Money Token: Crypto-backed Loans | DAILY 1:00PM 🕐 ICO REVIEW
Its 1:00pm Stemians!
Which means its time for the second ICO review of the day!!! The ICO is called Money Token.
I hope you are all exited for this ICO as I am and don't forget to answer the question of the day for a chance to win an upvote and a follow!!!
About Money Token
Money Token is a project that seeks to provide crypto-backed loans to those who have crypto assets. With money token there will be no need to sell off your cryptocurrencies in fiat currencies because the money you need will be made available to you in no time.
The project will also provide a platform for exchange services in a decentralized network. It is a known fact that holders who buy crypto assets at a low price need to hold on to their assets to gain on future growths. If you spend your crypto assets prematurely you will lose out on future gains.
Money token will help you get that needed cash as a loan to avoid you from trading off your valued cryptocurrencies. You will be able to borrow liquid funds instantly based on the current value of the crypto asset you are holding.
It works like this; you take out a loan that will be collateralized by a volatile asset like Ethereum or Bitcoin and you get an agreed loan amount in any fiat currency of your choice. With this solution in place you will be able to save your crypto assets and still get the money you need.
Learn more about money token here:
The Team
I checked the Linkedin profile of the team members and what I can deduce from their profile is that most of them have experience in the technology industry but not in the financial sector. Apart from Jeffery Chudy who is the head of the financial department the CEO and Co-founder, Alex Rass and Jerome MacGillivary have experiences in software engineering.
Since this project will be blockchain based, I was expecting to see a blockchain expert among the team but none has been invited or employed to handle the technical aspect of a blockchain project development.
The Financials
If you want to make an investment in Money Token, here is a list of some important financial details. The ICO will trade from March 22rd 2018 to April 22nd 2018 and the token code is IMT.
1 IMT will cost 0.005 USD and available funding sources include ETH, BTC, BCH and LTC. A low soft cap of $3million has been set to make this ICO a success while a hard cap of $35 is in place.
There is a bonus structure in place to encourage investments. Token sale attracts a bonus of 20% while the presale and private sale bonuses are 30% and 40% respectively.
10,120,000 tokens are up for sale, representing a 45% distribution in ICO.
The Roadmap
Overall, Money token seems to be a nice concept but I still have my reservations. Firstly, collateralizing loans with volatile cryptocurrency might not prove to be a wise move after all. Secondly, they do not have a blockchain expert on the team. However, on a positive note, a working platform has already been developed.
Now its time for the question of the day!!! The question of the day is:
"Do you think this ICO will disrupt the process of hiring developers and coders?"
Disclaimer
This ICO information is just for the interest of Crypto Lovers and should not be considered as investment advice. If you want to take this opportunity, then invest only what you can afford.
Is it good to have an loan on cryptocurrency?
Yeah. It is based on the blockchain which they utilized to its full potential and besides, they promise to not be affected by fluctuations when it's your time to pay them.
I usually try to stay away from lending platforms, but good luck if you invest.
Thank you!
Coins mentioned in post:
This project is really promising, no wonder investing on this kind will gain profits in no time, tho it lacks of exchange the service of it is still good. The structure of it was solid no wonder because the team behind are great and good people. FUDs should not come in here because shame will be facing on them.
I'm so excited to invest in Money Token if my fave exchange will be listed here. If top exchange and Great project collide I think it will have an exceptional result.
Boo! Supporting a project that you know won't fly high. Try exploring more on crypto-world, newbie! You might wanna change your mind. Best of luck! :)