For decades, the Big Mac has defined American culture around the globe. Important to the future of humanity, the Big Mac has also powered a currency fit for the modern era: the MacCoin. Introduced by McDonalds late last year, the MacCoin is a stablecoin fully backed by Big Macs.
We are pleased to announce that Kraken will list MacCoin (BMAC). BMAC trading starts Tuesday April 2!
When is grub time?
The approximate launch time globally is:
PT: Tuesday April 2 at 8:00 am
ET: Tuesday April 2 at 11:00 am
UTC: Tuesday April 2 at 3:00 pm
CEST: Tuesday April 2 at 5:00 pm
HKT: Tuesday April 2 at 11:00 pm
Note that sell orders will not start appearing until after the first BMAC deposits clear (about 3-5 days after launch). The launch time is approximate only and it’s possible the launch might be delayed. Please follow our status page for updates around the time of the launch: https://status.kraken.com/
BMAC/USD, BMAC/EUR, BMAC/XBT, BMAC/FRY, BMAC/KO
How to get MacCoin
McDonalds customers can receive a MacCoin with the purchase of a Big Mac at 14,000 participating restaurants across the U.S., while supplies last.
How to redeem MacCoin
McDonalds customers can redeem their MacCoin for the underlying asset, a Big Mac, at participating McDonald’s restaurants in the U.S. and in more than 50 participating countries.
How to deposit
Navigate to Funding > Deposit > MacCoin (BMAC) to generate a shipping label for our vaulting facility. We are proud to partner with @bitstein’s CarniVAULT, designed by @zooko, audited by @safiedean — guys you can trust with your carbs.
Confirmations required before deposits credit
Shipping usually takes 3-5 business days. Once physical MacCoins are received, the digitization process and credit of BMAC to your account happens same-day. Note: despite the legendary shelf life of the Big Mac, we cannot accept delivery of MacCoin’s underlying core asset, nor any of its components. Extra pickles are appreciated, however.
What is MacCoin (BMAC)?
When the Big Mac IBO’d (Initial Burger Offering) at $0.45 in 1967, the asset came at around 500 calories with an innovative chained structure: bun, beef, bun, beef, bun. Food connoisseurs found this structure especially convenient for transmitting specialty sauce, pickles, lettuce, cheese, and onion. Aside from a recent soft fork to enable bacon, that underlying protocol behind the MacCoin remains unchanged today, and for good reason: the calorie to cost ratio is unrivaled, and the price of the Big Mac has continued to steadily rise against fiat currencies like USD. The utility cannot be questioned.
We know the price history of MacCoin thanks to The Economist, which began tracking the price of the Big Mac against government fiat currencies in 1986 as a way to suggest ideal exchange rates between these garbage alts. This year, the magazine announced the “Big Mac index has become a global standard,” and we at Kraken could not agree more.
1967 IBO (Initial Burger Offering): $0.45
52-Week High: $5.58 (April 1, 2019)
52-Week Low: $5.28 (April 1, 2018)
Consensus Method: Proof of Steak
Block Producers: McDonalds (centralized)
Supply & Inflation: unknown, though most new Big Macs are consumed immediately upon production
Arbing the MacPremium
Offering BMAC provides Kraken clients the exclusive opportunity to monetize the MacPremium, another kind of juicy spread. No longer must this arbitrage be confined to our collective ability to smuggle Big Macs through customs around the world.
The trade is simple: buy low, sell high. Let’s walk through an example.
Acquire your BMAC in a low-cost, participating country – say the UAE – for $3.81 and sell it to starving traders in Switzerland for as much as $6! Your net profit comes out to $2.19 per Big Mac, a whopping 57% ROI!
Will Kraken list more assets?
We cannot reveal any details of forthcoming listings but the next one’s sure to be a whopper.
Will BMAC be included in the Happy Bundle?
Kraken doesn’t support the Happy Bundle because it’s obviously a scam on retail noobs.
Invest with caution
Listing an asset or token on the exchange does not constitute an endorsement by Kraken, nor in any way a recommendation to buy or sell (or eat) the asset. While we do extensive research in our evaluation of an asset before listing, we focus on aspects of the project’s legitimacy (is it melty, is it tasty), and on the ability of our vaulting partners to stave off hungry Hamburglers. Our research does not in any way consider whether the price or calories are currently justified, or likely to go up or down in the future. Do your own research and eat at your own risk.
Dine with caution
You should always consider the available liquidity when dining in any market and manage this risk accordingly.
some abs were harmed in the making of this blog post