Balancing Supply and Demand with New Withdrawal Limit Mechanism

Inorder to create a stable price dynamic, Platinum Software Development Company is implementing daily withdrawal limits, determined by the user’s status and the balance of their account.

Reinforcing the value of Noah coin

The value of the NOAH coin, as with any other crypto asset, depends on sales and purchases. Research has demonstrated that the recent crash in price of the coin was caused by massive sales in single orders. Most of these sales were carried out by non-citizens.

Instead of forbidding sales or restricting the movement of the coin, the Noah Management Team has decided to implement daily withdrawal limits. The amount of assets available for withdrawal is determined by the status of the holder and their current balance.

The limits are now accurate, as you requested. Citizens decided on what the limits should be in two votes. The first one: (https://wallet.noah-blockchain.com/voting/proposal/35) determined the limits for citizens. The second one: (https://wallet.noah-blockchain.com/voting/proposal/54) determined the limits for non-citizens.

The results of both votes:

• Senators can withdraw up to 100% of their assets every day
• Congressmen can withdraw up to 100% of their assets every day
• Privileged Citizens can withdraw up to 75% of their assets every day
• Patriots can withdraw up to 50% of their assets every day
• Regular Citizens can withdraw up to 25% of their assets every day
• Green Card owners can withdraw up to 10% of their assets every day
• Non-citizens can withdraw up to 5% of their assets every day

How it works

Every Monday at 00:00 UTC , the balance of each account is checked automatically. Let’s assume that a person has 1,000 NOAH on their account.

The share available for daily withdrawal is then determined. For example, if this person is a Patriot, they can withdraw up to 500 NOAH each day of this week.

Then, when the week is over, the balance is checked again and the limit is updated. For example, if this person withdrew 400 NOAH, they now have 600 NOAH available. During the next week, they will be able to withdraw up to 300 NOAH each day.

You can always find all our updates first-hand, just follow these links:

Noah BTCNEXT Exchange:

• Telegram for the English speaking community.
• Telegram, LINE or LINE OPEN CHAT for the Japanese speaking community.

New Noah Blockchain ecosystem:

• Telegram for the English speaking community.
• Telegram, LINE or LINE OPEN CHAT for the Japanese speaking community.