Mongolia's largest industry, the mining of metal, gold, coal

c. EFS (Express Finance Service)

EFS is a non-bank loan service institution and part of the NI Bank group. With EFS, AIS-X users will be able to use cryptocurrencies as securities for taking up loans in either cryptocurrency or legal tender. Using this loan system lowers the burden of taxation for the users, as they don't have to sell cryptocurrency whenever they need funds.

AIS token is a native coin of the crypto-currency exchange AIS-X.There are two basic features of the AIS token : function tie and to the exchange and profit sharing.

Functions tied to the exchange

Registered users will be ranked according to the amount of AIS token held by the user. Discounts for various fees will be provided for 2 years. AIS would provide several key cryptocurrency pairs. At the start of the operation of the cryptocurrency exchange in Mongolia,AIS will have the following key cryptocurrency pairs : AIS, USDT, BTC, XRP, ETH. AIS plan to give voting rights to select ICOs to be listed at AIS-X to users possessing the AIS token. Users will get profits from three sources̶profits from the cryptocurrency exchange, cryptocurrency mining enterprise, and resource mining enterprise. There will be a token lock up period. All tokens will be locked for a period of 12 months. 1/12 of the locked tokens will be unlocked every month for the user to use in transactions.Tokens acquired through the bounty program and referral bonuses will be fully locked for a 6 months period. After the fully locked period, bonus tokens will be the same as normal tokens and 1/12 of the locked tokens will be unlocked every month.

Profit sharing
Handling fees are required when using the exchange. For every cash withdrawal a handling fee will apply.If a project moves to a different exchange a handling fee will apply. The Resources enterprise service fee is used to support a STO project shared with Mongolia's biggest Mining company Shary Gol.By forming a business alliance with EFS and other non-banks, we are planning to offer AIS-X users the option to use cryptocurrency as security for taking up loans in cryptocurrency or legal tender (USD and MNT).