💡 Mothership (MSP) Tokens - New Estonian Cryptocurrency Exchange aimed at EU businesses and e-Residents - Researching Crypto so you don't have to 🔍
Mothership is an upcoming Estonian digital asset exchange that according to their roadmap is set to launch in the next three months. With all the excitement surrounding the Binance coin lately, I've had my eyes on the Mothership project for a while because it shows some similarities.
WHAT IS MOTHERSHIP?
Mothership is the name of the digital currency/asset exchange that will be launched soon. Mothership is not a decentralized exchange, but a normal centralized one like any other. What differentiates Mothership is that it is focused on EU residents and businesses, but more interestingly Estonian e-Residents. You can read about Estonian e-Residency on the official Estonian government website here, it's a real thing. According to the e-Residency website, anyone in the world can apply for an Estonian e-Residency and then have a digital identity and start a business in an EU environment. Mothership aims provide a wallet that can be integrated/linked with the e-Residency identity for ease of use. If so, it seems likely that Estonian e-Residents may prefer to use Mothership as opposed to other digital asset exchanges.
WHAT IS THE MOTHERSHIP TOKEN?
The MSP token is an ERC20 token of which there will be a total supply of 200,000,000 MSP.
MSP tokens are required for:
- Access to Premium and Platinum account tiers
- The Mothership app platform layer
- Community curation and insight rewards
- Access to Mothership beta products
- Mothership reputation management
In addition, Mothership will repurchase MSP tokens from the free market by using
20% of fees which it collects from Mothership product sales. These tokens will then be
permanently destroyed. This will continue on until 50% of the supply is destroyed.
SHOULD YOU INVEST?
It's hard to say for sure. This coin has some of the same features that Binance coin benefits from, such as the buyback program and serving as a platform for ICO's (it seems). I could not find information about premium account tiers, but I imagine these may involve trading fee discounts which could show minor similarity to the Binance coin trading discount. Reputation and curation rewards seem of minor interest.
At first glance it seems like it could be grossly undervalued, considering the worth of ICO platforms and the lack of EU ICO platforms (correct me if I'm wrong). Furthermore, a buyback program is powerful on it's own. Still, if 20% of the profits will be used for the buyback then it all depends on how much those 20% profits will be worth.
Estonia is a small country in the EU with only 1.3 million citizens. They estimate 10 million Estonian e-Residents by 2025, but I am not convinced by this as Estonia is the first to introduce e-Residency in the EU but certainly not the last. I am not convinced Estonian e-Residency is a compelling argument to invest in Mothership over other choices to invest in.
Will Mothership be able to draw enough customers away from existing exchanges, such as Kraken, which are widely used by Europeans and offer BTC/EUR trading pairs? I'm not so sure. Will Mothership be able to outcompete upcoming decentralized exchanges? I'm not so sure either.
CONCLUSION
Despite Mothership MSP being one of the few coins that have been going up in this downward market, I have decided for now to stay away. I'm interested in hearing other people's thoughts about this relatively unknown and obscure coin. Do you believe there is more to it? Am I mistaken in my opinions, or missing something entirely? Please do tell because I would love to be wrong on this one!
To read more about the Mothership MSP project, here are some helpful links:
Mothership website: https://mothership.cx/
Mothership Whitepaper: https://mothership.cx/documents/whitepaper.pdf
Bitcointalk Thread: https://bitcointalk.org/index.php?topic=2003693.0
I wasn't aware that there was a crypto coin associated with this project. I will have to go and do some more digging now...
Yes, it's for sale on only a few exchanges.
I have been interested in this because Binance exploded. I couldnt'figure out wether people were going crazy over the discount, or the buyback. In the case of the latter, it would mean this coin is powerful too - or atleast moreso than 30million market cap? dunno.. I didn't really 'get' Binance coin so I can't say this one excites me too much either.
Still, the idea of stumbling on a hidden gem that can flip easily is interesting! Let me know your thoughts if you happen to think it's a great coin, and I happen to be mistaken! I'd love to be wrong and make a lot of money ;)
Ok, cool...I will have a deeper look at Estonian e-residency then. I'm not au fait with Binance so it looks like I need to check that one out as well. I'll do that when I manage to find some free time...It's definitely about finding the hidden gem! And I have a feeling there's more than a few out there right now...:-)
Thanks for an awesome and informative post.
MSP is one i bought into back when they were going for 2k sats each. Didnt have much to play with at the time so I bought small. Almost trippled since then.
I think there is alot of growth coming witg this one. Planning to buy more if it slips back below 4k again.
Again thanks,
-glitch
You're welcome!
I'm still on the fence with MSP. It seems interesting but I am not sure. And generally if I don't really get the value, I tend to stay away since I can't leave my money in it confidently..
But congrats on you for making great profits!! If I can give one piece of advice, it would be to sell half of your coins now so you lock your profits in. Then put that into something eles that will go up. This way, even if MSP should go down, they won't be able to take those profits you took out away from you. And by diversifying you lower your own risk... plus you find out so many cool coins to collect ;)
I'll give you a Follow, feel free to follow me back if you'd like to read about crypto related stuff!
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