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MIIIM | FAQ

  • How can I participate if I am a student?
    Being an expert on MIIM means having abilities that the start-up team doesn't have or doesn't have time to do. As a student, you are already developing your skills in a few areas where you can have a lot of impact. We recommend working on projects where other more experienced experts can mentor you and review your work.
  • How do you valuate the startups?
    With a convertible note, the next round of investors will determine the valuation of the MIIIM convertible note
  • What do we mean by impact?
    Your startup must contribute to one of the 17 United Nations Sustainable Development Goals. An impact startup is based on intentionality where there is a desire to contribute measurable social or environmental benefit and to track impact performance.
  • What is the contribution of MIIIM for experts?
    MIIIM has an investment committee that will be vetting the startups. Experts can focus on doing what they do and are rewarded with a share of the total equity of the fund.
  • 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.
  • Is MIIIM a cryptocurrency? Does it use blockchain?
    While we are very excited about the capabilities that blockchain technology offers for privacy and decentralization, we are concerned about the environmental footprint of current implementations. We would like to wait for new, more energy-efficient implementations to become available, especially Ethereum 2.0 which uses proof-of-stake and reduces energy consumption by nearly 99%. Our current implementation uses a centralized infrastructure to persist token assignments and transactions. Our roadmap for next year includes: - Implement a private blockchain using Ethereum smart contracts - Launch on Ethereum 2.0 once implemented
  • What is a convertible note?
    A convertible note is a short-term debt that converts into equity at maturity
  • Who decides on the cost of work in MIIIMs?
    MIIIM is a marketplace and we let startups and experts decide together on the nature and cost of the work. We provide guidance of 1.5 MIIIM per hour for a junior or untrained person to work on a project.
  • 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 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 token?
    MIIIMs are a special kind of currency. Unlike most other tokens they are backed by a real world value which is the equity (options) of the companies being funded. In a sense you mine MIIIM tokens through innovation and entrepreneurship rather than by running hashing functions. MIIIMs are both a store of value, as they provide equity returns, and a medium of exchange as you can convert them to work by the experts in the system. Anyone can post a request for work or offer their expertise in exchange of MIIIMs.

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