Spanish LGBT + brand MariCoin (MCOIN) responded to the community after doubting the concept and goals of the project.

Some have even criticized the project because of its name, which is based on anti-gay gossip in Spanish. But, according to key project participants, they just got it wrong.

Francisco Alvarez, CEO of MariCoin, told Cointelegraph that the title of the project is about “turning an insult into a fortress” and refers to the anti-gay language, where the word “gay” is still used as an insult in some communities.

“In Spain, members of the gay community very often refer to themselves as ‘marikon’, so Juan, an active member of the community, thought MariCoin was a great name for a cryptocurrency that would unite the entire community,” Alvarez said. … …

The CEO noted that the MariCoin project has “found universal acceptance” by more than 90% in other Hispanic countries such as Argentina, Venezuela, Cuba, Mexico, Uruguay, Ecuador and others. “Even if we have to work with the other 10% who do not share our vision,” he said.

According to the founder and president of MariCoin, Juan Belmonte, on January 31, the project plans to list its Algorand-based token on crypto exchanges that support the Algorand blockchain.

“We have been in talks since September 2021 as we announced the listing on Binance. Our CTO is working on a white paper and next week we will have the first version, ”Belmonte told Cointelegraph.

He also noted that MariCoin has closed its waiting list of 10,000 Maricoiners, as indicated in their roadmap. “Due to the collapse of the mail, we had to open a new listing to reserve a coin with an initial price of $ 0.025 effective January 31,” added the leader. Some people in the community were previously skeptical about the MariCoin lineup for investing through Google Forms.

On the subject: New LGBTQ Token Seeks Justice, But Causes Public Concern

Belmont also mentioned that MariCoin was selected for the Algorand Foundation accelerated program in Miami last year, backed by investment firm Borderless Capital. In addition to MariCoin, the accelerator has also selected 9 other startups, including Latin American digital bank NeoMoon, blockchain game Alchemon, non-functional Dartroom token platform, and more.

The Algorand Foundation and Borderless Capital did not immediately respond to Cointelegraph’s request for comment.

Source: CoinTelegraph