💱 MasterContract Tokens (MCT) now tradeable on Switcheo.Exchange! 👍
A while ago I wrote about the free MCT airdrop that NEO holders received and I'm happy to report that today MCT is for the first time tradeable on a decentralized and trustworthy exchange: Switcheo.Exchange.
MasterContract Token (MCT)
MasterContract Tokens (MCT) are a NEO-based NEP-5 token that was created in order to make deploying Smart Contracts on NEO cheaper and reducing the GAS cost for them significantly. It is because of this that MCT is rather exciting since there is a good chance that because of these cost-saving measures there will be a sizeable demand for MCT tokens. For more information regarding MCT you can have a look at the Github page.
MasterContract Tokens (MCT) were airdropped back in May to all NEO wallets that held, or ever held, NEO's NEP-5 tokens prior to May 8th. For every type of NEP-5 token that ever transacted through a wallet address, a total of 1000 MCT were airdropped to that wallet. This means that if you ever had some TKY, ONT and RPX before the 8th of May you would have received 3000 MCT. If you only ever had some ONT, then you'd receive 1000 MCT. If you had NEO but never had any NEP-5 tokens, you're out of luck.
What's interesting and significant about the MCT Airdrop is that almost all of the total token supply was airdropped. This means that even 1000 MCT is actually a decent portion of the total market supply, indicating that the airdrop might have significant value. MCT tokens have been trading on a relatively unknown and perhaps shady exchange Hotbit.io for a while where the price has reached a maximum of about 53K satoshi's, and the price currently sits at 15K satoshi's. Price discovery has been weird and highly suspect (bots? manipulation?) on Hotbit though, so I am glad to report that today MCT was added to a more reliable exchange.
Switcheo.exchange
On July 30th Switcheo.exchange added MasterContract Tokens to their available markets. Switcheo.exchange is a NEO-based NEP-5 token exchange and has been the go-to place for NEP-5 tokens for the past months. Switcheo is a decentralized exchange, and it has garnered quite a popular reputation among the NEO community for it's frequent updates and developments. It is possible to trade straight from your Ledger Nano S hardware wallet on Switcheo.
Since Switcheo is a NEO-based DEX all markets and fees are in either NEO, GAS or Switcheo's native currency SWTH. It makes it a little hard to compare the price to exchanges such as Hotbit which deal in BTC pricing, and Coinmarketcap still doesn't list MCT so you can't compare the prices there either. Still, since Switcheo is a much more reliable and trustworthy exchange I imagine most volume will move there and it will from now on be the main exchange which sets the global price.
If you're looking to sell your MCT tokens, Switcheo is a great place to do that. You can cash out into NEO or GAS (better do GAS since NEO is indivisible...!) and then transfer that to elsewhere where you can trade it into BTC or otherwise. Similarly, if you think MCT has a great future ahead of it - now may be the right time to buy. My experience with Switcheo.Exchange in the past has been very positive.
Personally I am holding on to my MCT for just a little bit longer. With the markets down and very little exciting going on with altcoins, I feel right now is a bad time to sell. In addition, the current price of $0.01-0.02 per MCT token feels truly undervalued to me. In my previous posts I outlined some possible price possibilities for MCT and they are much higher than the current price is.
Click here to visit Switche.Exchange
This is good news for us MCT holders! Thanks for sharing. I also recommended holding MCT in my post about it.
Yep.. right now the market cap is about $5-10 million, which seems very undervalued to me!
It's crazy what some fantastic coins are valued at. Have you ever looked into CargoX?
I hadn't, but I glanced over it earlier today. I am not really into supply chain coins..
.. the reasoning I will explain in my next post! Your comment inspired it! :)
AAARGH! IT IS THE BEST BUY ON THE MARKET! * Ripping hair out in anguish* 😂
I already forgot what it was... seemed to me like Uber but with packages/shipments and a token, in latin america? It sounds... okay.
But truthfully, I am turning more and more into a Bitcoin maximalist. I wonder why this needs it's own token. With Bitcoin and it's advances (Lightning, RSK) I find myself wondering more and more if all these things can't simply be done with Bitcoin as well..
Next bull run, I'm looking to cash out many of my alts into btc. I'm hoping 'the masses' are still intoxicated with altcoins by then.
That's a good view. My objective is always to "beat BTC" - an objective I have even failing miserably at these last few months. I also believe in storing value in the big coins and growing it in the smaller ones. It's not quite as cut and dried as "just use BTC" because of things like BCH and the challenge it presents, Ripple and it's corporate brown nosing, Ethereum and its utility and above all: the fact that safety lies in diversification.
In an ideal world will makes fortune in alts an then later transfer it into mainly BTC and a few others. Right now I need to make money first.
Yep... I think 99% of the people are in alts for the same reason: to make more BTC (or ETH or any 'main' coins). It kind of works.. worked for me anyway (though I hope we don't drop another 50% in alts !!) but if Bitcoin is a rollercoaster then altcoins are like surfing on a tsunami..
Here you go, the long answer: https://steemit.com/cryptocurrency/@pandorasbox/why-i-believe-most-utility-tokens-are-a-bad-investment
The short answer is: I don't think people are going to put enough money into these systems in order to appreciate in value enough
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