There are five steps in the lifecycle of a Moneta.
Step 1
User deposits fiat currency into Moneta Holdings bank account.
Step 2
Moneta Holdings generates and credits the user's Moneta account. Monetas enter circulation. Amount of fiat currency deposited by user = amount of Monetas issued to user (i.e. 10k USD deposited = 10k Moneta USD issued).
Step 3
Users transact with Monetas. The user can transfer, exchange, and store Monetas via a p2p open source, pseudo anonymous, blockchain platform.
Step 4
The user deposits Monetas with Moneta Holdings for redemption into fiat currency.
Step 5
Moneta Holdings destroys the Monetas and sends fiat currency to the user’s bank account.
Users can obtain Monetas outside of the aforementioned process via an exchange or another individual. Once a Moneta enters circulation it can be traded freely between any business or individual.
For example, users can purchase Monetas on exchanges.
