SyncFab: The working utilities of the MFG Token

SyncFab is a company creating a brand new platform with the intention of changing the face of supply chain management. The company is looking forward to creating benefits for business innovators and manufacturers alike, by eliminating third parties and intermediaries who could get in the way of a schedule or a breakthrough development. The platform also offers easy means to get in contact with suppliers so that everyone will save money and time. The continuous growth of the ecosystem will make established players aware of where to go and get familiar with the new way to do business.

Handling the MFG token

All dealings inside the platform will be handled using the Smart Manufacturing Token in a Blockchain developed ecosystem. The financial tool not only works to offer monetary backup for the expansion of the SyncFab platform. It’s also mean to procure hardware developers complete access to incentivized rewards that can be traded for goods and services. The token can be used in bids to get the best quotes from product suppliers. It can also be used to develop loyalty programs that can be offered to recurring customers. Holders can also form a reputation for their good dealings inside the platform. This information will work as a reference for up and comer visitors.

The ICO offering of the MFG token

SyncFab already has a market validation by housing the business of several manufacturers of composite materials for the Auto, medical and robotic industries. Their proposal for their token sale breaks down as it follows: Their Initial Coin Offering will be of 300 million MFG tokens. The offering demands a minimum investment of 10,000 MFG tokens that can only be paid through Ethereum. The cost relation between MFG and ETH will of 5,000 units to 1. The minimum goal to begin operating will be set at $500,000 or 500 ETH. The token sale has a soft cap of $15 million (or 15,000 ETH) and a hard cap of $30 million (or 33,000 ETH).

The Allocation of the MFG token earnings

The token sale is set to begin in February of 2018, and it will end in April of the same year. After the sale is done the MFG token will be integrated into the new 2.0 upgraded SyncFab platform and the token pieces not sold will be destroyed. The earnings derived from the token sale are currently planned to be distributed as described: 50% will be allocated for Software improvement and development, 15% will be used for marketing around the world. 15% will be used to finance the day to day operations. 5% will be used on legal issues. Other 5% will be used as a reserve fund, while the remaining 10% will be allocated to the MFG tech team.

The final destiny of this financial instrument will be tested by holders who can freely trade them and use them under the SyncFab Blockchain ecosystem to make direct deals for supplies and technology while keeping a clear record of the tracking orders, extra fees, shipping dates and the incentive plans worked out by the parties involved. To learn more about SyncFab and their offerings to redefine the supply market you can check https://blockchain.syncfab.com/, Telegram, ANN Thread, BOUNTY Thread

Image credit