July 13th, 2019 at 2:55 pm UTC · 3 min read
U. K. Financial Ltd. has announced that they will be performing the first ever “forward split” style transaction in cryptocurrency history with Maya Preferred 223 (MAPR).
A forward split is traditionally when a stock splits and shareholders end up holding more after the split than they held before. This crypto incarnation of the forward split will see each Maya holder receive 100 MAPRs after the split for every 1 MAPR they held before. Anyone who owns Maya preferred 223 at the close of business on July 31, 2019 will qualify for their share of the forward split tokens.
While holders will be given 100 free MAPRs, the price of the coin will accordingly be reduced by a hundred times at the close of business on July 31. This move will make the price of Maya Preferred 223 more affordable to investors. The split will happen like this: if Maya Preferred closes at $25,000 on July 31st 2019, on August 1st 2019 Maya Preferred will open at $250 per coin.
All coin holders will receive 100 tokens for every individual coin they own (partial tokens also qualify) so the dollar value of their holdings is exactly the same. All the tokens should be transferred to the accounts at the Catex.io, if there are not held there till July 31, 2019 in order to receive the dividends.
On August 1st, 2019, U. K. Financial Ltd. will freeze the price of Maya Preferred 223 at whatever the post-split price is on all the markets it trades on (FatBTC and Cat.ex) and perform a 1 million token buying opportunity, open to the general public, at that frozen price till September 27th. These 1 million tokens represent approximately the total number of MAPR tokens that are available to the public. The close of the buying opportunity is September 30th and al the dividends will be paid no later than September 30th.
Maya Preferred 223 is a stable coin that is backed by $34,000 per token in gold and silver from 11 gold and silver mines in Mexico. The forward split will not affect the way the coin works. The currency will have the same amount of assets backing it after the split, but the ratio of the backing to each coin will be adjusted to reflect the 100-time price reduction.
The forward split follows Maya Preferred’s 223 recent efforts to provide stability to the crypto market. The Maya team has announced that they will be using their cryptocurrency to independently back other currencies for the benefit of the crypto industry as a whole.
In a statement, U.K. Financial Ltd. CEO Jim Dahlke highlighted how Maya’s future split will open doors to new investors, saying
“We have an inclusive vision at Maya Preferred 223, and this future split we are conducting will help make our coin, and by extension our goals, more accessible to everyone, from institutions on down. The 60-day sale following the split will be a wonderful opportunity for newcomers of all sizes to come on board.”
From June 26, 2019 Maya Preferred 223 is backing Bitcoin with gold and silver by transferred 21 million MAPR, an amount equal to the total number of Bitcoins, to escrow accounts.
U. K. Financial Ltd. also announced that the signing of definite partnership agreement for buy out over 51% control of Digital Fantasy Sports (DFS) tokens has come to the final stage.
Maya Preferred 223, developed by U.K. Financial Ltd., is currently traded on two crypto exchanges, FatBTC and Cat.ex, for 1.5 BTC per MAPR, which comes to $18,520.80 (at the time of writing).