Mira Network ICO Cancelled: Project Rebrands MIRA Coin to Mirex

Mira Network ICO Cancellation News: Mirex Rebranding, Listing Price

What's really going on with the Mira Network?

The cryptocurrency community was highly expecting the Mira Network ICO. It has just given an update on its status now. Following months of internal reviews, discussion with lawyers, and dialogue with investors, the development team has voted not to have an ICO.

This was announced directly by the official Mira Network X account. According to the statement, the team will not organize an ICO and the project would have another path. 

Source: X (formerly Twitter) 

Why Said No to an ICO?

The management said that, for most projects, ICOs create a problem later on in their development. Once a crypto ICO sells a token, upon listing, the token often experiences a strong sell-off. If its price falls immediately, then it hurts the future of the project.

Not to mention, there is a long history of the failure of projects created by means of Initial Coin Offering. Too many raise money before their product, technology, and partnerships are fully prepared, placing pressure on the team and creating high, probably untimely expectations within the community.

Because of this, the team decided that canceling the would be a safer and smarter move.

A Fair Launch Instead 

Instead of an ICO, the project now uses a model called a fair launch: the token is not sold in advance through early public fundraising.

Fair launch, according to the team, protects the users and gives the possibility of better planning with liquidity partners and exchanges. It also reduces the risk of sudden price crashes when the token goes live. 

The team said it believes this approach provides a vehicle for long-term stability and better adheres to regulatory requirements.

MIRA Coin Is Now Mirex ($MRX)

Another important update in the development of this platform will be the change of the token's name. MIRA Coin will now be known as Mirex ($MRX).

The reason is quite simple. Recently, another crypto project with a very close name appeared online. Although the logos and websites differed, many users were getting mixed up.

It decided to rebrand only in order to avoid this confusion and secure the identity of their work. This change helps make the project easier to recognize and understand.

What Mirex Token Is and How It Will Be Used

The main token of the MIRA-20 blockchain will be $MRX-Mirex. It will be used to pay gas fees, execute smart contracts, and finally support other network activities.

Another feature the project uses is a two-token system; aside from Mirex, it has Lumira-a stablecoin envisioned to remain attached to the Swiss Franc. This keeps the balance and stability of the ecosystem.

Source: Official Website

The team's shared some preliminary details of Mira Network Tokenomics:

• The total supply shall be 27 million MRX.

• Expected listing price is around $0.95.

• Supply during TGE: 4,600,000

• Target Launch Period: Q2 2026

This data was announced with earlier plans mentioning an ICO in Q4 2025, but those plans are no longer valid.

Whitepaper Still Under Legal Review

The Mira Network whitepaper has not been released yet. According to the team, it is in the process of legal review. When ready, it will have the roadmap, token details, and the entire ecosystem plan explained. Now, that update is clear and simple: There is no Mira Network ICO, the token is now Mirex ($MRX), and the team is focused on building slowly and carefully.
Disclaimer: This article is for informational purposes only and not a financial advice, kindly do your own research before investing.