Recently a new star dawned in the crypto sky. Maya Preferred 223, an Ethereum-Classic based state-of-art ERC23 token, started trading on FatBTC exchange, topping the list of available currencies at approximately $1,500 a token (at the moment of writing the price has risen to $1914 and seems to be keeping its pace).

Maya Preferred 223 or MAPR, developed by U.K. Financial Ltd., is an ambitious analogue of stablecoins like Tether and DAI, backed with amounts of gold and silver from seven mexican precious metal mines. The final price of the token is expected to work out to about $18,500, and, with further additions to Maya Preferred’s precious metal reserves, the price is expected to increase.

Econotimes had an opportunity to speak with CEO and founder of Maya Preferred 223, James Dahlke about the ambitions of the new token, its background, and its future.

So, Maya Preferred 223 has recently been listed on FatBTC, one of the top exchanges. Congratulations. I see that now MAPR is being traded at approximately $2000 a token. Why do you think its fair price is around $18,500?

This is a very simple mathematical equation. There's approximately $18,500 worth of gold and silver backing each token as of today and that backing will only go up. Every time we add more tangible assets to back Maya Preferred 223 the price of Maya Preferred 223 should go up. Now if you add to the equation that there are only 1 million tokens available it makes the token worth even more because of its low float, which gives the coin the chance to rise very quickly. If you take into account the assets that are backing our token plus the limited amount of tokens available, this token is worth a lot more in our opinion than what it is trading at right now, and even more than its own backing of $18,500 per coin.

Since the trading is up and running, what are you going to do next to reach investors, traders and hodlers?

We hired one of the most reputable public relations firms, and with their guidance we're going to continue to put press releases out to keep coin holders informed. We believe that transparency is essential to the health of projects in this industry, and we plan on keeping our community and potential future investors informed of everything that is happening with us, and providing them with comprehensive details on the assets backing our currency.

Generally, what are your next steps?

Our next steps are simple: we have to build further and show that what we are doing is real. Our next steps will be to continue to add assets to back Maya Preferred 223, including additional Mines and other tangible assets. We also have been working on finalizing the first well-known token upon which Maya Preferred 223 is going to co-sign. Remember, our goal is to stabilize the cryptocurrency market, and the only way to do that is to stabilize the well-known tokens that trade every day, stabilize them so they move at a much more healthy rate. That's why we are showing proof of the backing of the $18,500 worth of gold and silver, so when this announcement comes out people will know that it is real and that we mean business.

Ok, I’ve bought several MAPRs. Should I hodl, waiting for it to take a jump or trade it to increase the value of the token?

I really cannot advise anyone on what to do with the tokens they have purchased, but I will say that it is often the case that, not even speaking strictly financially, but just in in life, things that you hold on to become more valuable over time. As it stands, we believe that the Maya Preferred 223 token is trading way undervalue from its potential.

In your last interview, you announced that at the moment Maya Preferred 223 is working on partnerships with five more silver and gold mines, located around the world. Can you please tell more about them?

Right now we are in final talks with five additional mines located in Mexico. If we execute this agreement, which the company feels strongly it will, it will automatically double the backing of the $18,500 figure that currently backs Maya Preferred 223. The seven mines that currently back Maya Preferred 223 have lots of Partnerships and agreements with other miners in the industry and through them we were able to form relationships with many other mines in Mexico and around the world. We feel strong that we can close the deal and add these other mines to our backing to double it to around $37,000 per token. We want all of our coin holders just to realize that the $18,500 worth of gold and silver will only increase and not decrease that's why we feel the price of the token is way undervalued and we believe that shortly the market will correct itself.

In your interviews and press releases you often say that one of the ultimate goals of Maya Preferred 223 is to back other cryptocurrencies. Can you please explain this a bit? What will be the mechanism behind this backing? What kind of cryptocurrencies do you anticipate backing?

The backing of other cryptocurrencies is simple: each Maya Preferred 223 token is linked to $18,500 of gold and silver and we are going to put our own tokens into a lawyers escrow wallet and these tokens will be used for the betterment and backing of the token that we decide to support. Should, for some reason, the token that we decide to support fail, the coin holders of that specific token will know that said token has gold and silver behind it through Maya Preferred 223 and they will be entitled to the Maya Preferred 223 token that's backing it. Our main goal is to take coins that currently have nothing behind them, coins that right now are trading at a phantom price, and give them a book value, give them stability and in doing so give the market stability.

I noticed that Maya Preferred 223 has a small, yet very tight-knit community. People are very optimistic with each new breakthrough or publication. Will you develop it further, or now the highest priority is the development of the economics of the token itself?

Right now we have a very small family but I believe in the near future that family is going to grow. I feel that with only 1 million tokens available to the public, the price of our token is very well situated right now from a prospective investor’s standpoint. We believe the economics of the token are very simple: once we cosign on a token and back it up, people will realize what we are capable of, and how useful we can be. The enthusiasm generated by the results we will show will make Maya well-known and, with such a low float, the price of the coin stands to rise exponentially.

Maya Preferred is U.K. Financial Ltd.’s asset. Please tell us more about U.K. Financial.

U. K. Financial Ltd. was established to create top-of-the-line cryptocurrencies. The company is located in the United Kingdom and it created Maya Preferred 223. U.K. Financial Ltd. is basically a holding company of cryptocurrencies and also a creator, which will prove to the market that sometimes you don’t have to beat the best to be the best, sometimes supporting the best can make you the best.

Last question, yet still very important. What is your background? What did you do before starting this project?

I have been a licensed CPA for over 35 years and graduated with a bachelor's degree in Business from University of Wisconsin. I have an extensive background in the stock market, not only as a trader, but as an executive. I have helped companies perform hundred million-dollar mergers and acquisitions and also have helped companies execute deals that some felt were impossible. I also have a background in the strategic planning of a company's stock structure and have worked extensively with low float stocks. I plan on using all my expertise in the stock market to create the most well-known cryptocurrency in the world, a currency that is backed by gold and silver and other tangible assets. I want to make coin holders feel confident and know that when they buy Maya Preferred 223, they are buying back into the gold standard, as it was in America back in the day.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes.