MIIIM | FAQ
Frequently asked questions
What is MIIIM?
MIIIM is a marketplace that connects impact driven startups with all types of collaborators and uses a token system to reward participants.
What is MIIIM mission?
MIIIM’s mission is to accelerate the creation of impact startups and facilitate a fair redistribution of the wealth creation with the supporting ecosystem.
What is the contribution of MIIIM for startups?
We give startup access to a large team of domain experts who are ready to help the founders on a part time basis. These domain experts range from students who can run social media campaigns to veteran CEOs who can join your board.
What is the contribution of MIIIM for startups?
We give startup access to a large team of domain experts who are ready to help the founders on a part time basis. These domain experts range from students who can run social media campaigns to veteran CEOs who can join your board.
What is the contribution of MIIIM for experts?
MIIIM is vetting all the startups both for their positive impact and for their financial health. Experts can focus on doing what they do and are rewarded with a share of the total equity of the fund.
Is MIIIM a cryptocurrency? Does it use blockchain?
While we are very excited about the capabilities blockchain technology provides for privacy and decentralization we are concerned about the environmental footprint of current implementations.
We would like to wait until new implementations that are more energy efficient are available in particular Ethereum 2.0 that uses proof of stake and reduce the energy consumption by almost 99 per cent.
Our current implementation uses a centralized infrastructure to hold token assignments and transactions. Our roadmap for the next year includes:
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Implement a private blockchain using Ethereum smart contracts
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Launch on Ethereum 2.0 once it is implemented
How do you do startup valuation?
With a Convertible Note, the following round of investors will determine the valuation of the MIIIM Convertible Note
Who decides on the cost of work in MIIIMs?
MIIIM is a market place and we let the startups and experts decide together on the nature and cost of the work.
We provide a guidance of 1,5 MIIIM per hour for a junior or untrained person to work on a project.
What is a convertible note?
A convertible note is a short-term debt that converts into equity at maturity
I am a student, how can I participate?
Being an expert on MIIIM means having capabilities that the startup team does not or does not have time to do. As a student you are already building your skills in few areas where you can have a lot of impact. We recommend that you work on projects where other more experienced experts are able to mentor you and review your work.